What is traditio constitutum possessorium?
Argues that constitutum possessorium or possessory agreement, under which the current owner/possessor agrees to hold property under a new title such as usufruct, was recognised by classical jurists in appropriate cases as a means of transferring possession and ownership without actual delivery.
What is traditio Symbolica?
Traditio symbolica is by delivery of a symbol representing the thing which is delivered, such as the key to a warehouse. Traditio constitutum possessorium by the grantor alienates a thing belonging to him, but continues in possession thereof under a different title, such as that of a lessee, pledgee or depositary.
What is the recto law?
Recto, the statute was called Act No. 4122, otherwise known as the Installment Sales Law. Its main purpose is to prevent potential abuses by the seller in the event that the buyer is unable to make further installments for a property. It was passed by the Philippine Legislature on December 9, 1933.
Who is unpaid seller explain?
Unpaid Seller: Definition ) When the whole of the price has not been paid or tendered; b) When a bill of exchange or other negotiable instrument has been received as conditional payment and the condition on which it was received has not been fulfilled by reason of the dishonour of the instrument or otherwise.
What is Pactum Commissorium?
> Automatic appropriation by the creditor of the thing pledged or mortgaged upon the failure of the debtor to pay the principal obligation.
What is the purpose of Recto law?
What is pacto de retro sale?
It means sale with stipulation for repurchase. It is a principal contract. It also means contract of retrocession and it was used historically: It was the process by which a principal acquired control of most land in the province, pacto de retrovendendo (pacto de retro, or pacto, for short).
What are the rights and duties of unpaid seller?
Duties of an Unpaid Seller
- Duty to inform the buyer in case of dishonor of cheque or other negotiable instrument.
- Duty to deliver back the goods after the payment has been made after the exercise of right to stoppage in transit.
What are the rights of an unpaid seller against the goods?
An unpaid seller can exercise his right of resale under the following conditions: He can claim damages from the original buyer even if he does not give a notice of resale to him. Property in the goods has not passed to the buyer: The unpaid seller can exercise his right of withholding delivery of goods.
What is the concept of pactum Reservati Dominii?
Contrary stipulation or Pactum reservati dominii (contractual reservation of title) – a stipulation, usually in sales by installment, whereby, despite delivery of the property sold, ownership remains with the seller until full payment of the price is made.
What is the meaning of Pacto Comisorio?
The “pacto comisorio” or “ley comisoria” is nothing more than a condition subsequent of the contract of purchase and sale.
What is the definition of a Constitutum possessorium?
Argues that constitutum possessorium or possessory agreement, under which the current owner/possessor agrees to hold property under a new title such as usufruct, was recognised by classical jurists in appropriate cases as a means of transferring possession and ownership without actual delivery.
What is the meaning of the word Constitutum?
constitutum possessorium. noun. constitutum pos·ses·so·ri·um | \\-ˌpōzəˈsōrēəm, -sȯr-\\. Roman law. : the change in intention of one having legal possession of real or personal property whereby the original possessor of the property remains in control but transfers the legal possession to another.
What does possessory agreement mean in Roman law?
[Latin “possessory agreement”] Roman law. 1. A type of constructive delivery in which mediate possession is transferred while the immediate control or custody remains in the transferor. 2. The agreement by which this transfer is brought about.?