Requirements for a Valid Contract of Purchase and Sale

A valid contract of purchase and sale can only come into existence if there is an agreement regarding the thing (merx) ______

The merx must be definite or ______

Nearly anything may be sold; movable or immovable; corporeal or incorporeal and even future things or things still to be manufactured, provided that it can form part of one’s ______

No valid contract of purchase and sale is possible with regard to things that already belong to the ______

It is not a requirement that the seller must be the owner of the thing ______

The mere formation of a contract of purchase and sale does not imply the passing of ______

An essential requirement for a contract of sale is that a price (in money) for the thing sold must be ______ upon.

The price must also be definite or ______.

The parties must agree to a global amount, stipulate a price per unit, or agree on a method by which the purchase price can be ______.

They may agree that a specified third person will determine the price, but not that one or both of them will ______ so.

It is a requirement that the parties must agree on a price, but it frequently happens that things are sold without the parties reaching agreement on the price ______.

The price may consist partly of money and partly of some other commodity, but the agreement will only be considered to be a contract of purchase and sale if the money element is ______.

In order to constitute a valid contract of purchase and sale, a contract of sale must comply with all the requirements that need to be met in order for a contract to be valid. The ______ must intend to buy, and the seller must intend to sell.

The ______ must intend to buy, and the seller must intend to sell. They must make their intentions known to each other and must agree about the thing sold and the purchase price.

If the parties concluded an apparent contract of purchase and sale, but in reality, it is another type of contract, the court will give effect to their real ______, irrespective of what they call the transaction.

It frequently happens that parties to a contract of purchase and sale try to disguise the true nature of their transaction, for example to avoid the payment of ______.

Mary and Toivo agree that Mary will “buy” Toivo’s car, but that Mary does not need to pay him. This scenario raises questions about the true ______ of the parties.

For the valid formation of a contract of purchase and sale, there must be consensus between the seller and the ______.