CHAPTER 5.  OF THE PRICE OF THE CONTRACT OF SALE

Art. 2464.  Price, essential elements

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.