Table of Contents
Download the Table of Contents as a PDF
TITLE VIII - OF EXCHANGE
Art. 2660. Exchange is a contract, by which the parties to the contract give to one another, one thing for another, whatever it be, except money; for in that case it would be a sale.
Art. 2661. An exchange takes place by the bare consent of the parties.
Art. 2662. If one of the exchangers, after having received the thing given to him in exchange, learn that the other exchanger is not the proprietor of that thing, he can not be compelled to deliver that which he had promised to give in exchange; he is only bound to return the thing which he has received.
Art. 2663. The exchanger, who is evicted by a judgment of the thing he has received in exchange, has his choice either to sue for damages or for the thing he gave in exchange.
Art. 2664. The rescission of the contract on account of lesion is not allowed in contracts of exchange, except in the following cases.
Art. 2665. The rescission on account of lesion beyond moiety takes place, when one party gives immovable property to the other in exchange for movable property; in that case, the person having given the immovable estate may obtain a rescission, if the movables which he has received, are not worth more than the one-half of the value of the real estate.
But he who has given movable property in exchange for immovable estate, can not obtain a rescission of the contract, even in case the things given by him were worth twice as much as the immovable estate. [Amended by Acts 1871, No. 87]
Art. 2666. The rescission on account of lesion beyond moiety, may take place on a contract of exchange, if a balance has been paid in money or immovable [in movable] property, and if the balance paid exceeds by more than one-half the total value of the immovable property given in exchange by the person to whom the balance has been paid; in that case it is only the person who has paid such balance who may demand the rescission of the contract on account of lesion.
Art. 2667. All the other provisions relative to the contract of sale apply to the contract of exchange.
And in this last contract each of the parties is individually considered both as vendor and vendee.
|< Previous | Next >|