CHAPTER 1.

NATURE AND FORM OF CONTRACT

Article 1458. Contract of sale means that there is a seller which has the obligation to transfer ownership
and deliver a determinate thing and a buyer to pay the price certain in money or its equivalent.

Article 1459. The thing must be legal in its nature and in the eyes of law and the vendor must have a
right to transfer the thing to the buyer at the time of delivery.

Article 1460. The object of sale must be determinate or identified by its individuality.

Article 1461. In contract of sale the subject matter need not be existing at the time the contract is
entered into.

Article 1462. An object of sale maybe an existing good or a future good.

Article 1463.

Article 1464.

Article 1465. Things subject to a resolutory condition or uncertain event upon the happening of which
the obligation (or right) subject to it is extinguished.

Article 1466.

Article 1467. If the goods is especially-made for an order of a customer, not for the general market, but
only for such an order is called contract for a piece of work.
Article 1468. It is called a barter if the value of thing given as part of the consideration

exceeds the amount of the money or its equivalent, otherwise, it is a sale.

Article 1469.

Article 1470. Gross inadequacy of the price is acceptable in contract of sale unless there is defect in
consent or the intention is a for of other contract like a donation.