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What is contract of sale philippine law


As defined in Article 1458 of the Civil Code, a contract of sale is a contract whereby one of the contracting 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. It may be absolute or conditional.

What is a contract of sale Philippines?

A Contract of Sale is an agreement between a buyer and a seller whereby the seller agrees to give or deliver something to the buyer for a certain price which the buyer agrees to pay. In contracts like this, when the buyer pays and the seller delivers, the transfer of ownership is also done at the same time.

What is contract of sale in contract law?

(1) A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. (2) A contract of sale may be absolute or conditional.

What is contract of sale in simple words?

A contract of sale, sales contract, sales order, or contract for sale is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).

Is a contract of sale a real contract Philippines?

Q: What Is a Contract to Sell in the Philippines? A: In a nutshell, A Contract to Sell is a legal document that outlines an agreement between a seller and a buyer, with the seller promising to sell the property to the buyer and the buyer promising to buy the property.




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[PDF] Civil Code of The Philippines - Official Gazette

Civil Code of The Philippines - Official Gazette www officialgazette gov ph/downloads/1949/06jun/19490618-RA-0386-JPL pdf A minor who according to law may contract marriage may also execute his or apply to the Court of First Instance for an order directing the sale of the

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