Book Third: Gift/Donation

Article 499

Art. 499 - Exchange is a contract whereby each of the parties undertakes to give one thing in order to receive another.

Article 500

Art. 500 - Exchange is perfected by the consent of the parties. However, when it has as its object real estate or real estate rights, the provisions of Article 393 and those of the applicable land legislation shall apply.

Article 501

Art. 501 - When the things exchanged are of different value, it is permitted to the parties to compensate the difference by means of monetary allowances (Sum of money owed by one exchanging party to the other parties in order to compensate for the inequality of lots or goods exchanged) or by other objects.

Article 502

Art. 502 - The expenses and genuine costs of the contract are shared by right between the co-contracting parties unless stipulated otherwise by the parties.

Article 503

Art. 503 - The rules of sale apply insofar as the nature of this contract permits, particularly with regard to the warranty for eviction or hidden defects, and as regards the nullity of the transaction relating to another person's property.