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All Jurisprudence based

0 tracked cards Civil Law and Land Titles and Deeds

(a)State the governing definition of a contract and its essential elements under the Civil Code. (b) In a private land transaction, Liza signs a Deed of Sale with Marco for Lot 26, Block 7, Silverline Estates, TD-2024-30 (600 sqm) at PHP 6,000,000. The deed contains a suspensive condition: "Transfer of title shall occur only upon the buyer securing, within 45 days, a bank loan commitment and release of funds to the seller." The buyer obtains the loan and furnishes the seller with the loan funds and signatures on the deed. The seller then refuses to deliver the title and later sells the parcel to another party. The buyer sues, claiming there was a contract. Decide: (i) whether a contract existed, considering the presence of the suspensive condition; (ii) explain how the condition affects the existence and performance of the contract, and what remedies may follow if the contract is deemed formed or not formed. (c) If you hold that no contract existed, outline the remedies the buyer could pursue (e.g., restitution, damages) and explain why.

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Yes, a contract existed from signing; the suspensive condition is a condition precedent and does not prevent formation; since the buyer secured a bank loan commitment and funds were released, the contract matured; the seller’s refusal to transfer title constitutes breach; remedies include specific performance (delivery of title) or damages. Yes, the contract existed, but only to the extent that the money passed; the condition being satisfied means the contract is enforceable for damages but not for specific performance because title transfer is inherently personal. Yes, the contract existed, but the condition operates as a suspensive condition that voids the contract if not fulfilled; the remedy would be rescission plus restitution. No, the description of the property is defective; without a sufficiently certain object, there is no contract.

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