1.

three things you have learned;

In the first video, I learned what is a contract of sale, its characteristics, and the difference
between other similar arrangements. Contract of sale happens when the seller binds itself to
deliver and transfer ownership of a determinate thing while the buyer should pay a price certain
in money or its equivalent. The characteristics of sale are the following: consensual because it is
perfected by mere consent or meeting of the minds of the parties, bilateral because it imposes an
obligation to the parties, onerous because it is for valuable consideration, commutative because
the thing is equivalent to the value of money or price, nominate because the law gives it a
particular name, principal because it can stand alone, and title because it is a legal basis by which
the ownership is affected. Contract of sale is different from donation, barter, dacion en pago,
contract for piece-of-work, agency to sell/buy and lease.
In the second video, I learned what are the essential elements of a contract of sale. The following
are the essential elements: consent is the capacity to sell and buy; the object is a concern in rights
or things: the right must be transmissible and the thing must be actual, possible, licit,
determinate/determinable; and the price is the sum stipulated as the equivalent of the thing sold:
the price must be real, certain, in form of money or equivalent and the manner of payment is
agreed upon.
In the third video, I learned the formality and how the contract of sale is formed. The contract of
sale may be oral or written. The formation of the contract of sale is similar to the contract under
obligation and contract. Preparation is the time the parties indicate interest and negotiate and end
the moment the parties agree. Perfection happens the moment the mind of the parties meets upon
the thing and price. Consummation happens when there is the delivery of the thing and the
payment of the price.
1. two things you still want to know more;
The things I want to know more about the contract of sale in the future things because I’m
confused about the differences between executory contract, emptio rei speratae, and emptio spei.
I want to know more about how the price in the contract of sale is determined.
1. one thing you want to ask.
I want to ask is that what are some of the cases related to the contract of sale so that I can know
how can I apply the provisions in the contract of sale in real life.