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Sale Agency

The document compares and contrasts different types of transactions: 1) It contains 4 tables that differentiate between sales and other related transactions like agency, barter, contracts for work, and datation in payment based on key factors like consideration, risk, and freedom to set price. 2) A bonus table further distinguishes between earnest money and option money, noting that earnest money forms part of the purchase price for a perfected sale while option money is given for an option contract not yet finalized. 3) Overall, the tables methodically layout the distinguishing elements of various transactions involving the exchange or transfer of goods, services, and money.

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KAYE JAVELLANA
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40 views2 pages

Sale Agency

The document compares and contrasts different types of transactions: 1) It contains 4 tables that differentiate between sales and other related transactions like agency, barter, contracts for work, and datation in payment based on key factors like consideration, risk, and freedom to set price. 2) A bonus table further distinguishes between earnest money and option money, noting that earnest money forms part of the purchase price for a perfected sale while option money is given for an option contract not yet finalized. 3) Overall, the tables methodically layout the distinguishing elements of various transactions involving the exchange or transfer of goods, services, and money.

Uploaded by

KAYE JAVELLANA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Activity 1

Table 1

Sale Agency
 Buyer has to pay the price.  Agents are only accountable for the
proceeds of the sale he/ she can make
on the principal’s behalf.
 Ownership of the goods will be  Receives the goods but the ownership
transferred to the buyer. remains to the principal
 As a general rule, the buyer cannot  Agents can return the object to be sold
return the object sold. in case he/ she will not be able to sell it
to a third person.
 All the things sold, the seller gives  The agent makes no warranty for which
warrants. he assumes personal liability.
 Being the owner, buyer can deal with  In dealing with the thing received, the
thing sold as he pleases. agent must act and bound according to
the instructions of the principal.

Table 2

Sale Barter
 There is a contract involved.  There is no contract involved
 The vendor gives a thing in  Transaction involves direct exchange of
consideration for a price in money. things without the use of money

Table 3

Sale Contract for a piece of work


 The thing transferred would have  The thing transferred is not in existence
existed and been the subject of sale to and would never have existed but for
some other person. the order of the party desiring to
acquire.
 The risk of loss is borne by the buyer.  The risk of loss before delivery is borne
by the worker or contractor and not by
the employer.
 Covered by the Statute of Fraud.  Not covered by the Statute of Fraud.

Table 4

Sale Dation in Payment


 The cause or consideration of the sale is  The cause is the extinguishment of the
the price and delivery of the object. obligation.
 There is no pre-existing credit.  There is a pre-existing credit.
 It has greater freedom in terms of fixing  The amount of its pre-existing credit
the price. allows the dation in payment to have
less freedom in terms of fixing the price
in which the parties seek to extinguish.

Bonus Table

Earnest Money Option Money


 Part of the purchase price.  Money given as a distinct consideration
for the option contract and does not
form part of the purchase price.
 Applies to a perfected sale.  Applies to a sale not yet perfected.
 When the earnest money is already  When the would-be buyer gives option
given, the buyer is bound to pay the money, he/she is not required to pay.
balance.

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