Article 1482

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

Earnest money (arras): when a buyer gives earnest money as part of the price, it is considered proof of the contract's perfection and forms part of the purchase price.

Key point

Earnest money is not just a deposit — it forms part of the price and signals a binding contract of sale.

Official text — RA 386

Whenever earnest money is given in a contract of sale, it shall be considered as part of the price and as proof of the perfection of the contract. (1454a)

Source: lawphil.net (RA 386 as amended)

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