The court shall decree the rescission claimed, unless there be just cause authorizing the fixing of a period. This is understood to be without prejudice to the rights of third persons who have acquired the thing, in accordance with articles 1385 and 1388 and the Mortgage Law. 9. A – A nnulment – refer to voidable contracts – discussed in Law on Contract 10. Arts. 1106-1155 P - P rescription Layman’s Term – “Nagpaso”/ nawala “sa tagal ng panahon” -LOST BY PASSAGE OF TIME/ -TIME HAS ELAPSED/EXPIRED Art. 1106 – One acquires ownership and other legal rights through the lapse of time in the manner and under the conditions laid down by law. NOTE: INCLUDE: Arts. 1178/1192 Article 1178 . Subject to the laws, all rights acquired in virtue of an obligation are transmissible, if there has been no stipulation to the contrary. Article 1192 . In case both parties have committed a breach of the obligation, the liability of the first infractor shall be equitably tempered by the courts. If it cannot be determined which of the parties first violated the contract, the same shall be deemed extinguished, and each shall bear his own damages. “AS LONG AS WE KEEP ON SEEKING, THERE ARE NEW WORLDS TO BE FOUND!” Prepared by: ATTY. GENE B. CALONGE Assistant Professor
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