1. What are the characteristics of the contract of sale?

The following are the characteristics of a contract of sale:

a) Consensual;
b) Bilateral;
c) Onerous;
d) Commutative;
e) Nominate; and
f) Principal.

2. Why is the contract of sale an onerous contract?

The contract of sale is an onerous contract because the thing sold is conveyed in
consideration of the price and vice versa.

3. Why is the contract of sale a consensual contract?

The contract of sale is consensual because it is perfected by mere consent of the
parties without any further act.

4. Why is the contract of sale a bilateral reciprocal contract?

The contract of sale is a bilateral reciprocal contract because the contracting
parties are bound to fulfill correlative obligations toward each other. The seller, to deliver
and transfer ownership of the thing sold and the buyer, to pay the price thereof.

5. Why is the contract of sale a commutative contract?

The contract of sale is a commutative contract because the thing sold is
considered the equivalent of the price paid and vice versa.

6. Define natural elements of a contract of sale.

Natural elements of sale are those which are deemed to exist in certain contracts,
in the absence of any contrary stipulations like warranty against eviction or hidden
defects.

7. What is an accidental element in a contract of sale?

Accidental elements of sale are those which may be present or absent depending
on the stipulations of the parties like conditions, interest, penalty, time and place of
payment.

8. What are the requisites of the thing that constitute the object of sale?
The following are the requisites of the thing that constitute the object of sale:
a) Determinate;
b) Licit and lawful; and
c) Not be impossible.

9. Distinguish Rei Speratae from Emptio Spei.

The following are the distinction between Rei Speratae from Emptio Spei:
a) Rei Speratae is the sale of a thing having potential existence while Emptio Spei is the
sale of mere hope or expectancy;
b) In Rei Speratae, the uncertainty is with regard to the quantity or quality of the thing,
while in Emptio Spei, the uncertainty is with regard to the existence of the thing itself;
c) In Rei Speratae, the contract deals with future thing, while in Emptio Spei, the contract
relates to a thing which exists or is present which is the hope or expectancy; and
d) In Rei Speratae, the sale is valid only if the expected thing will exist, while in Emptio
Spei, the sale is valid even though the expected thing does not come into existence as
long as the hope itself validly existed (unless it is a vain hope or expectancy).

10. What is Emptio Rei Speratae?

Emptio Rei Speratae is the sale of a thing, not yet in existence subject to the
condition that the thing will exist and on failure of the condition, the contract becomes
ineffective and hence, the buyer has no obligation to pay the price.

11. Is there a distinction in a contract of sale and a contract to sell?

Yes. There is a difference between a contract of sale and a contract to sell. They
are the following:
In a contract of sale, ownership is transferred to the buyer upon delivery of the
object to him, while in a contract to sell, ownership is retained by the seller until the
purchase price is fully paid;
In a contract of sale, nonpayment is a negative resolutory condition, while in a
contract to sell, full payment is a positive suspensive condition; and
In a contract of sale, the vender has lost and cannot recover ownership until the
contract is resolved or rescinded, while in a contract to sell, the title remains in the
vendor and when he seeks to eject the vendee for noncompliance, he is merely enforcing
the contract to sell and not resolving or rescinding it.