Law 3 – Lecture Notes

Price
- The sum stipulated as equivalent to the thing sold.
- If the price cannot be determined the sale shall be inefficacious
- Gross inadequacy of price does not affect a contract of sale
- The price must be certain

FORMS OF CONTRACT
A. In writing or
B. By word of mouth or
C. Partly in writing or partly by word of mouth
D. May be inferred from the conduct of the parties.

Ownership of the thing sold shall be transferred upon actual or

constructive delivery.

Sale by sample – the parties contract solely with reference to the sample.
Sale by description – the parties contract solely with reference to description.
Sale by sample and description – the goods must correspond to both sample and
description