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Article 1458 of the New Civil Code of the Philippines provides that,

By a contract of sale one of the contracting parties obligates


himself to transfer ownership and to deliver a determinate thing
thereof, and the other to pay a price certain in money or its
equivalent. A contract of sale may be absolute or conditional.

Article 1463 of the New Civil Code of the Philippines provides that,
The sole owner of a thing may sell an undivided interest therein.
Article 1465 of the New Civil Code of the Philippines provides that,
A thing subject to a resolutory condition may be an object of the
contract of sale.

Article 1459 of the New Civil Code of the Philippines provides that,
A thing must be licit and the vendor must have a right to transfer
ownership at the time it is delivered.

Article 1469 of the New Civil Code of the Philippines provides that,
In order for a price to be considered certain it is sufficient that it
be so in reference with another thing certain, or that the
determination thereof be left to the judgment of special person or
persons. xxx.

Article 1460 of the New Civil Code of the Philippines provides that,
A thing is determinate if it is particularly designated or physically
segregated from all others of the same class. The requisite that a
thing be determinate is satisfied when at the time the contract is
entered into, the thing is capable of being made determinate
without the necessity of a new or further agreement between the
parties.

Article 1470 of the New Civil Code of the Philippines provides that,
Gross inadequacy of the price does not affect the contract of sale,
except as it may indicate a defect in the consent, or the parties
really intended a donation or some other act or contract.
Article 1471 of the New Civil Code of the Philippines 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.

Article 1461 of the New Civil Code of the Philippines provides that,
Things having a potential existence may be an object of a
contract of sale. The efficacy of the sale of a mere hope or
expectancy is subject to a condition which may or may not
happen. The sale of a vain hope or expectancy is void.

Article 1473 of the New Civil Code of the Philippines provides that,
The fixing of the price can never be left to the discretion of one of
the contracting parties. However, if the price fixed by the other
party is accepted by the other, the sale is perfect.

Article 1462 of the New Civil Code of the Philippines provides that,
The goods which form the subject of a contract of sale may be
either existing goods, owned and possessed by the seller, or
future goods to be manufactured, raised or acquired after the
perfection of the contract of sale. xxx. There may be a contract of
sale of goods, whose acquisition by the seller depends upon the
contingency which may or may not happen.

Article 1475 of the New Civil Code of the Philippines provides that,
A contract of sale is perfect at the moment there is a meeting of
the minds upon the thing which is the object of the contract and
the price.