1.

What are the characteristics of the contract of sale?

The following are the characteristics of a contract of sale:
a) Consensual;
b) Bilateral;
c) Onerous;
d) Commutative;
e) Nominate; and
f) Principal.

2. Why is the contract of sale an onerous contract?
The contract of sale is an onerous contract because the thing sold is
conveyed in consideration of the price and vice versa.

3. Why is the contract of sale a consensual contract?
The contract of sale is consensual because it is perfected by mere
consent of the parties without any further act.

4. Why is the contract of sale a bilateral reciprocal contract?
The contract of sale is a bilateral reciprocal contract because the
contracting parties are bound to fulfill correlative obligations toward each
other. The seller, to deliver and transfer ownership of the thing sold and the
buyer, to pay the price thereof.

5. Why is the contract of sale a commutative contract?
The contract of sale is a commutative contract because the thing sold
is considered the equivalent of the price paid and vice versa.

6. Define natural elements of a contract of sale.
Natural elements of sale are those which are deemed to exist in
certain contracts, in the absence of any contrary stipulations like warranty
against eviction or hidden defects.

7. What is an accidental element in a contract of sale?
Accidental elements of sale are those which may be present or absent
depending on the stipulations of the parties like conditions, interest, penalty,
time and place of payment.

8. What are the requisites of the thing that constitute the object of sale?
The following are the requisites of the thing that constitute the object of sale:
a) Determinate;
b) Licit and lawful; and
c) Not be impossible.

9. Distinguish Rei Speratae from Emptio Spei.
The following are the distinction between Rei Speratae from Emptio Spei:
 a) Rei Speratae is the sale of a thing having potential existence while
Emptio Spei is the sale of mere hope or expectancy;
b) In Rei Speratae, the uncertainty is with regard to the quantity or
quality of the thing, while in Emptio Spei, the uncertainty is with
regard to the existence of the thing itself;
c) In Rei Speratae, the contract deals with future thing, while in Emptio
Spei, the contract relates to a thing which exists or is present which is
the hope or expectancy; and
d) In Rei Speratae, the sale is valid only if the expected thing will exist,
while in Emptio Spei, the sale is valid even though the expected thing
does not come into existence as long as the hope itself validly existed
(unless it is a vain hope or expectancy).

10. What is Emptio Rei Speratae?
Emptio Rei Speratae is the sale of a thing, not yet in existence subject
to the condition that the thing will exist and on failure of the condition, the
contract becomes ineffective and hence, the buyer has no obligation to pay
the price.

11. Is there a distinction in a contract of sale and a contract to sell?
Yes. There is a difference between a contract of sale and a contract to
sell. They are the following:
In a contract of sale, ownership is transferred to the buyer upon
delivery of the object to him, while in a contract to sell, ownership is retained
by the seller until the purchase price is fully paid;
In a contract of sale, nonpayment is a negative resolutory condition,
while in a contract to sell, full payment is a positive suspensive condition; and
In a contract of sale, the vender has lost and cannot recover ownership
until the contract is resolved or rescinded, while in a contract to sell, the title
remains in the vendor and when he seeks to eject the vendee for
noncompliance, he is merely enforcing the contract to sell and not resolving
or rescinding it.