Louisiana Civil Code

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CHAPTER 4 - HOW THE CONTRACT OF SALE IS TO BE PERFECTED

Art. 2456. Ownership is transferred between the parties as soon as there is agreement on the thing and the price is fixed, even though the thing sold is not yet delivered nor the price paid. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2457. When the object of a sale is a thing that must be individualized from a mass of things of the same kind, ownership is transferred when the thing is thus individualized according to the intention of the parties. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2458. When things are sold by weight, tale, or measure, ownership is transferred between the parties when the seller, with the buyer's consent, weighs, counts or measures the things.

When things, such as goods or produce, are sold in a lump, ownership is transferred between the parties upon their consent, even though the things are not yet weighed, counted, or measured. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2459. [Reserved]

Art. 2460. When the buyer has reserved the view or trial of the thing, ownership is not transferred from the seller to the buyer until the latter gives his approval of the thing. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2461. The sale of a thing includes all accessories intended for its use in accordance with the law of property. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2462. [Reserved]

Art. 2463. The expenses of the act and other expenses incidental to the sale must be borne by the buyer. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

 

CHAPTER 5 - OF THE PRICE OF THE CONTRACT OF SALE

Art. 2464. The price must be fixed by the parties in a sum either certain or determinable through a method agreed by them. There is no sale unless the parties intended that a price be paid.

The price must not be out of all proportion with the value of the thing sold. Thus, the sale of a plantation for a dollar is not a sale, though it may be a donation in disguise. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2465. The price may be left to the determination of a third person. If the parties fail to agree on or to appoint such a person, or if the one appointed is unable or unwilling to make a determination, the price may be determined by the court. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Art. 2466. When the thing sold is a movable of the kind that the seller habitually sells and the parties said nothing about the price, or left it to be agreed later and they fail to agree, the price is a reasonable price at the time and place of delivery. If there is an exchange or market for such things, the quotations or price lists of the place of delivery or, in their absence, those of the nearest market, are a basis for the determination of a reasonable price.

Nevertheless, if the parties intend not to be bound unless a price be agreed on, there is no contract without such an agreement. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

 

CHAPTER 6 - AT WHOSE RISK THE THING IS, AFTER THE SALE IS COMPLETED

Art. 2467. The risk of loss of the thing sold owing to a fortuitous event is transferred from the seller to the buyer at the time of delivery.

That risk is so transferred even when the seller has delivered a nonconforming thing, unless the buyer acts in the manner required to dissolve the contract. [Acts 1993, No. 841, §1, eff. Jan. 1, 1995]

Arts. 2468-2473. [Reserved]