Text of the provision
Art. 1469. In order that the price may be considered certain, it shall be sufficient that it be so with reference to another thing certain, or that the determination thereof be left to the judgment of a special person or persons. Should such person or persons be unable or unwilling to fix it, the contract shall be inefficacious, unless the parties subsequently agree upon the price. If the third person or persons acted in bad faith or by mistake, the courts may fix the price. Where such third person or persons are prevented from fixing the price or terms by fault of the seller or the buyer, the party not in fault may have such remedies against the party in fault as are allowed the seller or the buyer, as the case may be.
(1447a)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
The price is certain if fixed by reference to another certain thing, or left to a third person's determination. If that person cannot or will not fix it, the sale fails unless the parties later agree; if he acts in bad faith or by mistake, the courts may fix the price.
Related provisions
- Article 1468 — Sale vs. Barter.
- Article 1470 — Gross Inadequacy of Price.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.