12 Questions
Which characteristic of a contract of sale means that the sale is perfected by mere consent?
Consensual
What is the key feature of a bilateral contract of sale?
Bilateral
Which characteristic ensures that the thing sold is considered the equivalent of the price paid in a contract of sale?
Commutative
What does it mean for a contract of sale to be considered 'principal'?
Principal
In a contract of sale, what does the term 'onerous' indicate?
The thing sold is conveyed in consideration of the purchase price
What happens if a vendee fails to pay the price after executing a contract of sale?
Vendee defaults, and vendor may exercise legal remedies
In a contract of sale, why is the delivery of the thing bought or payment of the price not necessary for the protection of the contract?
To avoid nullity of the sale due to lack of consideration.
What is the key difference between a consensual and a formal contract of sale?
Perfection by mere consent vs. execution of a document.
Why is the contract of sale considered commutative?
Due to the belief that both parties will benefit equally.
What distinguishes a bilateral contract of sale from a unilateral one?
Both parties have obligations vs. only one party has obligations.
Why is it important for a contract of sale to be onerous?
For the transfer of ownership to be valid.
What does it mean for a contract of sale to be considered principal?
'Principal' means it is the main contract that stands alone.
Learn about the key characteristics of a contract of sale, including how it is perfected by mere consent and the importance of meeting of the minds on the subject matter, price, and terms of payment. Explore details on protection of the contract and considerations for nullifying a sale.
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