Sales Flashcards
What is a sale?
Contract whereby a person transfers ownership of a thing to another for a price in money.”
The thing, the price, and
the consent of the parties are requirements for the perfection of a sale.
Formal requirements for sales of immovables must be in writing and must be recorded.
When does acceptance form?
Acceptance forms a contract of sale of a movable if there is agreement on the thing and the price, even if the
acceptance contains terms additional to or different from those contained in the offer.
Additional or different terms are
regarded as proposals for modification and must be accepted by the offeror in order to become a part of the contract.
Special Rule Between Merchants
Between merchants, the additional terms become part of the contract unless:
(i) The terms materially alter the offer;
(ii) The offer expressly limits acceptance to the terms of the offer; or
(iii) The offeror objects within a reasonable time.
What is conditional acceptance?
No contract of sale is formed on the parties’ communications if the acceptance is made conditional on the offeror’s
acceptance of the additional or different terms.
What about K formed through conduct?
Sale of movables may be established by the conduct of both parties that recognizes the existence of a
contract even though the communications exchanged by them do not suffice to form a contract.
Contract consists of those terms on which the communications of the parties agree, together with any applicable
provisions of the suppletive law
What is capable of being sold?
All things, corporeal or incorporeal, susceptible of ownership may be sold unless prohibited by law. [La. Civ. Code
Ann. art. 2448]
Succession rights may not be sold before the death of the decedent. ]
Sale of a thing of another does not convey ownership. The buyer may be entitled to damages if he did not know
that the thing belonged to another.
What is the sale of a future thing?
Sale of thing not yet in existence.
The coming of a thing acts as a suspensive condition and the buyer does not assume the risk.
What is a hope?
A hope may be sold, but it is uncertain. Here, the buyer assumes the risk that the thing will not materialize.
