- Statute
- Civil Code
- Article
- Art. 1592
- Topic
- Obligations of the Vendee
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE VI SALES
- Chapter
- CHAPTER 5 Obligations of the Vendee
- Formerly
- Art. 1504a of the old Civil Code
- Year
- 1949
The provision
In the sale of immovable property, even though it may have been stipulated that upon failure to pay the price at the time agreed upon the rescission of the contract shall of right take place, the vendee may pay, even after the expiration of the period, as long as no demand for rescission of the contract has been made upon him either judicially or by a notarial act. After the demand, the court may not grant him a new term. (1504a)
Note on current application: for sales of residential real property on installment, the Maceda Law (Republic Act No. 6552) provides additional buyer protections.
Cases applying this article
- Heirs of Cayetano Pangan v. Spouses Rogelio Perreras G.R. No. 157374
- Alfonso L. Iringan v. Hon. Court of Appeals G.R. No. 129107
- Lino R. Topacio v. Hon. Court of Appeals G.R. No. 102606
- Laurencio C. Ramel v. Daniel Aquino G.R. No. 133208
- Perla Palma Gil v. Hon. Court of Appeals G.R. No. 127206
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