Part III - Effects of the Contract When The Thing Has Been Lost Flashcards
What is the effect when at the time of the contract, the object is entirely lost?
How about if the the object is lost partially?
When at the time of the perfection of the contract of sale, the object is entirely lost, the contract shall be without any effect.
If the object is lost in part only, the buyer may withdraw the contract or enforce such contract by demanding the remaining part and pay the price in proportion of what they have agreed.
What is the effect when the specific object of the contract has perished in part, or have wholly or in a material part so deteriorated in quality as to be substantially changed in character?
The buyer may treat the sale as avoided or valid in all of the existing object or in much thereof as have not deteriorated, and binding him to pay the agreed price if the sale is divisible.
