TITLE VII – OF EXCHANGE
Art. 1. An exchange is a contract by which the contractors give to one another one thing for another whatever it be, except money, for in that case it would be a sale.
Art. 2. An exchange takes place by the bare consent of the parties only.
Art. 3. If one of the exchangers after having received the thing given to him in exchange, learns that the other exchanger is not the proprietor of that thing, he cannot be compelled to deliver that which he had promised to give in exchange, he is only bound to return the thing which he has received.
Art. 4. The exchanger who is evicted by a judgement of the thing he has received in exchange, has his choice either to sue for damages or for the thing he gave in exchange.
Art. 5. The rescission of contract on account of lesion is not allowed in contracts of exchange excepting in the following cases:
Art. 6. The rescission on account of lesion beyond moiety, takes place, when one party gives immoveable property to the other in exchange for moveable property, in that case the person having given the immoveable estate, may obtain a rescission, if the moveables which he has received, are not worth more than the one half of the value of the real estate.
But he who has given moveable property in exchange for immoveable estate, cannot obtain a rescission of the contract, even in case the things given by him were worth twice as much as the immoveable estate.
Art. 7. The rescission on account of lesion beyond moiety, may take place on a contract of exchange, if a balance has been paid in money or in moveable property; and if the balance paid exceeds by one moiety the total value of the immoveable property given in exchange by the person to whom the said balance has been paid: in that case it is only the person who has paid such a balance who may demand the rescission of the contract on account of lesion.
Art. 8. All the other provisions relative to the contract of sale apply to the contract of exchange.
And in that said contract each one of the parties is individually considered in the double sight of vender and vendee.