Engineering Board Exam Reviewer · ECE · medium
Earnest money given in a contract of sale is:
- A gift to the seller
- A penalty for breach
- Considered part of the price and proof of the perfection of the contract
- An option money that is not part of the price
Answer
C. Considered part of the price and proof of the perfection of the contract
Solution
Article 1482. Option money is distinct and is the consideration for an option.
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