1770. Where the price is payable in cash and is sufficient to reimburse all the creditors of the seller designated in the statement, the buyer is under no obligation to give notice of the sale to the prior and hypothecary creditors of the seller or to observe the other formalities prescribed for the distribution of the sale price. He is, however, bound to pay all the creditors of the seller, except those who have renounced their right thereto in writing, out of the sale price.