- Statute
- Civil Code
- Article
- Art. 1469
- Topic
- Nature and Form of the Contract
- Status
- In force
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE VI SALES
- Chapter
- CHAPTER 1 Nature and Form of the Contract
- Formerly
- Art. 1447a of the old Civil Code
- Year
- 1949
- Cited by
- A Supreme Court decision
The provision
In order that the price may be considered certain, it shall be sufficient that it be so with reference to another thing certain, or that the determination thereof be left to the judgment of a special person or persons. Should such person or persons be unable or unwilling to fix it, the contract shall be inefficacious, unless the parties subsequently agree upon the price. If the third person or persons acted in bad faith or by mistake, the courts may fix the price. Where such third person or persons are prevented from fixing the price or terms by fault of the seller or the buyer, the party not in fault may have such remedies against the party in fault as are allowed the seller or the buyer, as the case may be. (1447a)
Intellegal Wiki · In plain terms
A sale's price counts as 'certain' even if it is not a fixed number, as long as it can be tied to another definite thing or left to a named third person to set. If that person cannot or will not fix it, the sale fails unless the parties later agree; if the third person acted in bad faith or by mistake, the courts may set the price, and if one party blocked the pricing, the other has remedies.
An editorially maintained plain-language explanation of this provision — not legal advice.
Cases applying this article
- Francisco Irureta Goyena v. Ildefonso Tambunting G.R. No. 956