This case has been cited 5 times or more.
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2013-12-11 |
PERLAS-BERNABE, J. |
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| At this juncture, the Court must dispel the notion that the stipulation anent MTCL's reservation of ownership of the subject products as reflected in the Invoice Receipt, i.e., the title reservation stipulation, changed the complexion of the transaction from a contract of sale into a contract to sell. Records are bereft of any showing that the said stipulation novated the contract of sale between the parties which, to repeat, already existed at the precise moment ACE Foods accepted MTCL's proposal. To be sure, novation, in its broad concept, may either be extinctive or modificatory. It is extinctive when an old obligation is terminated by the creation of a new obligation that takes the place of the former; it is merely modificatory when the old obligation subsists to the extent it remains compatible with the amendatory agreement. In either case, however, novation is never presumed, and the animus novandi, whether totally or partially, must appear by express agreement of the parties, or by their acts that are too clear and unequivocal to be mistaken.[38] | |||||
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2010-08-09 |
DEL CASTILLO, J. |
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| Initially, it is best to emphasize that "novation is not one of the grounds prescribed by the Revised Penal Code for the extinguishment of criminal liability."[34] | |||||
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2004-07-30 |
PANGANIBAN, J. |
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| Although the first Disclosure Statement was furnished Petitioner NSBCI prior to the execution of the transaction, it is not a contract that can be modified by the related Promissory Note, but a mere statement in writing that reflects the true and effective cost of loans from respondent. Novation can never be presumed,[104] and the animus novandi "must appear by express agreement of the parties, or by their acts that are too clear and unequivocal to be mistaken."[105] To allow novation will surely flout the "policy of the State to protect its citizens from a lack of awareness of the true cost of credit."[106] | |||||
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2003-12-11 |
QUISUMBING, J. |
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| Novation, in its broad concept, may either be extinctive or modificatory.[41] It is extinctive when an old obligation is terminated by the creation of a new obligation that takes the place of the former; it is merely modificatory when the old obligation subsists to the extent it remains compatible with the amendatory agreement.[42] An extinctive novation results either by changing the object or principal conditions (objective or real), or by substituting the person of the debtor or subrogating a third person in the rights of the creditor (subjective or personal).[43] Novation has two functions: one to extinguish an existing obligation, the other to substitute a new one in its place.[44] For novation to take place, four essential requisites have to be met, namely, (1) a previous valid obligation; (2) an agreement of all parties concerned to a new contract; (3) the extinguishment of the old obligation; and (4) the birth of a valid new obligation.[45] | |||||
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2002-06-26 |
BELLOSILLO, J. |
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| Significantly, novation is never presumed. It must appear by express agreement of the parties, or by their acts that are too clear and unequivocal to be mistaken for anything else. An obligation to pay a sum of money is not novated in a new instrument wherein the old is ratified by changing only the terms of payment and adding other obligations not incompatible with the old one, or wherein the old contract is merely supplemented by the new one.[31] | |||||