Source: https://www.scribd.com/document/156517720/1591-1595
Timestamp: 2018-09-19 12:06:34
Document Index: 513373706

Matched Legal Cases: ['Art. 1591', 'Art. 1191', 'Art. 1592', 'Art. 1592', 'Art. 1191', 'Art. 1595']

1591-1595 | Rescission | Law Of Obligations
Report Legal Writing
In the Matter of Gulfco Investment Corporation, and Its Wholly Owned Subsidiary, Family Loan, Inc., of Springfield, Missouri, Debtors. P.M.G. Corporation v. Dan Hogan, Trustee, 520 F.2d 741, 10th Cir. (1975)
Compiled Oblicon Digests 1
Should the vendor have reasonable grounds to fear the loss of immovable property sold and its price, he may immediately sue for the rescission of the sale. Should such ground not exist, the provisions of Article 1191 shall be observed. (1503)
(Art. 1591): RIGHT OF VENDOR TO RESCIND SALE OF IMMOVABLE PROPERTY / ANTICIPATORY BREACH - REQUISITES: (a) There is delivery of immovable property (b) Vendee has not paid the price (c) Vendor has reasonable ground to fear the: a. LOSS of PROPERTY; AND b. LOSS of PRICE - When there is no such reasonable ground, Art. 1191 shall be observed (when the vendee does not comply with what is incumbent upon him).
(Art. 1592): WHERE AUTOMATIC RESCISSION OF SALE OF IMMOVABLE PROPERTY IS STIPULATED Art. 1592: In the sale of immovable property, even though it may have been stipulated that upon failure to pay the price at the time agreed upon the rescission of the contract shall of right take place, the vendee may pay, even after the expiration of the period, as long as no demand for rescission of the contract has been made upon him either judicially or by a notarial act. After the demand, the court may not grant him a new term. - According to Villanueva and Pineda, the phrase ―even though‖ means that this provision is also applicable in a case where there is no stipulation in the contract as to automatic rescission. Atty. Casiňo does not agree with them (this time, he agrees with De Leon) - Vendor is given an option to rescind UPON JUDICIAL OR NOTARIAL DEMAND - However, when there is no judicial or notarial demand, vendee may still pay. Offer to pay is sufficient to defeat vendor’s prerogative. - Vendor’s right to rescind is not absolute. o Art. 1191, par. 3 provides that the court may grant vendee a new term o However, if there is already a demand, the court may no longer fix a term. - Breach must be substantial as to defeat the very object of parties. - NOT APPLICABLE TO: o Sale on installment of real estate (Caridad Estates vs Santero) – governed by Maceda Law o Mere promise to sell real estate / Conditional sale – there can be no rescission in contract to sell o Cases under RA 6552 (RA 6552 recognizes the vendor’s right to cancel unqualifiedly in case of industrial lots, commercial buildings, etc. with a refund of certain percentages of payments made on account of cancelled contract).
*In other words, the vendee in such cases may no longer pay the price after the expiration of the time agreed upon although no demand has yet been made upon him by suit or notarial act.
Hence. 1594. the ownership of the goods has passed to the buyer and he wrongfully neglects or refuses to pay for the goods according to the terms of the contract of sale. or (b) Pay unless credit period for payment is stipulated . by other applicable provisions of this Title. (n) Art. 1595.Not applicable if the thing has already been delivered (reason: the vendor cannot take the law in his hands) CHAPTER 6 ACTIONS FOR BREACH OF CONTRACT OF SALE OF GOODS Art. under a contract of sale.Reason for the rule: Personal properties are not capable of maintaining stable price in the market. . Actions for breach of the contract of sale of goods shall be governed particularly by the provisions of this Chapter.(Art. and as to matters not specifically provided for herein. Where. the seller may maintain an action against him for the price of the goods. . 1593): WHERE AUTOMATIC RESCISSION OF SALE OF MOVABLE PROPERTY IS STIPULATED .Vendor can rescind the contract as a matter of right if the vendee does not: (a) Accept. any delay is prejudicial to the vendor.
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