SALES

○By the contract of sale, one of the

Nature, contracting parties obligates himself to
forms and transfer the ownership of and to deliver a
determinate thing, and the other to pay,
requisites therefore, a price certain in money or its
equivalent.

○A contract of sale may be absolute or

conditional. (Art.1458).
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○It is a contract whereby one of

CONTRACT the parties (called the seller or
OF SALE vendor) obligates himself to
deliver something to the other
(called the buyer or vendee) who,
on his part, binds himself to pay
therefore a sum of money or its
equivalent (known as the price).
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1. Consensual – the
Characteristics contract is perfected by mere
of a contract of
sale: consent;
2. Bilateral – the seller and
the buyer are bound by
obligations dependent upon each
other;
3. Onerous – it imposes a
valuable consideration;
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4. Commutative – the thing

Characteristics of value is exchanged for equal
of a contract of
sale: value
5. Nominate – it has a
special name (Civil Code);
6. Principal – it can stand on
its own and does not depend
on other contract for validity
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Elements 1. Essential Elements

◦(those without which there can be
of the
no valid sale)
Contract
of Sale: a. CONSENT-meeting of
the offer and the
acceptance upon the
thing and the cause which
are to constitute the
agreement;
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Elements b. OBJECT -Determinate

of the Subject Matter, the cause why
Contract the parties enter into contract
of Sale: c. Price Certain in Money or its
equivalent – price is the cost
at which something is
obtained for something else.
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Elements 2. Natural Elements

of the ◦(inherent in the contract, deemed to
Contract exist in the absence of any contrary
provision)
of Sale:
a. warranty against eviction
(deprivation of the property
bought)
b. warranty against hidden defects
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Elements 3. Accidental Elements

of the ○(those which may be present
Contract or absent in the stipulation)
of Sale: a. Place or time of payment

b. the presence of conditions

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1. Negotiation
STAGES OF A
CONTRACT – period -> when the
OF SALE parties indicate interest
to the time the contract is
perfected;
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STAGES OF A 2. Perfection – upon the

CONTRACT concurrence of the
OF SALE essential elements of the
sale -> meeting of mind as
to the object and the price
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STAGES OF A 3. Consummation – when

CONTRACT the parties perform their
OF SALE undertakings under the
contract of sale,
culminating in the
extinguishment thereof
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○The contract of Sale is perfected at the

Nature, moment there is a meeting of minds upon
forms and the thing which is the object of the contract
and upon the price.
requisites
○From that moment, the parties may
reciprocally demand performance, subject
to the provisions of law governing the
contract. (1475)
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○The ownership of the thing sold shall be

Nature, transferred to the vendee upon the actual
forms and or constructive delivery thereof. (Art.1477)

requisites
FORMALITIES:
○Subject to the provisions of the Statute of
Frauds and any other applicable statute, a
contract of sale may be made in writing, or
by word of mouth, or may be inferred from
the conduct of the parties. (Art. 1483)
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