Page 12 - OBLICON Activity-Case Booklet
P. 12
SOLUTIONS TO EXERCISES
APPLICATION OF LAW
Case 3.0: Requisites of Contract of Sale
Legal Opinion:
The consent refers to the meeting of minds as when Mr. John
Smith (the seller) offered Mr. Danilo Santos to sell the 10 boxes of
Fundador Brandy at a price of P10,000 pesos per box and when Mr. Danilo
Santos agreed to buy the said 10 boxes of Fundador Brandy at the price of
P10,000 pesos per box.
The object or subject matter refers to the 10 boxes of
Fundador Brandy at the price of P10,000 pesos per box. As to the seller,
the cause is the price of P10,000 pesos per box. As to the buyer, the
cause is the 10 boxes of Fundador Brandy. Consequently, as long as the
three elements of a contract exist (consent, object, cause), the contract
is generally valid and binding.
