Section First: Obligation to Pay the Price

Article 466

Article 466 - The buyer is bound to pay the price at the date and in the manner established by the contract; in the absence of a contrary stipulation, the sale, as stated in article 487, is presumed to be made for cash, and the buyer must pay at the moment of delivery itself. The costs of payment are at the charge of the buyer.

Article 467

Art. 467 – When a deadline has been granted for the payment of the price, the term commences from the conclusion of the contract, unless the parties have agreed on a different date.

Article 468

Art. 468 - If it has been stipulated that the sale would be dissolved due to non-payment of the price, the contract is dissolved by operation of law by the mere fact of non-payment within the agreed deadline.

Article 469

Article 469 - If the sale was made without a term, the seller may, in case of non-payment, assert ownership of the movable effects which are its object, so long as they are in the possession of the buyer, provided that the assertion of ownership is made within fifteen days of delivery and that the effects are found in the same state in which that delivery took place. The assertion of ownership, in case of bankruptcy, is governed by the special provisions relating to bankruptcy.

Article 470

Art. 470 - The buyer who is disturbed, or who is in imminent and serious danger of being disturbed, by virtue of a title prior to the sale, has the right to withhold the price, until the seller has ceased the disturbance. However, the seller may compel the buyer to pay by providing a guarantee or other sufficient security for the restitution of the price and the legitimate costs of the contract in the event of eviction. When the disturbance only affects a part of the thing, the buyer may only withhold a proportionate part of the price, and the guarantee is limited to the portion of the thing in danger of eviction. The buyer may not exercise this right of retention when it has been stipulated that they will pay notwithstanding any disturbance, or when they were aware of the danger of eviction at the time of the sale.

Article 471

Art. 471 - The provisions of the preceding article shall apply in the case where the buyer discovers a latent defect in the thing sold.

Article 472

Article 472 - The buyer is bound to take delivery of the thing sold in the place and at the date fixed by the contract. In the absence of a contrary stipulation, he is bound to remove it immediately except for the time materially necessary to effect the removal. If he does not present himself to receive it, or if he presents himself without at the same time offering payment of the price, when the sale is made for cash, the general principles relating to notice of default to the creditor are applied. When the things sold must be delivered in several installments, the failure to remove the objects forming the first delivery produces the same consequences as the failure to remove the whole. All of this, save for contrary agreements of the parties.