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Consensual
Principal
Bilateral
Onerous
Commutative
Nominate
Conditional Sale
Right as Object of Sale
Rights can be a valid object of sale as long as itss transmissible. Rights are
transmissible by:
A. Provision of Law
B. By stipulation of the parties
C. When they are personal in character
WHEN PRICE IS CERTAIN
1. When the parties have fixed it
2. When its certain with reference to another thing certain.
3. When the determination of the price is left to the judgment of a specified
person or persons
In the case of price of Securities, Grains and Liquid
1. When the price fixed is that which the thing sold would have on definite
day.
2. The price fixed is that which the thing sold would have in a particular
exchange or market
3. An amount is fixed above or below the price in such day or in such
exchange or market.
Gross Inadequacy of Price
Gross inadequacy of price does not affect the contract of sale, except as it
may indicate a defect in the consent, or that parties really intended a
donation or some other act or contract
If the Price is simulated
Simulated Price means feigned or pretended price. Article 1471 provides that
if the price is simulated, the sale is void, but the act may be shown to have
been in reality a donation or some other act or contract.
Can the fixing of prices be left to the discretion of one of the contracting
parties?
No. Because it is a violation of Art. 1308 of the Civil Code. For it is an
express provision of law that the validity of the contract cannot be left to the
will of one of the contracting parties.