Silliman University

POINTERS FOR SALES-FINAL EXAM

CAVEAT: THIS OUTLINE IS INTENDED ONLY AS A GUIDE. MAKE

SURE THAT YOU STUDY THOROUGHLY CHAPTERS 1,4,5,6 AND 7 of our
textbook, ONLY USE THIS OUTLINE WHEN YOU HAVE ALREADY
FINISHED STUDYING THE SAID CHAPTERS.

I. STAGES IN THE LIFE OF A CONTRACT

A. WHEN IS IT PERFECTED
B. WHEN SHALL PAYMENT BE MADE
C. WHEN SHALL THE OBJECT BE DELIVERED

II. WHEN IS OWNERSHIP TRANSFERRED TO THE VENDEE

A. HOW DELIVERY SHOULD BE MADE

B. INSTANCES WHEN DELIVERY IS EFECTIVE
C. WHEN IS PARTIAL DELIVERY ACCEPTABLE
D. INSTANCES WHERE VENDEE IS ALLOWED TO REFUSE DELIVERY
E. INSTANCES WHEN BUYER IS ALLOWED TO RETURN THE
OBJECT OF SALE EVEN AFTER DELIVERY IS MADE
F. ACTIONS FOR FAILURE TO DELIVER THE AGREED OBJECT

III. IMPLIED WARRANTIES UNDER THE LAW

A. WARRANTY AGAINST HIDDEN DEFECTS

1. DEFINITION
2. COVERAGE
B. WARRANTY AGAINST EVICTION
1. DEFINITION
2. EFFECTS OF BREACH OF WARRANTY

IV. TYPES OF REDEMPTION

A. CONVENTIONAL
a. DEFINITION
b. PACTO DE RETRO
1. Requisites
2. Period to redeem
3. Equitable Mortgage

B. LEGAL
a. RIGHT OF REDEMPTION
1. Who can redeem
2. Period to redeem
3. Amount of redemption
4. Priority in case two or more will redeem
c. RIGHT OF PRE-EMPTION