Legal Question in Business Law in Philippines
I am Chit from Quezon City my question is: is a verbal commitment to purchase a piece of merchandise, like local microphone, without a need of consideration of something from parties involved such as a downpayment considered binding? Can I, as customer, withdraw within a week of acceptance of the oral agreement if I tell the seller that I do not need such merchandise anymore?
Asked on 5/22/13, 7:59 pm
1 Answer from Attorneys
VOLTAIRE T. DUANO
VOLTAIRE T. DUANO LAW OFFICE
A contract of sale is a consensual.This means that it is perfected by mere consent.
Answered on 5/23/13, 6:14 am
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