The Purchase Agreement: the Sale Instrument
A purchase agreement is written with the sale law of the Civil Code. Under Article 477, the seller must transfer to the buyer ownership of the property, the documents associated with it, and deliver the goods; the buyer must pay the agreed price and take delivery. Where the price is not directly indicated, the parties may agree on the means of its determination. The rule is fixed in the document itself.
These six articles — concept, defect-free delivery, cure of defects, damages, conditionality and form — together create the frame in which an acquisition deal is written: what is transferred, at what price, what happens on defect, and when the contract takes effect.