A contract of sale is a legal document where a person who is selling a good, agrees to deliver it in exchange for the money he is requesting and a buyer is obliged to pay it. This legal document is the best way to make a sale to prevent fraud when acquiring what is being purchased, knowing the parts of the sale contract and its basic components. It is particularly used for the sale of properties, vehicles, etc.
Regarding its concept, the Federal Civil Code establishes its definition in its article 2248; There will be a sale and purchase when one of the contracting parties is obliged to transfer ownership of a thing or a right, and the other in turn is obliged to pay a certain price for them and in money. However, a simple concept is when you exchange ownership of an asset for money.
What is not your property.
There are impediments to selling and buying, when this happens it is called legal incapacity, which refers to a state of limitation of the ability to exercise rights, in this case, certain people have limitations to buy or sell certain goods, which in case If it happens, the contract will be null and void.
Some of the reasons why this act cannot be performed are:
The obligation of the seller is to deliver the goods that are declared in this contract, as well as to guarantee that the good is in order and in case of eviction, that is, if there was any debt on the part of the seller before the purchase had been made. , the seller will have the duty to indemnify you.
On the other hand, the obligations of the buyer are those established in the contract and of course the payment of the price as agreed.
Failure by either party, as in most contracts, gives them the right to demand the termination or performance of the contract. The execution is in the sense of forcing the delivery of the good or the payment and the termination implies that the money or the thing is returned, depending on the party that defaults.
The purchase-sale contract does not require any special formality for its validity, but only when it falls on a property. That is, the sale of real estate will not produce effects against third parties until after it is registered with the Public Property Registry.
In tax terms, sales contracts may be subject to:
Naturally, this depends on the type of property in question, with various applicable rates, exemptions and deductions.
At Defend Abogados® it will be a pleasure to support you with advice and the realization of a sales contract, as well as any lawsuit that is required due to the lack of breach of this.
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