RFBT

• Article 1458


  By the contract of sale, one of the contracting parties obligates himself to transfer the ownership of and therefore to pay the price certain in money or its equivalent.

  A contract of sale maybe absolute or conditional
• Article 1600


  Sale is extinguished with same causes as all other obligations, by those stated in the preceding articles of this Title, and by conventional or legal redemption.
• Article 1601


  Conventional redemption takes place when the seller reserves the right to repurchase the thing sold, with the obligation to comply with the provisions of Article 1616 and any other stipulations which may have been agreed upon
• Consent


  As to the price that will be received by the seller and as to the price to be paid by the buyer
• Object


  Must be determinate and separate from its class, must be licit or legal
• Cause or Consideration


  Shall mean that both parties have agreed to the amount, if not fixed by a third person subsequently accepted by both contracting parties.
• Article 1482


  Whenever earnest money is given in a contract of sale, it shall be considered as part of the purchase price and as a proof of the perfection of the contract
• Article 1546


  Any affirmation of fact or any promise by the seller relating to the thing sold is an expressed warranty if the natural tendency of the affirmation or promise is to induce the buyer to purchase the same.
• Recto law


  Law on installment payments of personal properties
• Maceda Law


  R.A. 6552
• Maceda Law


  Law on sale of real properties
• Bouncing Check Law (Batas Pambansa Blg. 22)


  Law that penalizes the making or drawing and issuance of a check without sufficient funds or credit
• Accountancy


  Academic discipline at Xavier University - Ateneo de Cagayan
• Studocu is not sponsored or endorsed by any college or university
• Purpose of the law

  To penalize the making or drawing and issuance of a check without sufficient funds or credit and for other purposes
• Nature of the offense


  Criminal, as it is defined and penalized. Those criminally liable are also civilly liable.
• Two types of offenses covered by the law


  • Making or drawing and issuing a check knowing there are insufficient funds
  • Having sufficient funds at time of issue but failing to maintain sufficient funds for 90 days
• First offense


  1. Knowledge of insufficiency of funds

  2. Dishonored check

  3. Presentment within 90 days
• Second offense


  1. No knowledge of insufficiency of funds

  2. Dishonored check

  3. Presentment within 90 days
• Both offenses have the same penalty
• Requisites to be liable for violating BP 22


  • Making, drawing, and issuing a check
  • Knowledge of insufficient funds at time of issue
  • Subsequent dishonor of check
• Parties to a check


  • Drawer
  • Drawee
  • Payee
• Liability of parties


  Payee has no liability, drawee liable for notifying payee of dishonor, drawer liable to payee for amount of check
• Elements of notice of dishonour


  • Inform parties of failure to meet engagement
  • Advise parties they will be required to make payment
  • Check not accepted when presented for acceptance
  • Check not paid when presented for payment or maturity
  • Presentment excused or waived and instrument past due and unpaid
• Issuing bouncing check with false pretenses or fraudulent acts

  Presumption of deceit arises
• Maker or drawer fails to pay amount due despite notice of dishonor


  Presumption of knowledge of insufficiency of funds arises
• Effect of payment within 5-day period


  Criminal action against issuer is disallowed
• Post-dated check


  Check written and issued by debtor for a future date, may not be encashed or deposited until that time
• Post-dated checks can be dishonored on account of stop payment order, but RA 1146 provides 30-day grace period for loan and rent transactions</b>
• Elements of estafa by issuing a bouncing check
• Post-dated check


  A check that is written and issued by the debtor for a date in the future and may not be encashed or deposited until such time
• A post-dated check can be dishonored on account of a stop payment order
• According to RA 1146, also known as the "Bayanihan to Heal As One Act," Section 4-aa & bb provides a minimum of 30-day grace period for every loan and rent
• The 30-day grace period means that the loan or rent is not yet payable and, therefore, the post-dated check should not be deposited or, if deposited, the drawee bank should not process it, which means that there is no occasion for the PDC to be dishonored
• The grace period covers only loan transactions and rental payments for residential units
• The grace period does not cover other transactions, such as non-loan commercial transactions and rent for commercial units
• Elements of estafa by issuing a check – estafa thru issuance of bouncing check


  • A check is postdated or issued in payment of an obligation contracted at the time the check is issued
  • Lack or insufficiency of funds to cover the check
  • Damage to the payee thereof
• It is the deceit or fraud attendant to the issuance of the check which is punished
• A person liable for BP 22 may at the same time be liable for Estafa under Article 315 (2-d) of the Revised Penal Code
• Distinguish BP 22 v estafa


  • BP 22: Batas Pambansa Bilang 22 - The Anti-Bouncing Check law
  • ESTAFA: Article 315 (2-d) on Swindling/Estafa of the Revised Penal Code