Understanding Contract Elements, Seller & Buyer Obligations
Classified in Law & Jurisprudence
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Contract Elements
Real Elements
The real elements of a contract are the thing and the price.
The Thing Under Contract
This refers to the good, right, or merchandise being exchanged. The thing must be possible, according to the Code of Commerce:
- Things to resell furniture
- Sale of samples: The seller must deliver the thing with the same qualities as the sample, and the buyer may refuse to receive what was contracted.
- Sale to the test: The buyer purchases the thing, reserving their final decision based on the results of testing the effectiveness of the goods.
- Confirmation unless-Sale: The contract is agreed upon between the buyer and a trade representative.
Price
The price is the amount the buyer is obligated to pay the seller in exchange for the thing.... Continue reading "Understanding Contract Elements, Seller & Buyer Obligations" »