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554.

A gift to take effect at the death of the donor is governed by the provisions relating to legacies.

Section III.
Sale.[1]

Subsection I.
General Provisions.

555.

A sale is where one party promises to transfer a property right to the other party, and the other party promises to pay him a price for it.

556.

A promise to buy or sell made by one party has the effect of a sale, as soon as the other party expresses his intention to complete the sale.

If no time is fixed for such expression of intention, the promissor may fix a reasonable time and notify the other party to give a definite answer within that time whether he will complete the sale or not. If

  1. ↑ Emtio venditio in Roman Law.
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