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Characteristics of Sale: (PNB-TOC) Sales v.

Barter

1. Principal Sale Barter


it can stand on its own and does not depend on another contract for its validity Nature
2. Nominate A thing is given in exchange of a price One of the parties binds himself to give
Given a particular name certain in money or its equivalent one thing in consideration of the others
Nature and consequences are governed by a set of rules in CC. promise to give another thing.
3. Bilateral and Reciprocal Applicable Law
It imposes obligations on both parties to the relationship, and whereby the Law on Sales Law on barter or exchange
obligation or promise of each party is the cause or consideration for the obligation Applicability of Statute of Frauds
or promise of the other. The rules on the statute of fraud which <<- Does not apply
Reciprocal obligations are those which arise from the same cause, and in which each apply to the sale of real property and
personal property bought at P500 or
party is a debtor and a creditor of the other, such that the obligation of one is
more, apply
dependent upon the obligation of the other. They are to be performed
If the consideration is party in money and partly in another thing
simultaneously such that the performance of one is conditioned upon the
1. The transaction is characterized b the manifest intention of the parties
simultaneous fulfi llment of the other. Legal effects: 2. If there is no manifest intention
a. Power to rescind is implied a. Barter if the value of the thing is more valuable than money.
b. Neither party incurs delay if the other party does not comply, or is not ready to b. Sale if the value of the thing is equal or less than the amount of money
comply, or is not ready to comply in a proper manner what is incumbent upon given.
him.
c. From the moment one of the parties fulfills his obligation, the default by other
begins without the need of prior deman. Sales v. Donation
4. Title not mode
Sale Donation
Sale is merely title that creates the obligation on the part of the seller to transfer
Onerous Contract An act of liberality whereby a person
ownership and deliver possession, but on its own sale is not a mode that transfers
disposes gratuitously of a thing or right in
ownership favor of another person, who accepts it. It
Mode is the legal means by which dominion or ownership is created, transferred or is a gratuitous contract.
destroyed
Title only constitutes the legal basis by which to affect dominion or ownership Perfected by mere consent Must comply with formalities mandated
5. Onerous by law for its validity.
imposes a valuable consideration as a prestation, which ideally is a price certain in
money or its equivalent
6. Commutative Sale v. Contract for a piece of work
Sale is a commutative contract, as distinguished from an aleatory contract, because
By the contract for a piece-of-work, the contractor binds himself to execute a piece of
a thing of value is exchanged for equal value, i.e., ideally the value of the subject
work for the employer, in consi deration of a certain price or compensation; the contractor
matter is equivalent to the price paid.
may either employ only his labor or skill, or also furnish the material.
No requirement that the price be equal to the exact value of the subject matter; all
that is required is for the seller to believe that what was received was of the Sale Contract for a piece of work
commutative value of what he gave. Risk of loss
7. Consensual Borne by the buyer Borne by the worker or contractor
Perfected by mere consent, at the moment there is a meeting of the minds upon the
thing which is the object of the contract and upon the price