Breach of contract Flashcards
Rescission of a contract will not be permitted for a slight or casual
breach, but only for such ____________ and _________________breach as would defeat the very object of the parties in making the agreement.
substantial, fundamental
Prescriptive periods: BREACH OF CONTRACT
____ years if based on written contract
____ years if based on oral contract
10, 6
The seller may exercise his right of lien
notwithstanding that he is _____________
of the goods as agent or bailee for the
buyer.
in possession
If the buyer refuses to receive the
goods after the same are delivered to
the carrier or other bailee on his
behalf, though the seller has parted
with both ownership and possession.
Here, the seller may _________ the
goods and ________ the lien.
reclaim, revest
If the buyer returns the goods in Possessory lien is lost after the seller loses possession but his lien as an unpaid seller________. His preference can only be defeated by the government’s claim to the specific tax on the goods
remains
An extension of the ____ for the price;
entitles unpaid seller to resume
possession of the goods while they are in
transit before the goods come in
possession of the vendee.
lien
Requisites for the exercise of stoppage in transit:
(a) The seller is unpaid
(b) The buyer is _____________.
(c) The goods are in transit
(d) The seller either takes actual
______________, or gives notice of claim to
the carrier or other person possessing
the goods
(e) The seller must __________ the
negotiable instrument or title, if any,
issued by the carrier/bailee
(f) The seller must bear the expenses of
the delivery of the goods after
__________ of such right.
insolvent, possession, surrender, exercise
When Goods Are In Transit?
(a) From the time of delivery to the
carrier or other bailee by the seller,
for the purpose of transmission to the
buyer, until the buyer or his agent
takes such delivery from the carrier.
(b) Even when goods have reached their
ultimate destination, if buyer rejects
them and carrier retains _____________.
possession
To terminate transit by delivery to a
middleman, delivery must be to keep, not
to ____________.
transport
In case of misdelivery, the goods are still
considered in _________, hence, the seller
may still exercise his right pursuant.
transit
Available to unpaid seller who has a right
of lien or who has stopped the goods in
transitu.
Special Right of Resale
The unpaid seller has either a right of lien or has stopped the goods in transitu and under any of the following conditions:
(a) The goods are _________ in nature.
(b) The right to resell is expressly
reserved in case the buyer should
default.
(c) The buyer __________ in paying the price
for an unreasonable time.
The right to resell the goods is not
mandatory, but permissive.
perishable, delays
Seller is no longer liable to the
original buyer upon the contract of
sale or for any profit made by the
_______.
resale
Return of the title over the undelivered
goods to the seller, and right to recover
damages for breach of contract .
Special Right to Rescind
Seller’s right to stoppage in transitu is ____________ even if buyer has
sold or disposed of the goods unless the seller has given his assent thereto.
not affected
