Section 497.- The right of redemption may be exercised only by :

                (1) The original seller or his heirs, or

                (2) The transferee of the right, or

                (3) Any person expressly allowed to redeem by the contract.

 

Section 498.- The right of redemption may be exercised only against :

                (1) The original buyer or his heirs, or

                (2) The transferee of the property or of a right on the property, provided that, in case of movable property, he knew at the time of transfer that such property was subject to a right of redemption.

 

Section 499.- If no price of redemption is fixed, the property may be redeemed by reimbursing the price of the sale.

If the price of redemption or the price of the sale, at the time of redemption, is higher than the real price of the sale more than fifteen per cent per year, it shall be redeemed at the real price including fifteen per cent per year of profit.

 

Section 500.-  Costs of the sale borne by the buyer must be reimbursed together with the price.

Costs of redemption are borne by the person who redeems.

 

 Section 501.- The property must be returned in the condition in which it is at the time of redemption, provided that if the property has been destroyed or deteriorated through the fault of the buyer he must pay compensation therefor.

 

Section 502.- The person, who redeems the property, recovers it free from any rights created by the original buyer or his heirs or transferees before redemption.

If a hire of property held subject to a right of redemption is registered by the competent official, it shall be valid for not more than one year of its remaining duration, provided tht it is not made for the purpose of injuring the seller.

 

PART II

SALE BY SAMPLE; SALE BY DESCRIPTION; SALE ON APPROVAL

 

Section 503.- In a sale by sample, the seller is bound to deliver property or properties corresponding to the sample.

In a sale by description, the seller is bound to deliver property corresponding to the description.

 

Section 504.- No action for liability on account of non-correspondence to the sample or description can be entered later than one year after delivery.

 

Section 505.- A sale on approval is a sale made on condition that the buyer shall have the opportunity to examine the property before acceptance.