Text of the provision
Art. 1462. The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or goods to be manufactured, raised, or acquired by the seller after the perfection of the contract of sale, in this Title called "future goods." There may be a contract of sale of goods, whose acquisition by the seller depends upon a contingency which may or may not happen.
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Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
Goods sold may be existing goods the seller owns/possesses, or future goods to be manufactured, raised, or acquired later. A sale may even depend on a contingency that may or may not happen.
Related provisions
- Article 1461 — Sale of Things With Potential Existence.
- Article 1463 — Sale of an Undivided Interest.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.