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Businesslaw

In: Business and Management

Submitted By ilet06
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1. In what instance can a minor validly enter into a contract of sale? Give legal basis. Give example. * A minor can validly enter into a contract of sale when necessaries are sold and delivered to him; he is obliged to pay a reasonable price. This is what is stated in article 1489 paragraph 2 of the civil code.
Example:
2. Why husband and wife cannot sell property to each other? What instances can husband and wife sell property to each other? Explain. * The prohibition that husband and wife cannot sell property to each other because it is primarily for the protection of the third persons who, relying upon supposed property of either spouse enters into a contract with either of them only to find out that the property relied upon was transferred to the other spouse. * The law under article 1490 mentioned two instances where husband and wife have the capacity to buy from or sell to each other. They are the following: 1. When a separation of property was agreed upon in the marriage settlements 2. When there has been a judicial separation of property under 191 (now art. 135 of the new family code). 3. Enumerate the prohibited sale transactions.
The following persons cannot acquire by purchase, even at a public or judicial auction, either in person or through the mediation of another: a. The guardian, the property of the person or persons who may be under his guardianship. b. Agents, the property whose administration or sale may have been entrusted to them, unless the consent of the principal has been given. c. Executors and administrators, the property of the estate under administration. d. Public officers and employees, the property of the State or any subdivision thereof or of any government owned and controlled corporation, or institution, the administration of which has…...

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