Distinguish between emptio res speratae and emptio spei.

ANS: The sale of a thing having a potential existence (emptio res speratae) and the sale of a
hope (emptio Spei), both of which are recognized in Art. 1461 of the NCC, may be distinguished
from each other in the following ways: (1) The first refers to the sale of a thing having a
potential existence,’ whereas the second refers to the sale of a mere hope or expectancy (2) In
the first, the uncertainty is with regard the quantity and quality but not with regard the
existence of the thing in the second, the uncertainty with regard the existence of the thing. (3)
In the first, the contract deals with a future thing; in the second, the contract deals with a
present thing — the hope or expectancy. (4) In the first, the sale is subject to the condition that
the thing should exist. so that if it does not, there is no contract for lack of an essential requisite,
in the second, the sale produces effects even though the thing itself does not come into
existence, since the subject matter is the hope itself.