Extinguishment of Sale

Question 1

What are the common means of extinguishment? (PaLoReMeNoConComNo)

Answer 1

p. 219

Question 2

What are the extra special means of extinguishment?

Answer 2

p. 219

Question 3

Is conventional redemption applicable to real or personal property?

Answer 3

Both

Question 4

This takes place when the vendor reserves the right to repurchase the thing sold and exercises it.

Answer 4

Conventional Redemption

Question 5

This is akin to a mortgage. It is lacking in some formality, form or words, or other requisites demanded by a statute, but reveals the intention of the parties to charge a real property and security for a debt.

Answer 5

Equitable mortgage

Question 6

In case of doubt of whether a transaction is a pact de retro sale or an equitable mortgage, what is the presumption?

Answer 6

Equitable mortgage

Question 7

This is an equitable remedy by which a court will modify a written agreement to reflect the actual intent of the parties.

Answer 7

Reformation

Question 8

If the vendor a retro sold the property subject of a pact de retro sale, what happens? Who has the better right?

Answer 8

p. 221

Question 9

If there is no period of redemption stipulated, how many years is the period?

Answer 9

4 years from the date of the contract

Question 10

If only the right to repurchase is mention but no express stipulation made on the time, what is the period?

Answer 10

4 years from the date of the contract

Question 11

If there is an agreement as to period of redemption, what are the rules?

Answer 11

It cannot exceed 10 years. The years on top of the 10 year limit is void.

Question 12

If there was an intention to set a period for repurchase but the parties failed to do so, what is the period of redemption?

Answer 12

Maximum of 10 years

Question 13

Once the courts have decided that the transaction was indeed a pact de retro sale, the seller may still redeem in how many days?

Answer 13

30 days from the judgment

Question 14

This is the substitution of one party for another whose debt the party pays, entitling the paying party to rights, remedies, or securities that would otherwise belong to the debtor.

Answer 14

Subrogation

Question 15

Can the vendee demand of all the vendors or co-heirs that they come to an agreement upon the purchase of the whole thing sold?

Answer 15

Yes. If they fail, the vendee cannot be compelled to accept partial redemption. p. 227

Question 16

Can co-heirs redeem the whole of the thing sold?

Answer 16

No. They can only repurchase up to their share.

Question 17

This is the right to be surrogated, upon the same terms and conditions stipulated in the contract, in the place of one who acquires a thing.

Answer 17

Legal redemption

Question 18

What are the instances of legal redemption?

Answer 18

p. 230

Question 19

When does the right of legal redemption cease to exist?

Answer 19

p. 230

Question 20

This is the right to buy before others.

Answer 20

Right of pre-emption or right of first refusal

Question 21

If there is a sale between two-co-owners, is there a right to repurchase?

Answer 21

No

Question 22

Is redemption a mode of terminating co-ownership?

Answer 22

No

Question 23

Is there an automatic transfer of title in non-redemption?

Answer 23

No

Question 24

Based on the local government code, the redemption by owner of real property sold for delinquent taxes has a period of?

Answer 24

1 year after the registration of sale

Question 25

According to the Public Land Act, repurchase by homesteader of homestead sold has a period of?

Answer 25

5 years from sale

Question 26

based on Rule 39 of the Rules of Court, redemption by judgment debtor sold on execution, the period is?

Answer 26

1 year

Question 27

According to the new rule sof civil procedure, redemption by mortgagor is how many years should his mortgaged property be foreclosed and subsequently sold?

Answer 27

1 year