Judicial Officers and Acquisition of Property

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Questions and Answers

In a contract of sale, when does the gross inadequacy of price affect the validity of the contract?

When the seller intentionally offers a price significantly lower than the actual value.

When the inadequate price indicates a defect in consent or that the parties intended a donation or other contract. (correct)

When the buyer insists on a lower price.

When both parties agree on a price lower than the market value.

What could lead to the annulment of a sale due to vitiated consent?

Use of insidious words or machinations by the buyer to persuade the seller to agree to a lower price. (correct)

Seller's sudden change in opinion after agreeing to sell an item.

Seller's regret over selling an item at a lower price than its actual value.

Buyer's refusal to pay the agreed price for an item.

What makes a sale void when it comes to simulated or false pricing?

If both parties agree on an inflated price for an item.

If one party makes it appear that a certain price is paid but in reality, there is no consideration exchanged. (correct)

If the buyer insists on paying more than the actual value of the item.

If the seller exaggerated the actual value of the item being sold.

Why is consideration essential in a sale agreement?

To demonstrate that something of value is exchanged between the parties involved in the sale. Signup and view all the answers

What action can a seller take if there is no consideration exchanged in a sale?

Show that there was no intent to sell but to give the item as a gift. Signup and view all the answers

Under what circumstances does gross inadequacy of price not affect the validity of a contract of sale?

When inadequate pricing shows a defect in consent or an intention for donation or another contract. Signup and view all the answers

When does the buyer bear the risk of loss to the thing in a sale?

At the time of perfection of the contract Signup and view all the answers

In what situation is the seller's obligation to deliver extinguished if the thing is lost due to a fortuitous event?

When the provisions of law provide that the seller shall still be liable Signup and view all the answers

When does the buyer's obligation remain to subsist despite the thing being lost due to a fortuitous event?

When there is a stipulation to the contrary Signup and view all the answers

Under what circumstance does the seller bear the risk of loss in a sale according to Article 1504?

Until actual or constructive delivery Signup and view all the answers

What principle does the second rule mentioned in the text align with?

'Res perit domino' - the thing perishes with the owner Signup and view all the answers

When are goods at the buyer's risk in a sale according to the text?

If there is an agreement to that effect Signup and view all the answers

What duty does the seller have regarding the thing sold after the contract is perfected but before delivery?

The seller must preserve the thing with the diligence of a good father of family. Signup and view all the answers

When does the buyer have the right to the fruits of the thing sold?

From the time of perfection of the contract. Signup and view all the answers

What happens if there is a complete loss of the thing sold before the contract is perfected?

The sale is void as there is no object of sale. Signup and view all the answers

In case of partial loss before the contract is perfected, what options does the buyer have?

Buyer can withdraw from the contract or demand the remaining part paying its proportionate price. Signup and view all the answers

When does the buyer bear the risk of loss according to one view mentioned in the text?

Before perfection of the contract. Signup and view all the answers

What standard of care is expected from the seller in preserving the thing sold?

'Diligence of a good father of family.' Signup and view all the answers

Study Notes

Contract of Sale and Price Validity

Gross inadequacy of price may affect contract validity when it implies bad faith or exploitation.
Sale can be annulled due to vitiated consent if consent was obtained through fraud, duress, or mistake.
Simulated or false pricing renders a sale void as it misrepresents the true nature of the transaction.

Consideration in a Sale Agreement

Consideration is essential as it reflects the exchange of value, underpinning the legitimacy of the contract.
A seller can rescind a sale if there is no consideration exchanged, as the contract lacks a binding element.

Risk of Loss in a Sale

Gross inadequacy of price does not affect the validity of a contract if both parties willingly agree to the terms.
The buyer bears the risk of loss once the ownership is transferred, regardless of the item's physical condition.
Seller's obligation to deliver ceases if the item is lost due to a fortuitous event before delivery occurs.

Despite an item's loss due to a fortuitous event, the buyer’s obligation to pay remains unless otherwise stipulated.
According to Article 1504, the seller bears the risk of loss if the sale is conditional upon delivery and it becomes impossible due to unforeseeable circumstances.

Duties and Rights Post-Contract

After contract perfection but before delivery, the seller must take reasonable care to preserve the sold item.
The buyer has the right to the fruits of the sold item once the contract is perfected, unless the item is a consumable good.
In case of complete loss of the item before contract perfection, the contract is void, releasing both parties from obligations.
If there is a partial loss before perfection, the buyer may choose to demand a proportionate reduction in price or accept the item as is.

Risk of Loss and Seller's Standard of Care

A view mentioned indicates that the buyer bears the risk of loss once the item is in their possession or control.
The seller is expected to exercise ordinary care in preserving the sold item, ensuring it remains in a condition suitable for delivery.

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Description

This quiz explores the prohibition on judicial officers, lawyers, and other court personnel from acquiring property or rights involved in litigation within their jurisdiction. It includes regulations on acquiring such property through assignment.