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    Essential Requisites of A Contract of Sale

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    Maverick Jann Esteban
    The document outlines the essential requisites of a valid contract of sale under Philippine law. There must be: 1) consent of the parties, 2) an object or thing being sold that is licit, determinate, and the seller has the right to transfer ownership, and 3) a price or consideration that is certain. Additional requirements addressed include the parties, execution and post-performance obligations.

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    Essential Requisites of A Contract of Sale

    Uploaded by

    Maverick Jann Esteban
    73 views17 pages
    The document outlines the essential requisites of a valid contract of sale under Philippine law. There must be: 1) consent of the parties, 2) an object or thing being sold that is licit, determinate, and the seller has the right to transfer ownership, and 3) a price or consideration that is certain. Additional requirements addressed include the parties, execution and post-performance obligations.

    Original Description:

    Requisites for the Contract of Sales

    Original Title

    Sales Requisites

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    The document outlines the essential requisites of a valid contract of sale under Philippine law. There must be: 1) consent of the parties, 2) an object or thing being sold that is licit, determinate, and the seller has the right to transfer ownership, and 3) a price or consideration that is certain. Additional requirements addressed include the parties, execution and post-performance obligations.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    73 views17 pages

    Essential Requisites of A Contract of Sale

    Uploaded by

    Maverick Jann Esteban
    The document outlines the essential requisites of a valid contract of sale under Philippine law. There must be: 1) consent of the parties, 2) an object or thing being sold that is licit, determinate, and the seller has the right to transfer ownership, and 3) a price or consideration that is certain. Additional requirements addressed include the parties, execution and post-performance obligations.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 17

    Essential Requisites of a

    Contract of Sale
    Essence

    Consent
    Object or Thing
    Price or Consideration
    Consent

     Perfection (Article 1475)


     Specific Performance (2nd paragraph)
     Statute of Frauds (Article 1403)
     Personal: Not less than P500.00
     Real
     Not to be performed within a year
     Enumeration exclusive
     Executory contracts (perfected)
    Promise

     Bilateralpromise (Article 1479)


     Unilateral promise (Article 1480)
    Option
     Earnest money (Article 1482)
    Post-Perfect

     Injury to or benefit from the thing sold (Article 1480)


     Diligence of a good father of a family (Article 1163)
     Fruits (Article 1164)
     Specific performance with damages (Article 1165)
     Extinguished (Article 1262)
     Fungible things
    Perfection to Consummation

     Delivery (Article 1477)


     Stipulation
    Full payment of price (Article 1478)
     Sale of Goods by Description or by Sample
    (Article 1481)
    Object/Thing

    Licit(Article 1459)
    Right to transfer ownership
    (Article 1459)
    Determinate (Article 1460)
    Licit

    Illicit per se (of its nature)


    Decayed food
    Illicit per accidens
    Sale of an animal suffering from
    contagious disease
    Determinate

     Particularly designated
    Capable of being made
    determinate
    Potential existence (Emptio rei
    speratae)
    Emptio spei
    Existing and Future Goods

     Existing goods
     Future goods
    To be manufactures, raised or acquired
    after perfection
     Contingent goods
    Undivided interest

     Co-owner (Article 1463)


     Fungible goods (Article 1464)
     Undivided share of a specific mass
     Though parties intended definite number
     Though mass is undetermined
    Resolutory things

    Resolutorycondition
    Vendor a retro/Vendee a
    retro
    Price or consideration

    Certain (Arts. 1469 and 1472)


    Who fixes?
    Parties
    Special persons
    Court
    Adequacy

     Barter
     Gross inadequacy
    Ong v. Ong
     Simulated
    Installments

     Exact fulfillment
     Cancellation of sale
     Foreclosure
    No further action
    Versus

    Agency to Sell
    Contract for a Piece of Work
    Vendor

    Expenses for execution and


    registration
    Expropration

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