Provisions under Laws on Sales, Agency and Credit Transactions.

Board Subjects Law on Sales Law on Agency Pledge, (ortgage, Antic)resis *C)attel (ortgage - Arts. 14 !-1"#$ - Arts. 1!"!-1&#' - 1!% articles " articles

- Arts. '%! -'141 $ articles ++++++++++++++ #%' articles '$ articles 4$ articles #$ articles +++++++++++++ 111 articles

Loan ,e-osit .uaranty

- Articles 1&# -1&"1 -Articles 1&"'-'%%! -Articles '%4 -'%!1

S-ecial Laws - /e-ublic Act 0o. " ' /ealty 1nstall2ent Buyer Protection Act 3 (aceda law4 - Presidential ,ecree 0o. & $ 5 Subdivision and Condo2iniu2 Buyer Protective ,ecree - Consu2er Act o6 t)e P)ili--ines 3 /.A. $#&44 - Pawns)o- /egulation Act - Act 0o. 1 %! C)attel (ortgage -SC Circulars on -rocedure 6or 6oreclosure 3real and c)attel (ortgages -So2e Pertinent Provisions o6 P, 44' 3Labor Code4 and legislations on Labor7 Constitutional Provision on Labor, (ini2u2 8age, 9oliday Pay, Pre2iu2 Pay, :verti2e Pay, 0ig)t S)i6t ,i66erential, Leaves 3S-ecial, (aternity, Paternity Solo4, 1# 2ont) -ay, ;asa2ba)ay law, Ter2ination, Se-aration Pay, /etire2ent Pay, Bene6its under <CP, SSS, P)il)ealt) and Pag-1big 9istorical Bac=ground o6 t)e Law on Sales Prior to t)e ado-tion o6 t)e 0ew Civil Law 3 /e-ublic Act 0o. #!"4, P)ili--ine laws on sales were based on t)e S-anis) Civil Code o6 1!!$ and t)e S-anis) Code o6 Co22erce o6 1!! . 1n 1&4$, )owever, a Code o6 Co22ission was created to dra6t and u-date t)e Civil Code. So2eti2e in ,ece2ber 1&4$, t)e Co22ission co2-leted its wor= and t)e 0ew Civil Code too= e66ect on August #%, 1& %.

Provisions on sales o6 t)e S-anis) Code o6 Co22erce were re-ealed and t)e distinction between civil and co22ercial laws was t)us eli2inated. 1nstead t)e Co22ission )ad ado-ted 2ajority o6 t)e -rovisions o6 t)e A2erican >ni6or2 Sales Act w)ic) was ado-ted by t)e 0ational Con6erence o6 Co22issioners on t)e >ni6or2 State Laws in 1&%$. T)e -ri2ary objective o6 t)is con6erence was to eli2inate t)e diversities in t)e law o6 sales w)ic) e?isted a2ong di66erent States in A2erica resulting to divergent inter-retations o6 sales contracts by t)e courts. T)e >ni6or2 Sales Act was largely declaratory o6 t)e co22on law rules w)ic) )ad been develo-ed and generally 6ollowed by di66erent states in A2erica at t)e ti2e it was dra6ted. Between 1&%" and 1&4$, #4 states enacted t)e >ni6or2 Sales Act. Anot)er 14 states c)ose not to enact it 39awaii and Alas=a did not beco2e 2e2bers o6 t)e union until 1& &4. T)e >ni6or2 Sales Act )ad been ado-ted by our Civil code wit) so2e 2odi6ications to suit t)e -rinci-les o6 P)ili--ine Law.

T)e P)ili--ine Law on Sales today as covered by title @1, Articles 14 ! to 1"#$ 3 1!% articles4 o6 t)e 0ew Civil Code is a blend o6 Civil Law and Co22on law -rinci-les.

:rigin o6 t)e contract o6 sale - T)e contract o6 sale )as its earliest =nown origin in /o2an Law. T)e na2e itsel6 o6 t)e /o2an AvenditioB or vendito or sale )as identi6ied in t)e 1talian ter2 A vendita, t)e S-anis) AventaC and t)e Drenc) AventeC T)e Tagalog 6or sale is Abili)anC