Art 1249 – fault of the debtor? , if issued by a third person Art 1249 will not apply

Paco vs Valencia

Referee in case of need

Which is better a promissory note or a bill of exchange?

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Real object =? Real contract

When is a contract consensual?

When is it real? ( it is not perfected by mere consent, but also by delivery )

Contract involving real right ? Art 1314/1315

Contract that created real right?

When does the creditor acquire a real right over the thing?

Why is a contract of sale a mere title?

For whose benefit the period is fixed if the obligation is subject to a suspensive condition? ( for the benefit of both the parties unless otherswise stated)

When is a contract bilateral?

When it is reciprocal?

Art 1191 in relation to Art 1592

Why is a contract of sale reciprocal?

A sale gives to two correlative obligations?

Separate and distinct is not a contract of sale

Principal contract vs accessory contract

Innominate contract vs nominate contract ( specifically defined)

Autonomy of contract

Price vs value

Gross inadequacy of price is valid

Why is a contract of sale commutative?

Period ( certain to arrive = death) vs condition ( uncertainty)

When the perfection of a contract depends on a suspensive condition which did not happen then there is no contract perfected . PHCC vs CA

Contract depends on suspensive condition (did not happen) = no perfected contract

When is a sale conditional? Unconditional?

Look at the contract at the point of view of the seller

RETROACTIVITY EFFECT – ART 1187

Art 1544

To determine the remedies of the parties check if :

Absolute Sale

Conditional Sale

Art 1191 = Art 1592 = Art 1594

Recission recovers ownership

Dacion en pago = special mode of payment ( monetary obligation only)

How are obligation modified? Novation , substitution, subrogation

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Sec 30 , Sec 191

Considering the privity of contract between a maker and payee, may a payee be a holder in due course?

Caltex case

As a rule one is not required to inquire a negotiable instrument because it will defeat the purpose of the nego instrument being a substitute of money

2 sets of relationship in an accommodation party?

Is the AP primarily or secondarily liable? It depends on sec 29

Acceptance – see sec 62

Acceptance is the signification of the drawee that he will comply to the order

When does an AP considered as secondarily liable?

A drawer is not primarily liable.

Sec 119 , Sec 29

What is the reason of an AP : No good credit standing, no money at the time of the making of the instrument

May a corporation be an AP? NO , see crisologo case

Sec 79

Sec 88 , sec 119

Art 2073 CC, sec 27 NIL

Commercial transaction?

Bills in set???

Debtor willing to pay at a certain place, creditor did not appear , next day creditor demand debtor to pay , debtor refused because creditor did not appear yesterday, creditor filed an action to compel debtor to pay, will it prosper?

May a payee be a holder in due course? Yes provided that the payee does not directly deal with the negotiation.

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Dacion en pago pa rin if at the time , the obligation to be performed of is converted into money ( ex. Deliver piano eh nasira so convert to 50k nalang, then sabi mo watch nalang bbgy mo kapalit ng 50k = dacion en pago pa din)

Sources of obligation can be novated provided that the creditor agrees.

Barter- manifestly intention of the party , partly in money and partly in object

Contract for a piece of work

The building will not come into existence were it not for B’s intervention

Art 96 , art 126 family code

Art 37

Art 1356 = forms of contract

Oral contract of sale of a piece of land = valid but unenforceable

Art 1403 – subscribed by the party charged or by his agent, ano yung party CHARGED?????

Exception to the statute of frauds

Implied in fact contract – UP vs phil lab

When is price certain?

A sold to B a land in exchange for his pension : price is not certain ( kasi d mo alam kalian ka mamatay , sale is not valid)

Use latin maxim if possible

Art 1505 , art 559

Requisites of a vlaid delivery

LIMITED GENERIC OBJECT – can deliver at his option as long as the horse belongs to the stable of A

Art 1164 , 1165, 1166

Constructive fulfillment

Specific object vs determinable object

Specific : diligence of a good father, deliver all its fruits at the time of perfection of contract ( art 1537, 1538,1174,1175,1176) , accessory included even if not in the contract

Sales of goods with negotiable instrument? Pwede I deliver sa bailee, warehouseman ???? ( considered as delivered to buyer???)

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Certification by a bank of a check = acceptance ( concept of certified check / managers check)

Drawee and drawer same person = can it enforce the instrument accdg to its original tenor? NO!!!??

Sec 92, 93 : Sec 89,90,91

Benefit ?? what benefit? Time to which notice to be given

Sec 68

Sec 119 letter B, sec 88

When is presentment not required?

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Art 1164-33, 1137,1138,1163,1170,1173,1537,1538

LIMITED GENERIC OBJECT, LIMITED DETERMINABLE (object of a contract of sale)

Contract to sell vs conditional sale

Art 1523-1503

When a third person acknowledges that he is holding the food of the buyer

THERE CAN BE OWNERSHIP WITHOUT PHYSICAL POSSESSION

Concing vs CA

Sale is absolute WHEN THERE IS NO RETENTION OF OWNERSHIP BY THE VENDOR

Art 1189 will only apply in cases where there is no delivery or pending delivery

Art 2241,2242,2240

Art 1523 – general rule, art 1503 - exception