Level 1
Also known as condition precedent
Suspensive condition
Peanut bind herself to buy the dog of Butter for P1,000 if the dog arrives on her house on Saturday.
Suspensive Condition
What is a positive suspensive condition?
A condition that some event WILL HAPPEN at a determinate time.
The arrival of this period terminates a contract
Resolutory Period
Cheeze will only buy Whiz car if he could get a bond within 30 days.
Suspensive Condition
Fulfillment of a resolutory condition results to..
termination of a contract and extinguishment of an obligation or right.
Things subject to resolutory condition can be the object of a contract of sale
For failure to pay his debt, the land of Potato (mortgagor) was sold to Chips, the highest bidder and purchaser in an extra judicial foreclosure of a real estate mortgage. The land is redeemable at any time within one (1) year from and after the date of the sale.
Resolutory Condition
Explain the transfer of title in a sale subject to a positive suspensive condition and a resolutory condition.
Positive Suspensive Condition - does not pass to the vendee until the happening of the full payment of the purchase price.
Resolutory Condition - passes to the vendee upon the delivery of the thing sold.