Civil Code Art. 1484: Nature and Form of the

Statute: Civil Code
Article: Art. 1484
Topic: Nature and Form of the Contract
Book: BOOK IV Obligations and Contracts
Title: TITLE VI SALES
Chapter: CHAPTER 1 Nature and Form of the Contract
Year: 1949

The provision

In a contract of sale of personal property the price of which is payable in installments, the vendor may exercise any of the following remedies: (1) Exact fulfillment of the obligation, should the vendee fail to pay; (2) Cancel the sale, should the vendee's failure to pay cover two or more installments; (3) Foreclose the chattel mortgage on the thing sold, if one has been constituted, should the vendee's failure to pay cover two or more installments. In this case, he shall have no further action against the purchaser to recover any unpaid balance of the price. Any agreement to the contrary shall be void. (1454-A-a)

Note: these provisions are known as the Recto Law, on the sale of personal property by installments, and remain in force.

Cases applying this article

Dr. Macario Q. Falcon v. The Honorable Intermediate Appellate Court G.R. No. 74049
Antonio Locsin Ii v. Mekeni Food Corporation G.R. No. 192105
Pci Leasing v. Giraffe-X Creative Imaging G.R. No. 142618
Metro Manila Transit Corporation v. D.M. Consortium G.R. No. 147594
Spouses Alfredo v. Pci Leasing G.R. No. 139233

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