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	GR No. 199648 2015-01-28	FIRST OPTIMA REALTY CORPORATION v. SECURITRON SECURITY SERVICES DEL CASTILLO, J.
In the present case, the parties never got past the negotiation stage. Nothing shows that the parties had agreed on any final arrangement containing the essential elements of a contract of sale, namely, (1) consent or the meeting of the minds of the parties; (2) object or subject matter of the contract; and (3) price or consideration of the sale.[34]
	GR No. 171359 2012-07-18	BENJAMIN A. UMIPIG v. PEOPLE VILLARAMA, JR., J.
Article 1482 of the Civil Code states that: "Whenever earnest money is given in a contract of sale, it shall be considered as part of the price and as proof of the perfection of the contract." The earnest money forms part of the consideration only if the sale is consummated upon full payment of the purchase price. Hence, there must first be a perfected contract of sale before we can speak of earnest money.[63]