Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
(3) In the cases provided in the second, third, and last paragraphs of
Article 1503.
Where seller or his agent is consignee
Goods are shipped, seller is consignee and by the bill of lading the goods
are deliverable to the seller ( or his agent) or to the order of the seller (or
his agent).
Bill of Iading
It is a contract or receipt for the transport of goods and their
delivery to the person named therein, to order, or to bearer. lt usually
involves three (3) persons: the carrier, the shipper, and the consignee. The
shipper and the consignee may be one and the same person.
Rights of seller
The seller may not only retain the goods until the buyer
performs his obligation under the Contract, but he may, even in
violation of the contract, dispose of them to third persons.
Where seller’s title only for purpose of security
Effect of retention
Although the property in the goods will ordinarily pass to the
buyer on delivery, the latter is unable to obtain the goods without
the bill. The effect of the retention of the bill of lading, under such
circumstances, controlling as it does the possession of the goods, is,
therefore; closely analogous to the retention of a lien by the seller
after the property has passed to the buyer.
Where bill of lading is sent forward with draft attached
Delivery conditional
Where the seller draws on the buyer for the price and transmits
the bill of exchange and the bill of lading together to the buyer to
secure acceptance or payment of the bill of exchange (par.4),
A purchaser in good faith for value of the bill of Iading or goods from the
buyer will obtain the ownership in the goods although the bill of exchange
has not been honored.
Section 1504
Risk of Loss
Risk of loss generally attends title
(1) Where the seller reserves the ownership of the goods merely to secure
the performance by the buyer of his obligation under the contract, the
ownership is considered transferred to the buyer who, therefore, assumes the
risk from the time of delivery.
(2) Where actual delivery has been delayed through the fault of either the
buyer or seller, the goods are at the risk of the party at fault with respect to
any loss which might not have occurred but for such fault. In this case, the
law punishes the party at fault.
Risk of loss by fortuitous event after perfection
but before delivery
By Article 1480, as already pointed out, the risk of loss of the thing
after perfection is shifted from the seller to the buyer even though the
buyer has not yet acquired ownership thereof.
It is a fundamental doctrine of law that no one can give what he has not. Sale
is a derivative mode of acquiring ownership and the buyer gets only such
rights as the seller had. The exceptions to the rule are given below.
(1) Where the owner of the goods is, by his conduct, precluded from
denying the seller’s authority to sell.
(2) Where the law enables the apparent owner to dispose of the goods as if
he were the true owner thereof.
(5) Where the seller has a voidable title which has not been avoided at the
time of the sale. (Art.1506)
If the seller has only a voidable title to the goods, the buyer acquires a good
title to the goods provided he buys them:
2) Goods
Includes all chattels personal but not things in action or money of legal
tender in the Philippines. The term ' includes growing fruits or crops.
(3) Order
Relating to documents of title means an order by indorsement on the
documents.
Section 1507
They all have this in common: that they are receipts of a bailee, or
orders upon a bailee.
Nature and function of documents of title.
(2) Evidence of transfer of title and possession of goods and contract between
the parties
A document of title is a symbol of the goods covered by it, serving as:
(a) transfer of title
(b) transfer of possession
(c) contract between the parties who are bound by its terms.
(1) Negotiable documents of title or those by the terms of which the bailee
undertakes to deliver the goods to the bearer and those by the terms of
which the bailee undertakes to deliver the goods to the order of a
specified person; or
Delivery
Negotiation of a negotiable document by delivery
Indorsement
Negotiation of Negotiable Document by Indorsement
“ Non- Negotiable”
Negotiable Documents of Title Marked “Non-negotiable”