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1. Statement 1: The vendor is bound to transfer the ownership of and deliver as well as warrant
the thing which is the object of the sale.
Statement 2: Payment of price is essential to delivery of the thing sold.
a. Both statements are true
b. Actual delivery
d. Actual delivery of the thing or payment of the price is not required for the perfection of
the sale.
6. The following items pertain to either emptio rei sperati or emptio speo.
I. The sale of a future thing.
II. The sale of hope or expectancy.
III. The sale of a present thing.
IV. The thing sold must come into existence.
Based on the above information, which of the following is correct?
a. Items I and II pertain to emptio rei sperati.
b. Items II and III pertain to emptio spei.
c. Items II and III pertain to emptio rei sperati.
d. Items III and IV pertain to emptio spei.
7. Stefan orally offered to sell a certain diamond ring to Bonnie for P10,000.00. Bonnie accepted
the offer and to prove that he was in earnest, he gave Stefan P100,000.00. The parties agreed that
the delivery of the ring and the payment of the price would be made 30 days later. On due date:
a. Stefan cannot enforce payment because the contract was not reduced to writing.
b. Stefan cannot enforce payment because there was no contract of sale yet.
c. Stefan may collect from Bonnie P49,000.00.
d. Stefan may collect from Bonnie P50,000.00.
8. On January 1, Santa orally sold to Boy a specific ring for P450,000.00. The parties agreed that
Santa shall deliver the ring to Boy on January 5, while Boy shall pay the price on January 7
a. There is no perfected contract because the sale was made orally.
b. The contract is perfected on January 7, when the price is paid, since both parties would
by then have performed their obligations in the contract.
c. The contract is perfected on January 1, when the parties had a meeting of minds
on the object and the price.
d. The contract is perfected on January 5, when the ring is delivered by Santa to Boy.
9. On July 18, 2014, Julie sold to Mae through a private instrument 20 sack of wheat stored in
the only warehouse of Julie. On July 28, 2014, Julie delivered the keys to the warehouse to Mae.
The delivery made by Julie to Mae is known as:
c. option money
b. deposits
13. Samson and Belle entered into a contract whereby S transferred to B a specific car for the
price f P200,000, while B gave to S P90,000 in cash and a diamond ring worth P110,000. The
heading of the written contract signed by the parties reads Contract of Sale
a. The contract is valid contract of barter since the value of the property given is more
than the monetary consideration. The intention of the parties are
immaterial.
consideration.
sale
15. Damon bought a piece of land from Elena for a lump sum of P120,000. Aside from
mentioning the boundaries in the contract which is required in the sale of real estate, the contract
also states that the piece of land consist of 1,000 square meters. Before delivery, Elena
discovered that the piece of land actually contains 1,200 square meters.
a. Damon must deliver all the 1,200 square meters; Elena must pay P120,000 plus an
additional amount for the excess of 200 square meters.
b. Damon must deliver all the 1,200 square meters; Elena has to pay only P120,000
c. Damon is required to deliver only 1,000 square meters; Elena must pay the contract
price
of P120,000.
d. Neither party is required to perform the obligation because of mistake.
16. Three of the following are the requisite in order that an unpaid seller may exercise his right of
stoppage of transitu. Which one is not?
a. The seller has not parted with the possession of the goods.
b. The seller is unpaid.
c. The goods are in transit.
c. A warehouse receipt which states that the goods are to be delivered to bearer but
the bearer indorsed it to a specified person.
d. A bill of lading which states that the goods are to be delivered to a specified person.
21. D gives his ring worth P25,000.00 to E in consideration of Cs giving of P10,000.00 and a
bracelet worth P15,000.00 to D. Based on the foregoing facts, which of the following statement
is incorrect?
a. The transaction between D and C is a sale if they intended it to be a contract of sale.
b. The transaction between D and C is a barter if they intended it to be a contract of
barter.
c. The transaction is barter regardless of the intention of the parties because the
bracelet is of more value than P10,000.00.
d. The transaction is barter is the intention of the parties cannot be determined.
22. Sonia sold her lot to Bella reserving his right to repurchase the same within 5 years from the
date of the execution of their agreement. The sale together with the right to repurchase was
registered with the Register of Deeds. Two years after the execution of the sale, Bella sold the
same to Edward who was not aware that Sonia reserved his right to repurchase the lot.
a. The sale by Sonia to Bella is subject to a suspensive condition..
b. The sale by Sonia to Bella is subject to a resolutory condition.
c. The sale by Sonia to Bella is subject to a condition which is neither suspensive or
resolutory.
d. The sale by Sonia to Bella is absolute without any condition.
23. The following statements are presented to you:
Statement 1: A bearer document of title if it is specially indorsed can be negotiated thereafter
only by the indorsement completed by delivery.
Statement 2: A bearer negotiable instrument if it is specially indorsed can be negotiated
thereafter only by indorsement completed by delivery.
In your evaluation of the foregoing statements:
a. Both statements are true
c. Only I is true
d. Only II is true
24. Brothers Angelo, Billy, Chris and Donovan are co-owners of an agricultural lot which they
inherited from their parents. Angelo sold his undivided share in the property to Diana. Either
Billy, Chris and Donovan may purchase Angelos share in the property from Diana by virtue of
their right of:
a. legal redemption
c. conventional redemption
b. pre-emption
d. consolidation
25. San Pedro Corporation, which maintains a professional basketball tea, entered into a contract
with Armstong Rubber Company for the latter to provide a pair of rubber shoes to the formers
two imported basketball players, Lebron James and Tim Duncan. Armstrong Rubber Company
was instructed to make a pair for either or both players in case the company did not manufacture
shoes of their size. No pair was, however, immediately available for both the players. Lebron
James,, who is 65 tall and wear size 12 rubber shoes, was given a pair the following day from
the 300 pairs that Armstrong was in the process of manufacturing for its customers at the time
the orders were received. Tim Duncan, who is 7 tall and wears size 18 shoes, was provided
three days later, with a pait that was specially made for him since Amrstrong does not make
shoes of his size. What kind of contract were entered into for the shoes provided to the two
basketball players?
a. The contract for the pair of shoes provided to Lebron James is a contract for a piece of
work, while that for Tim Duncan is a contract of sale.
b. The contract for the pair of shoes provided to Lebron James is a contract of sale,
while that for Tim Duncan is a contract for piece of work.
c. Both contracts are contracts of sale.
d. Both contracts are contracts for a piece of work.