Onerous is a characteristics of a contract of sale wherein one party performs his obligation with the expectation that the other party will perform his obligation in return.

Negotiation and Perfection are the stages of formation of contract of sales.

Option contract is principal contract and also the contract of sale itself.

An option contract is a separate contract and must have a separate consideration, independent from the purchase price.

Perfection is a stage in a contract of sale when both parties agree to the subject matter and cause of the contract.

Earnest money agreement is a separate contract and the consideration agreed therein is independent from the purchase price of the subject matter.

In sales at auction, the sale is perfected when there is no counter-offer to the last person who offered their price.

Sale being consensual, must be in writing.

Sale being consensual, must be perfected by consent as to price and subject matter.

Sale to be performed after one year must be in written form, otherwise unenforceable.

Consummation stage is when parties both comply with their obligation.

Delivery of the thing must be ALWAYS actual in order for ownership to transfer.

A thing is determinate when it is particularly designated or physically segregated from all others of the same class. The object of sale should be determinate.

Sale of vain hope/expectancy is valid.

Sale of mere hope/expectancy is void.

Under a contract of sale, it is enough that the vendor has the right to transfer the ownership of the thing at the time it is delivered.

Under a contract of sale, It is not required that the vendor has the right to transfer ownership at the time of the perfection of the contract.

Future goods may be a subject of a contract of sale.

The effect of the sale by the sole owner of a thing of his undivided interest to the buyer is to make the buyer the co-owner of the thing sold.

By the contract of sale, the contractor binds himself to execute a piece of work for the employer in consideration of a certain price or compensation. The contractor may either employ his labor or skill, or also

furnish the material.

By the contract of barter or exchange, one of the parties binds himself to give one thing in consideration of the other’s promise to give another thing.

In case the thing given in exchange consists partly in money and partly in another thing, the discretion as to treat the transaction as either barter or sale depends on the primary intention of the parties involved.

Sale = Dacion en Pago = Payment by Cession

In dacion en pago, the owner cedes or assigns his property to his creditors to be sold in payment of his debt.

In payment by cession, there is at least one creditor.

In sale, the cause or consideration of the owner of property (seller) is the price, while in payment by cession, the total or partial extinguishment of the owner’s

debts.

A sale, which is in nature has been categorized under transactions in the Statute of Frauds, must follow a specific form to make the contract valid as to parties involve.

The fixing of the price may be left to the discretion of one of the contracting parties.

Ana and Ben simulated the price of the land owned by the former. This tactic was done by both parties to avoid the burden of donor's tax since the primary intention of Ana is to actually donate the land to Ben. The contract of sale is still valid.