Valendez, Mariane Gianelle L.

LAW ON SALES
September 12, 2020

Essential Elements of Contract of Sale:

1. Consent or meeting of the minds
2. Determinate subject matter
3. Price certain in money or its equivalent

Stages of Contract of Sale

1. Negotiation or preparation
2. Perfection
3. Performance or Consummation

Obligations of the Vendor

1. Transfer ownership
2. Deliver the thing sold
3. Warrant against eviction and against hidden defects
4. Take care of the thing, pending delivery, with proper diligence
5. Pay for the expenses of the deed of sale, unless there is stipulation to the contrary