Article 1475

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

A sale is perfected when the parties agree on the thing (subject matter) and the price. Once perfected, neither party can back out unilaterally — even before delivery.

Official text — RA 386

The contract of sale is perfected at the moment there is a meeting of minds upon the thing which is the object of the contract and upon the price.

From that moment, the parties may reciprocally demand performance, subject to the provisions of the law governing the form of contracts. (1450a)

Source: lawphil.net (RA 386 as amended)

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