10 Questions
What is the definition of sale in a contractual context?
Sale refers to an agreement to transfer ownership or permanent, undisturbed possession of property.
What are the three essentials of a contract of sale?
The three essentials of a contract of sale are consent (consensus ad idem), a thing sold (merx), and a price (pretium).
What is the purpose of a contract of sale?
The purpose of a contract of sale is for one party to make a property available to another in exchange for the payment of a price.
What is the general concept of a contract of sale?
A contract of sale generally refers to a mutual agreement between parties where one person agrees to deliver the free possession of a thing to another in exchange for a price in money.
What are the two types of property that can be involved in a contract of sale?
The two types of property that can be involved in a contract of sale are movable property and immovable property.
Which one of the following is NOT an essential element of a contract of sale?
A transfer of ownership or permanent, undisturbed possession of property
In a contract of sale, what does the term 'merx' refer to?
The thing being sold
What is the main purpose of a contract of sale?
To transfer ownership of property
What is the definition of sale in a contractual context?
An agreement to transfer ownership or permanent, undisturbed possession of property
What is the role of consent in a contract of sale?
To create a mutual agreement between parties
Study Notes
Contract of Sale
- A contract of sale refers to an agreement to transfer ownership or permanent, undisturbed possession of property.
- It involves an agreement where one party makes a property available to another in return for a price.
- It is a mutual contract for the transfer of possession of a thing in exchange for a price.
- A contract of sale has three essentials:
- Consent (consensus ad idem)
- A thing sold (merx)
- A price (pretium)
This quiz covers the topic of "Contract of Sale" and focuses on the drafting of a contract of sale for both movable and immovable properties. Test your knowledge and understanding of the definition and elements of a contract of sale in a contractual context.
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