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L, the owner of a rare diamond necklace, signs a written sale with M for ₱8,000,000. The document is labeled “Sale of Diamond Necklace” and signed by both parties, but the necklace remains with L and is not delivered to M. M pays the full price. A month later, L sells the same necklace to N for ₱9,000,000 and delivers it to N, who purchases in good faith without knowledge of the prior sale. (a) Identify whether the contract between L and M is a real contract or a consensual contract and justify, naming the controlling doctrinal rule. (b) Distinguish the rule governing perfection and delivery for sales of movables and apply it to the facts to determine who owns the necklace. (c) If L later sells the necklace to O and delivers it to O, what rights does M have against L and against O, and why?