Sales

• A sale of future inheritance is void.
• An oral sale of large cattle is void.
• A deed of sale where the consideration had not in fact been paid is a void contract of sale.
• Inadequacy of price does not invalidate a sale unless such inadequacy is so gross that it is unconscionable or shocking to the senses of men or to the judicial sensibilities of the court.
• While a contract of sale is void since it has no valuable consideration, it may be some other valid contract like a donation.
• Failure to pay the consideration is different from lack of consideration. The first only results to breach of contract of sale, while the latter voids a contract of sale.
• In the absence of a principal contract of loan, no contract of sale can be construed as an equitable mortgage.
• A contract of sale of necessaries entered into by a minor is valid.
• Married couples who are legally separated may enter into a contract of sale.
• An unpaid seller can no longer exercise his or her right of stoppage in transitu if the goods have already been received by the buyer or its agent.
• When an unpaid seller exercises his or her right of resale, the buyer shall be liable for any deficiency. But in case of profit, it shall inure to the benefit of the unpaid seller.
• In case of foreclosure of chattel mortgage over a personal property bought in installments, recovery of deficiency is not allowed. In case of excess, it shall belong to the mortgagor unless there is a stipulation to the contrary.
• If the redemption period is “after 10 years from date of sale”, it is a void stipulation and considered as if not written. Hence, the period shall be 4 years.
• The right of redemption of a co-owner defeats the pre-emptive right of an adjacent landowner.