Article 1458 - 1488
Article 1458 - 1488
Article 1458 - 1488
ART. 1464. In the case of fungible goods, there may be a ART. 1470. Gross inadequacy of price does not affect a
sale of an undivided share of a specific mass, though the contract of sale, except as it may indicate a defect in the
seller purports to sell and the buyer to buy a definite consent, or that the parties really intended a donation or
number, weight or measure of the goods in the mass, and some other act or contract. (n)
though the number, weight or measure of the goods in ART. 1471. If the price is simulated, the sale is void, but
the mass is undetermined. By such a sale the buyer the act may be shown to have been in reality a donation,
becomes owner in common of such a share of the mass as or some other act or contract. (n)
the number, weight or measure bought bears to the
number, weight or measure of the mass. If the mass ART. 1472. The price of securities, grain, liquids, and other
contains less than the number, weight or measure bought, things shall also be considered certain, when the price
the buyer becomes the owner of the whole mass and the fixed is that which the thing sold would have on a definite
seller is bound to make good the deficiency from goods of day, or in a particular exchange or market, or when an
the same kind and quality, unless a contrary intent amount is fixed above or below the price on such day, or
appears. (n) in such exchange or market, provided said amount be
certain. (1448)
ART. 1465. Things subject to a resolutory condition may
be the object of the contract of sale. (n) ART. 1473. The fixing of the price can never be left to the
discretion of one of the contracting parties. However, if
the price fixed by one of the parties is accepted by the ART. 1479. A promise to buy and sell a determinate thing
other, the sale is perfected. (1449a) for a price certain is reciprocally demandable.
An accepted unilateral promise to buy or to sell a
ART. 1474. Where the price cannot be determined in determinate thing for a price certain is binding upon the
accordance with the preceding articles, or in any other promissory if the promise is supported by a consideration
manner, the contract is inefficacious. However, if the thing distinct from the price. (1451a)
or any part thereof has been delivered to= and
appropriated by the buyer, he must pay a reasonable price ART. 1480. Any injury to or benefit from the thing sold,
therefor. What is a reasonable price is a question of fact after the contract has been perfected, from the moment
dependent on the circumstances of each particular case. of the perfection of the contract to the time of delivery,
(n) shall be governed by articles 1163 to 1165, and 1262.
This rule shall apply to the sale of fungible things,
ART. 1475. The contract of sale is perfected at the made independently and for a single price, or without
moment there is a meeting of minds upon the thing which consideration of their weight, number, or measure.
is the object of the contract and upon the price. Should fungible things be sold for a price fixed
From that moment, the parties may reciprocally according to weight, number, or measure, the risk shall
demand performance, subject to the provisions of the law not be imputed to the vendee until they have been
governing the form of contracts. (1450a) weighed, counted, or measured, and delivered, unless the
ART. 1476. In the case of a sale by auction: latter has incurred in delay. (1452a)
(1) Where goods are put up for sale by auction in ART. 1481. In the contract of sale of goods by description
lots, each lot is the subject of a separate contract of sale. or by sample, the contract may be rescinded if the bulk of
2) A sale by auction is perfected when the the goods delivered do not correspond with the
auctioneer announces its perfection by the fall of the description or the sample, and if the contract be by
hammer, or in other customary manner. Until such sample as well as by description, it is not sufficient that
announcement is made, any bidder may retract his bid; the bulk of goods correspond with the sample if they do
and the auctioneer may withdraw the goods from the sale not also correspond with the description.
unless the auction has been announced to be without The buyer shall have a reasonable opportunity of
reserve. comparing the bulk with the description or the sample. (n)
(3) A right to bid may be reserved expressly by or
on behalf of the seller, unless otherwise provided by law Article 1482. Whenever earnest money is given in a
or by stipulation. contract of sale, it shall be considered as part of the price
(4) Where notice has not been given that a sale by and as proof of the perfection of the contract. (1454a)
auction is subject to a right to bid on behalf of the seller, it
Article 1483. Subject to the provisions of the Statute of
shall not be lawful for the seller to bid himself or to
employ or induce any person to bid at such sale on his Frauds and of any other applicable statute, a contract of
sale may be made in writing, or by word of mouth, or
behalf or for the auctioneer, to employ or induce any
person to bid at such sale on behalf of the seller or partly in writing and partly by word of mouth, or may be
inferred from the conduct of the parties. (n)
knowingly to take any bid from the seller or any person
employed by him. Any sale contravening this rule may be Article 1484. In a contract of sale of personal property the
treated as fraudulent by the buyer. (n) price of which is payable in installments, the vendor may
ART. 1477. The ownership of the thing sold shall be exercise any of the following remedies:
(1) Exact fulfillment of the obligation, should the
transferred to the vendee upon the actual or constructive
delivery thereof. (n) vendee fail to pay;
(2) Cancel the sale, should the vendee's failure to
ART. 1478. The parties may stipulate that ownership in pay cover two or more installments;
the thing shall not pass to the purchaser until he has fully (3) Foreclose the chattel mortgage on the thing
paid the price. (n) sold, if one has been constituted, should the vendee's
failure to pay cover two or more installments. In this case,
he shall have no further action against the purchaser to
recover any unpaid balance of the price. Any agreement to
the contrary shall be void. (1454-A-a)
Article 1485. The preceding article shall be applied to
contracts purporting to be leases of personal property
with option to buy, when the lessor has deprived the
lessee of the possession or enjoyment of the thing. (1454-
A-a)