Text of the provision
Art. 1479. A promise to buy and sell a determinate thing for a price certain is reciprocally demandable. An accepted unilateral promise to buy or to sell a determinate thing for a price certain is binding upon the promisor if the promise is supported by a consideration distinct from the price.
(1451a)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full. The three sources consulted do not read identically here; the text above is the reading carried by two of the three, including the Official Gazette.
What this article means
Two different things in one article. A mutual promise to buy and to sell a determinate thing for a price certain is reciprocally demandable — either side can enforce it. But an accepted unilateral promise to buy or to sell binds the promisor only if it is supported by a consideration distinct from the price. That separate consideration is the option money, and without it an option can be withdrawn before acceptance.
Related provisions
- Article 1387 — When an Alienation Is Presumed to Defraud Creditors.
- Article 1491 — Persons Who Cannot Buy.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.