Book Two: Nominate Contracts · Section One: Contracts of Transfer of Ownership · Chapter One: Contract of Sale · Part Two: Effects of Sale · 1. Payment of the Price and Taking Delivery of the Subject Matter of the Sale
If a specific date for payment of the price is set in the sale, and it is stipulated therein that if the purchaser does not pay the price on that date, there shall be no sale between them, and the purchaser does not pay it while the subject matter of the sale is remains in the seller's possession, the sale shall be deemed to be legally rescinded.
Interpretation and application must be checked against the official text and current version.
