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What is Understanding the Contract of Sale about?

This document summarizes key aspects of the law on sales in the Philippines. It defines a contract of sale as one where the seller obligates to transfer ownership of a determinate thing in exchange for a price certain. A sale can be absolute or conditional. The essential elements are consent, a determinate subject matter, and a certain price. Ownership generally passes to the buyer upon delivery. The thing sold must be licit and the seller must have the right to transfer ownership.

Author

Jerry Pinongpong

Language

EN