Page 370 - Important Provisions of The New Civil Code

Article 1477. The ownership of the thing sold

shall be transferred to the vendee upon the

actual or constructive delivery thereof. (n)

Article 1478. The parties may stipulate that

ownership in the thing shall not pass to the

purchaser until he has fully paid the price. (n)

Article 1479. A promise to buy and sell a

determinate thing for a price certain is

reciprocally demandable.

An accepted unilateral promise to buy or to sell

a determinate thing for a price certain is

binding upon the promissor if the promise is

supported by a consideration distinct from the

price. (1451a)

Article 1482. Whenever earnest money is given

in a contract of sale, it shall be considered as

part of the price and as proof of the perfection

of the contract. (1454a)