Page 367 - Important Provisions of The New Civil Code

Article 1470. Gross inadequacy of price does

not affect a contract of sale, except as it may

indicate a defect in the consent, or that the

parties really intended a donation or some

other act or contract. (n)

Article 1475. The contract of sale is perfected

at the moment there is a meeting of minds

upon the thing which is the object of the

contract and upon the price.

From that moment, the parties may reciprocally

demand performance, subject to the provisions

of the law governing the form of contracts.

(1450a)