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CHARACTERISTICS OF CONTRACT OF SALE:
1. Consensual – contract is by mere consent. There is meeting of minds.
2. Bilateral Reciprocal – both parties are bound by obligations.
3. Onerous – Valuable considerations must be given in order to acquire rights.
4. Commutative – Values exchanged are almost equivalent to each other; not aleatory.
5. Principal – No need for it to depend on the existence of another contract; not accessory.
6. Nominate – the law specifically designates it a name, that is, Contract of Sale
7. It is a title and not a mode of acquiring ownership. It merely gives rise to an obligation to transfer ownership.