Sales and Leases Flashcards
(12 cards)
What are the essential elements of a sale?
1) CONSENT of the parties;
2) an OBJECT of the sale; and
3) a PRICE.
What is required for a sale of an immovable?
1) it must be IN WRITING; and
2) properly RECORDED in the conveyance records of the parish where the property is located.
What is the MIRROR IMAGE rule for ACCEPTANCE of an IMMOVABLE?
The offer and acceptance must match exactly, otherwise there is no offer.
If the acceptance deviates at all, then it is not an acceptance but a counteroffer.
What is necessary for acceptance of a contract of sale for a movable?
There must be agreement on THING and PRICE.
What are the SELLER’S primary OBLIGATIONS?
What is a sale on VIEW or TRIAL?
What WARRANTIES does the seller owe the buyer of a thing?
1) Warranty against EVICTION;
2) warranty against REDHIBITION; and
3) warranty of FITNESS.
When may a buyer seek recission for a REDHIBITORY defect?
A buyer may seek recission for a redhibitory defect if the defect renders the thing absolutely worthless or so inconvenient that the buyer would not have purchased the thing had he known of the problem.
What is required for a defect to be REDHIBITORY?
1) The defect must not have been known to the buyer at the time of sale; AND
2) the defect must not be apparent, i.e., it must not have been discoverable by a reasonably prudent buyer of such things.
Can the warranty against REDHIBITION be WAIVED?
Yes, but it must be done in CLEAR and UNAMBIGUOUS terms, AND
BROUGHT TO THE BUYER;S ATTENTION.
“As is” is NEVER considered clear and unambigous!
What is the PRESCRIPTIVE PERIOD for a claim fo breach of warranty for REDHIBITION?
1 year of the discovery of the defect, OR
if brought against a GOOD FAITH seller, 2 years from delivery.
