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    Rei Speratae and Emptio Spei?: IV. Formation and Perfection of The Contract of Sale

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    Kate Schu
    This document discusses the formation and perfection of contracts of sale. It addresses requirements for the object and price of the sale, as well as acceptance and consideration. A contract is perfected upon agreement of the offer and acceptance between parties. Perfection transfers ownership of the sold object to the buyer. While payment is not required for perfection, failure to pay the stipulated price can void the contract. The document also covers rules for auction sales, earnest money, and expropriation.

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    Rei Speratae and Emptio Spei?: IV. Formation and Perfection of The Contract of Sale

    Uploaded by

    Kate Schu
    32 views1 page
    This document discusses the formation and perfection of contracts of sale. It addresses requirements for the object and price of the sale, as well as acceptance and consideration. A contract is perfected upon agreement of the offer and acceptance between parties. Perfection transfers ownership of the sold object to the buyer. While payment is not required for perfection, failure to pay the stipulated price can void the contract. The document also covers rules for auction sales, earnest money, and expropriation.

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    This document discusses the formation and perfection of contracts of sale. It addresses requirements for the object and price of the sale, as well as acceptance and consideration. A contract is perfected upon agreement of the offer and acceptance between parties. Perfection transfers ownership of the sold object to the buyer. While payment is not required for perfection, failure to pay the stipulated price can void the contract. The document also covers rules for auction sales, earnest money, and expropriation.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    32 views1 page

    Rei Speratae and Emptio Spei?: IV. Formation and Perfection of The Contract of Sale

    Uploaded by

    Kate Schu
    This document discusses the formation and perfection of contracts of sale. It addresses requirements for the object and price of the sale, as well as acceptance and consideration. A contract is perfected upon agreement of the offer and acceptance between parties. Perfection transfers ownership of the sold object to the buyer. While payment is not required for perfection, failure to pay the stipulated price can void the contract. The document also covers rules for auction sales, earnest money, and expropriation.

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    © All Rights Reserved
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    of 1

    IV. Formation and perfection of the contract of sale 28.

    28. What are the general requirements with respect to the offer
    1. What are the general requirements in order that a thing may and acceptance?
    be the object of a contract of sale?
    2. When is a thing determinate or determinable? What is the
    consequence if the thing is not determinate/determinable?
    3. When is a thing illicit, outside the commerce of men, or 29. Is payment of the purchase price or delivery of the thing
    impossible? May such thing be the object of a sale? What is necessary for the perfection of the contract?
    the consequence of such sale? What are examples of things
    that are illicit, outside the commerce of men, or impossible?
    4. Can future things not yet in existence be the object of a
    contract of sale? 30. What is the consequence of the perfection of the contract of
    5. Can there be a sale of a hope? Is that valid or void? sale?
    6. What is the difference between emptio rei
    speratae and emptio spei?
    7. Can an owner sell an undivided interest in the thing? What
    results from such a sale? 31. Does the perfection of the contract transfer ownership of the
    8. What are the rules on the sale of an undivided share of a thing sold?
    specific mass of fungible goods?
    9. Can there be a sale of a thing that is the object of a litigation?
    10. Can there be a sale of a thing subject to a resolutory
    condition? 32. Is a written agreement required for the perfection of the
    11. When must the vendor have the right to transfer ownership? contract?
    Must that right exist at the time of the perfection of the
    contract? Why or why not?
    12. What are the general requirements with respect to the
    purchase price? 33. Must the parties agree on the manner of payment? Under
    13. What is the status of a contract when there is no cause or what circumstances?
    consideration?
    14. If the cause is not stated in the contract, is that contract
    necessarily void?
    15. Is failure to pay consideration equivalent to lack of 34. What is the effect of the failure to pay the stipulated price on
    consideration? What is the difference? the contract? Will the contract become void?
    16. What is the effect when the purchase is stated in the contract
    as paid but is not actually paid?
    17. Is it necessary that the purchase price be just (i.e., equivalent
    to the fair market value of the thing purchased)? 35. What is earnest money? Does payment of earnest money
    18. When is the price considered certain? What is the status of prove perfection of the contract? Is earnest money the same
    the contract when the price cannot be determined? as option money? What are the differences?
    19. Can the fixing of the price be left to one of the contracting
    parties? What is the effect if the fixing of the price is left to
    one of the contracting parties?
    20. Can the fixing of the price be left to a third party? What is 36. What are the rules governing auction sales? When is a sale
    the effect if the third party is unable or unwilling to fix the by auction perfected?
    price, or acted in bad faith?
    21. Will gross inadequacy of the price affect a contract of sale?
    Under what circumstances may gross inadequacy of the
    price affect a contract of sale? What is the status of the 37. In an auction sale, may the bidder withdraw his bid? May the
    contract if there is a gross inadequacy of the price? auctioneer withdraw the goods from the auction sale? May
    22. When is a contract simulated? What is the status of a contract the seller bid in the auction sale of his property?
    that is simulated?
    23. When is the price simulated? What is the status of a contract
    where the price is simulated?
    24. When is the price false? What is the status of a contract 38. What is expropriation? What laws govern
    where the price stated is false? expropriation?
    25. What is meant when we say that the price is pecuniary?

    26. What are the stages of a contract?

    27. When is a contract of sale perfected?

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