What are the ways to extinguish sales?

annulment, rescission, fulllment of a resolutory condition, and prescription. transferee of the rights, or by the person entitled by the law in legal redemption. the full consummation of the contract of sale.

What is sale extinguishment?

Pacto de Retro sale refers to the sale wherein the seller has the right to repurchase the subject matter or the property being sold. The essence of a pacto de retro sale is that the title and ownership of the property sold transfers immediately to the vendee a retro.

What are the modes of extinguishment of obligation?

Obligations are extinguished: (1) By payment or performance; (2) By the loss of the thing due; (3) By the condonation or remission of the debt; (4) By the confusion or merger of the rights of creditor and debtor; (5) By compensation; (6) By novation. 2.

Is the right which the vendor reserves to himself to reacquire the property sold?

1601 ● Conventional Redemption Conventional redemption is the right which the vendor reserves to himself, to reacquire the property sold provided he returns to the vendee the price of the sale, the expenses of the contract, any other legitimate payments made therefor and the necessary and useful expenses made on the …

What is tender of payment?

the act of depositing the thing or amount due with the proper court when the creditor does not desire or cannot receive it.

What is the penalty for violation of the bulk sales law?

Any person violating any provision of this Act shall, upon conviction thereof, be punished by imprisonment for not less than six months, nor more than five years, or fined in a sum not exceeding five thousand pesos, or by both such imprisonment and fine, in the discretion of the court.

Is legal redemption a Resolutory condition?

(d) it is a resolutory condition because when exercised, the right of ownership acquired by the vendee is extinguished[Aquino vs. Deal, 63 Phil. 582]; (h) the person entitled to exercise the right of redemption necessarily is theowner of the property sold and not any third party [Gallar vs.

What is a legal tender example?

In the United States, all paper money and coins, in all its denominations, are accepted as legal tender. A business that is fulfilling an obligation of $25,000 might not be able to provide money in cash form but it might agree with the recipient to send the money through a wire transfer or a money order.