SHAIRA MICAH B.

PACAS
2nd Yr. Arellano

Activity 1:
Nature of a Contract of Sale

Instructions:
Read each question very carefully and write your answers in the space provided. Answer the
questions clearly and concisely. A mere "Yes" or "No" answer without any corresponding
explanation or discussion will not be given any credit.

Questions:
1. What is an Obligation?
- According to Article 1156 of the Civil Code of the Philippines, obligation is
a juridical necessity to give, to do or not to do. This definition specifically
pertains to civil obligation in difference to natural obligation.
2. What is a Contract?
- According to Article 1305 of the Civil Code of the Philippines, A contract is an
agreement through meeting of the minds between two persons whereby one binds
himself, with respect to the other, to give something or to render some service
3. What is a Contract of Sale?
- According to Article 1458 of the Civil Code of the Philippines, by the contract of
sale one of the parties obligates himself to transfer the ownership and to deliver a
determinate thing, and the other to pay therefor a price certain in money or its
equivalent.
4. What are the obligations in a Contract of Sale?
- Generally, the seller's primary obligations are to transfer ownership of the goods
and deliver the goods. A seller may agree with the buyer to perform other
obligations. For instance, a seller may agree to package or label the goods in a
certain way or service the goods for a specific period of time.