Editing Contracts/Definitions
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==Commutative Contracts== | ==Commutative Contracts== | ||
"Commutative contract" is a term used in the civil law to designate a contract in which each of the contracting parties gives and receives an equivalent.<ref>'''[a] Different classes.'''- "Such contracts are, usually distributed into four classes namely: ''Do ut des'' (I give that you may give); ''Facio ut facias'' (I do that you may do); ''Facio ut des'' (I do that you may give); ''Do ut facias'' (I give that you may do)." Bouvier L. D.<br /> | "Commutative contract" is a term used in the civil law to designate a contract in which each of the contracting parties gives and receives an equivalent.<ref>'''[a] Different classes.'''- "Such contracts are, usually distributed into four classes namely: ''Do ut des'' (I give that you may give); ''Facio ut facias'' (I do that you may do); ''Facio ut des'' (I do that you may give); ''Do ut facias'' (I give that you may do)." Bouvier L. D.<br /> | ||
'''[b]''' {{Quote|'''A resolutory condition is implied in all commutative contracts''', to take effect in case either of the parties does not comply with his engagements; in this case the contract is not dissolved of right; the party complaining of a breach of the contract may either sue for its dissolution with damages, or, if the circumstances of the case permit, demand a specific performance. . . . The dissolving condition . . . when accomplished, operates the revocation of the obligation, placing matters in the same state as though the obligation had not existed. The creditor seeking to avail himself of it is obliged to restore what he has received. . . . If the buyer does not pay the price, the seller may sue for the dissolution of the sale. . . . In certain cases the jduge may grant to the buyer a longer or shorter time, according to circumstances, provided such term exceed not six months. . . . In order to enforce the resolutory con d i t i o n th e re m u s t be a j u d i cial demand a n d a regular adj u d i c a t i o n . . . . T h i s res olu tory co n d i t i o n may be waived. or such c h a n g e s m a y have take n p l a c e t h a t the parties can n o t be p u t back Into the same position I n wh ich they were, o r the del i n qu e n t pa r ty may have had a proper ex cuse fo r want of p rompt ness In performance ; all which th ings are p roper to be submitted to the j u d g m e n t of a cou rt.}} Ridings v. | '''[b]''' {{Quote|'''A resolutory condition is implied in all commutative contracts''', to take effect in case either of the parties does not comply with his engagements; in this case the contract is not dissolved of right; the party complaining of a breach of the contract may either sue for its dissolution with damages, or, if the circumstances of the case permit, demand a specific performance. . . . The dissolving condition . . . when accomplished, operates the revocation of the obligation, placing matters in the same state as though the obligation had not existed. The creditor seeking to avail himself of it is obliged to restore what he has received. . . . If the buyer does not pay the price, the seller may sue for the dissolution of the sale. . . . In certain cases the jduge may grant to the buyer a longer or shorter time, according to circumstances, provided such term exceed not six months. . . . In order to enforce the resolutory con d i t i o n th e re m u s t be a j u d i cial demand a n d a regular adj u d i c a t i o n . . . . T h i s res olu tory co n d i t i o n may be waived. or such c h a n g e s m a y have take n p l a c e t h a t the parties can n o t be p u t back Into the same position I n wh ich they were, o r the del i n qu e n t pa r ty may have had a proper ex cuse fo r want of p rompt ness In performance ; all which th ings are p roper to be submitted to the j u d g m e n t of a cou rt.}} Ridings v. John s o n , 1 2 8 u. s. 2 1 2 . 216, 9 set 7 2. 3 2 L. ed. 401.<br /> | ||
'''[c] In Louisiana''' commutative contracts are declared to be "those in which what is done, given or promIsed b y on e party, Is con side red as e quival ent to, or a cons ideration for what is done. given or promised by the other." Clv. Code art 1768 : Rid· irgs v . Johpson, 1 2 8 U. S. 2 1 2 . 2 1 5 , 9 S C:t 72. 32 L. ed. 401 : Goodson v. Vivian 011 Co., 1 2 9 La. 9 6 5 , 57 S 281. See Delabl nrre v. New Orleans Sec. on d Municipality, 3 La. Ann. 230.</ref> The contract of sale is of thls kind: the seller gives the thing sold, and receives the price which is the equivalent; the buyer gives the price, and receives the thing sold, which is the equivalent. | '''[c] In Louisiana''' commutative contracts are declared to be "those in which what is done, given or promIsed b y on e party, Is con side red as e quival ent to, or a cons ideration for what is done. given or promised by the other." Clv. Code art 1768 : Rid· irgs v . Johpson, 1 2 8 U. S. 2 1 2 . 2 1 5 , 9 S C:t 72. 32 L. ed. 401 : Goodson v. Vivian 011 Co., 1 2 9 La. 9 6 5 , 57 S 281. See Delabl nrre v. New Orleans Sec. on d Municipality, 3 La. Ann. 230.</ref> The contract of sale is of thls kind: the seller gives the thing sold, and receives the price which is the equivalent; the buyer gives the price, and receives the thing sold, which is the equivalent. | ||
==References== | ==References== | ||
{{reflist}} | {{reflist}} |