one of the contracting parties obligates himself to transfer the ownershipof and to deliver a determinate thing; andb.
the other to pay therefor a price certain in money or its equivalent
Essential elements— those without which, there can be no valid sale(c
onsent, object, price
Natural elements— inherent and are deemed to exist even in the absenceof contrary provision, save those in the contrary (
warranties againsteviction and hidden defects
Accidental elements —dependent on the parties’ stipulation (
e.g.conditions, interest, penalty, time or place of payment)
Negotiation—covers the period from the time the prospective partiesindicate interest in the contract until it is perfected
Perfection—meeting of the minds as to the object of contract and uponthe price
Consummation—object is delivered and the price is paid
Consensual—it is perfected at the moment there is a meeting of the mindsupon the thing, which is the object of the contract and the upon the price.xxx [1
one of the contracting parties obligates himself to transfer theownership of and to deliver a determinate thing and the other topay therefor a price certain in money or its equivalent .ii.
as a consequence
power rescind is implied in case one of the obligors shouldnot comply with what is incumbent upon him 
neither party incurs in delay if the other does not complyor is not ready to comply in proper manner what isincumbent upon him 
Onerous—valuable consideration is necessary for the contract to be valid(price)
By the contract of sale oneof the contracting parties obligates himself totransfer the ownership and to deliver adeterminate thing, and the other to pay therefora price certain in money or its equivalent.
The contract of sale isperfected at the moment there is a meeting ofminds upon the thing which is the object of thecontract and upon the price.From that moment, the parties may reciprocallydemand performance, subject to the provisionsof the law governing the form of contracts.