University of San Carlos Ranin, Manilac Melissa S. Assignment 01 B.S.

MA III

CONTRACT OF SALE

CONTRACT TO SELL

Ownership passes to the buyer The title to the goods does not upon delivery. pass to the buyer until some future time and oftentimes upon payment of the price. The risk of loss or damage to The risk is borne by the seller the goods upon delivery is on based on the same principle the buyer, under the rule of res that the thing perishes with the perit domino. owner. The non-payment of the price is The payment in full of the price a resolutory condition. is a positive suspensive condition. If the price is not paid, the obligations of the seller to deliver and to transfer ownership never existed.

MMSR