ART. 1458. By the contract of sale one of ART. 1464. In the case of fungible goods, ART. 1469.
ART. 1469. In order that the price may be
the contracting parties obligates himself to there may be a sale of an undivided share considered certain, it shall be sufficient transfer the ownership of and to deliver a of a specific mass, though the seller that it be so with reference to another determinate thing, and the other to pay purports to sell and the buyer to buy a thing certain, or that the determination therefor a price certain in money or its definite number, weight or measure of the thereof be left to the judgment of a equivalent. A contract of sale may be goods in the mass, and though the specified person or persons. Should such absolute or conditional. number, weight or measure of the goods person or persons be unable or unwilling in the mass is undetermined. By such a to fix it, the contract shall be inefficacious, ART. 1459. The thing must be licit and the sale the buyer becomes owner in common unless the parties subsequently agree vendor must have a right to transfer the of such a share of the mass as the number, upon the price. If the third person or ownership thereof at the time it is weight or measure bought bears to the persons acted in bad faith or by mistake, delivered. (n) number, weight or measure of the mass. If the courts may fix the price. Where such the mass contains less than the number, third person or persons are prevented ART. 1460. A thing is determinate when it weight or measure bought, the buyer from fixing the price or terms by fault of is particularly designated or physically becomes the owner of the whole mass and the seller or the buyer, the party not in segregated from all others of the same the seller is bound to make good the fault may have such remedies against the class. The requisite that a thing be deficiency from goods of the same kind party in fault as are allowed the seller or determinate is satisfied if at the time the and quality, unless a contrary intent the buyer, as the case may be. (1447a) contract is entered into, the thing is appears. (n) capable of being made determinate ART. 1470. Gross inadequacy of price does without the necessity of a new or further ART. 1466. In construing a contract not affect a contract of sale, except as it agreement between the parties. (n) containing provisions characteristic of both may indicate a defect in the consent, or the contract of sale and of the contract of that the parties really intended a donation ART. 1461. Things having a potential agency to sell, the essential clauses of the or some other act or contract. (n) existence may be the object of the whole instrument shall be considered. (n) contract of sale. The efficacy of the sale of ART. 1471. If the price is simulated, the a mere hope or expectancy is deemed ART. 1467. A contract for the delivery at a sale is void, but the act may be shown to subject to the condition that the thing will certain price of an article which the vendor have been in reality a donation, or some come into existence. The sale of a vain in the ordinary course of his business other act or contract. (n) hope or expectancy is void. (n) manufactures or procures for the general market, whether the same is on hand at ART. 1472. The price of securities, grain, ART. 1462. The goods which form the liquids, and other things shall also be the time or not, is a contract of sale, but if subject of a contract of sale may be either considered certain, when the price fixed is the goods are to be manufactured existing goods, owned or possessed by the that which the thing sold would have on a specially for the customer and upon his seller, or goods to be manufactured, definite day, or in a particular exchange or special order, and not for the general raised, or acquired by the seller after the market, or when an amount is fixed above market, it is a contract for a piece of work. perfection of the contract of sale, in this or below the price on such day, or in such (n) Title called “future goods.” There may be a exchange or market, provided said amount contract of sale of goods, whose ART. 1468. If the consideration of the be certain. (1448) acquisition by the seller depends upon a contract consists partly in money, and contingency which may or may not partly in another thing, the transaction ART. 1473. The fixing of the price can happen. (n) shall be characterized by the manifest never be left to the discretion of one of intention of the parties. If such intention the contracting parties. However, if the ART. 1463. The sole owner of a thing may does not clearly appear, it shall be price fixed by one of the parties is sell an undivided interest therein. (n) considered a barter if the value of the accepted by the other, the sale is perfected. (1449a) ART. 1465. Things subject to a resolutory thing given as a part of the consideration condition may be the object of the exceeds the amount of the money or its ART. 1477. The ownership of the thing contract of sale. (n) equivalent; otherwise, it is a sale. (1446a) sold shall be transferred to the vendee upon the actual or constructive delivery thereof. (n) ART. 1474. Where the price cannot be ART. 1478. The parties may stipulate that determined in accordance with the ownership in the thing shall not pass to the preceding articles, or in any other manner, purchaser until he has fully paid the price. the contract is inefficacious. However, if (n) the thing or any part thereof has been delivered to and appropriated by the buyer, he must pay a reasonable price therefor. What is a reasonable price is a question of fact dependent on the circumstances of each particular case. (n)
ART. 1475. The contract of sale is
perfected at the moment there is a meeting of minds upon the thing which is the object of the contract and upon the price. From that moment, the parties may reciprocally demand performance, subject to the provisions of the law governing the form of contracts. (1450a)
ART. 1476. In the case of a sale by auction:
(1) Where goods are put up for sale by
auction in lots, each lot is the subject of a separate contract of sale.
(2) A sale by auction is perfected when the
auctioneer announces its perfection by the fall of the hammer, or in other customary manner. Until such announcement is made, any bidder may retract his bid; and the auctioneer may withdraw the goods from the sale unless the auction has been announced to be without reserve.
(3) A right to bid may be reserved
expressly by or on behalf of the seller, unless otherwise provided by law or by stipulation.
(4) Where notice has not been given that a
sale by auction is subject to a right to bid on behalf of the seller, it shall not be lawful for the seller to bid himself or to employ or induce any person to bid at such sale on his behalf or for the auctioneer, to employ or induce any person to bid at such sale on behalf of the seller or knowingly to take any bid from the seller or any person employed by him. Any sale contravening this rule may be treated as fraudulent by the buyer. (n)