Sale Flashcards
A contract where one party (the seller) obligates themselves to deliver a determinate thing, and the other party (the buyer) obligates themselves to pay a price certain in money or its equivalent.
Sale
Provisions in a contract of sale that ensure compliance with terms or guarantee the quality, fitness, or title of the thing sold.
Conditions and Warranties
The seller’s obligation to reimburse the buyer if the latter is deprived of the property due to a prior valid claim by another party.
Warranty in case of eviction
The seller’s guarantee that the thing sold is free from any hidden defects that render it unfit for the intended use or diminish its value significantly.
Warranty against hidden defects
The right of a co-owner or adjoining property owner to purchase the property under certain circumstances, as prescribed by law.
Legal redemption
A contract where parties transfer ownership of goods or property to each other without monetary consideration.
Barter or exchange
A law regulating the sale of a business’s entire inventory to protect creditors by requiring notices or consents before such a sale.
Bulk sales law
A contract where one party (the agent) agrees to represent or act on behalf of another (the principal) in dealing with third parties.
Agency
The person who appoints an agent to act on their behalf in transactions with third parties.
Principal
Agreements where one party provides money, goods, or services to another, with the obligation to repay or return equivalent value later.
Credit transaction
A contract where one party delivers money or consumable goods to another, with the obligation to return an equivalent amount.
Loan
A gratuitous contract where the lender delivers a non-consumable thing to the borrower for temporary use, with the obligation to return it.
Commodatum
The person who receives a thing in a contract of deposit or commodatum.
Bailee
The person who delivers a thing in a contract of deposit or commodatum.
Bailor
A loan of money or consumable goods where the borrower is obliged to return an equivalent amount of the same kind and quality.
Mutuum
A contract where one party delivers a thing to another for safekeeping, with the obligation to return it upon demand.
Deposit
A deposit agreed upon by the parties, whether gratuitous or for compensation.
Voluntary deposit
A deposit made due to an urgent or unavoidable circumstance, such as calamities or emergencies.
Necessary deposit
A judicial deposit where property is placed in the custody of the court or a third party pending the resolution of a dispute.
Sequestration deposit
A contract where a person binds themselves to fulfill another’s obligation in case the latter fails to do so.
Guaranty
A contract where the debtor delivers movable property to the creditor as security for an obligation.
Pledge
A contract where real or personal property is given as security for a debt or obligation, without transferring ownership.
Mortgage
A mortgage involving immovable property or real rights as security for an obligation.
Real mortgage
A contract where the debtor delivers immovable property to the creditor, allowing the latter to receive its fruits or income as payment for the interest or principal obligation.
Antichresis
