b. To deliver the immediately since the sale has been perfected c. To deliver the car after the buyer demands delivery d. 7escind the contract for the time of performance not 2&ed 2&ed
BUSINESS LAW QUIZ –Law on Sales –Part I
1. A form of delivery which takes place after the seller of the property continues in possession of said property No longer longer as owner but as a mere mere possessor: possessor: a. Traditio Traditio constitutum possessorium c. Traditio brevi-manu b. Traditio calvis d. Quasi-Traditio
>. A$ and 0 are co-owners of a parcel of land pro-indiviso. pro-indiviso. A sold his share to in an absolute deed of sale !hich is correct a. The deed of sale between between A and is void since it was made made not in favor of a third person b. 0 may e&ercise e&ercise his right of redemption redemption on the interest interest of A sold to c. 0 may redeem redeem only ? of the share share sold by A to d. 0 cannot e&ercise e&ercise the right of redemption redemption since the sale sale was made to a co-owner co-owner
. !hen goods are delivered to the buyer on "sale or return#$ the ownership passes to the buyer: A. %pon delivery of the goods b. %pon the e&piration of the period agreed upon c. %pon acceptable of the the buyer of the sellers o'er d. %pon perfection of the sale
1. /f the same thing was sold to di'erent buyers$ the ownership shall pertain to the one who has taken possession there of in good faith if movables The seller is liable to the buyer for any hidden defect of the thing sold only if was aware thereof a. @irst statement true second is false c. oth are true b. oth are false d. @irst is false$ second is true
(. !hen are delivered to the buyer on approval$ trial or satisfaction$ the ownership passes to the buyer: a. %pon delivery of the things c. %pon conception of the sale b. %pon meetings of minds d. %pon the return of the things to the seller
11. The buyer has the right to the fruits of the things: a. @rom the time the fruits have been delivered b. @rom the time the obligation obligation to deliver the thing bought arises c. @rom the time of perfection of the sale d. @rom the time the thing is about to delivered
). * orally appointed A as his agent to sell the formers land. +n ,anuary ($ 1$ A sold the land to who for with took possession thereof. thereof. /t turned out however$ that on ,anuary ,anuary 1$ 1$ *$ without informing informing A$ had already sold the same land to 0$ who up to now has not taken possession possession of the same land. Neither of the sales was registered. registered. !hose contract shall prevail a. The sale to for he was 2rst 2rst in possession possession in good faith b. The sale to 0 for the land was 2rst sold to him by the owner c. Those sale to for the agent was duly authori3ed to sell the land. d. The sale to 0 because because the sale to was was void$ A was not duly duly authori3ed by *. 4. 5 sold to A in a memorandum of agreement of the sale of his parcel of land. After a week$ 5 sold the same land to in a formal deed deed of sale. %pon buying buying the land$ land$ who was aware aware of the sale to A$ immediately immediately took took possession thereof and registered the sale in his favor. !hen informed of the second sale$ A subse6uently subse6uently registered an adverse claim with the 7egistry of 8eeds. 8eeds. The parcel of land shall belong to: a. A because he has the older title b. because the sale to him was in a formal deed of sale c. because because he 2rst registered the sale in his favor d. because because he was the 2rst possessor possessor of the the land. 9. /n case of redemption$ which of the following will not be paid by the seller to the buyer a. &penses incidental to the sale paid by the buyer b. Necessary e&penses made made on the the thing sold c. The consideration of the sale paid by the buyer d. The interest on the purchase price ;. 8acron en *ago as distinguished from sale: a. The ob
c. There is no pre-e&isting obligation d. The cause is the price
=. 5 sold to his car .There was no 2&ed date for the performance performance of obligation of of 5 as as vendor is: a. To To wait for the buyer buyer to pay the price before before he delivers
their respecti respective ve obligations obligations .The 5
1. 5 sold his cat to for $. . No payment has been made and the sale document does not provide for the date of the delivery .efore the delivery and payment the cat gave birth to a kitten. a. entitled to the kitten which was was born born after the perfection perfection of the sale b. 5 entitled to the fruit as has not yet paid the price c. 5 entitled to the fruit because it was born born before his obligation to deliver the cat d. should pay an additional amount for the kitten to be entitled to it.
1(. 5 delivered his car to by way of a sale with the understanding that on the day following such delivery 5 will name and 2& the price. The said day came and 5 telephoned and stated stated and 2&ed the price at *hp1. /s the sale perfected a. Bes because the price was named and 2&ed on the agreed date b. No the price was left left to the discretion discretion of the seller only c. Bes since there was was already delivery of the thing sold. d. No the price 2&ed by the seller was not accepted by the buyer 1). Three of the following are option money. !hich is the e&ception a. Civen when contract of the sale is perfected b. Civen when there there is no contract contract of sale$ but as a consideration c. Civen to bind the o'eror o'eror in a unilateral promise to buy or sell d. Civen as the consideration distinct from the price 14. /n a sale$ this is actual delivery: a. &ecution &ecution and signing signing of the deed of sale b. Coods sold are placed in the control and possession of the vendee c. 8elivery by the vendor of the keys to the place where where the goods are kept or stored d. The vendee is already in possession of the goods even before the sale. 19. A and entered into a contract of lease with option to buy the car of the former for a term of two years. @or three three months failed to pay the rentals and by reason thereof$ thereof$ A repossessed the car. car. Dence: a. A can collect the unpaid rentals for three months b. A can collect collect the unpaid rentals rentals for the duration of the term of the lease of two years
c. !hen A deprived the possession of the leased car$ he has no further action against the latter for any unpaid rentals d. A shall return the rentals without deductions to by virtue of the rescission of the contract of lease with option to buy 1;. A o'ered in writing to sell his house and lot for *hp 1 to on ,anuary $ 1. re6uested A to give him one month to raise the amount. +n ,anuary 4$ 1 A informed that he has raised the price to *hp 1.4. 0an compel A to accept the payment to *hp 1 for the sale of the house and lot a. Bes because A is already estopped by his written o'er of *hp 1 b. No because the one-month option period has not yet e&pired c. No because there is as yet no perfected sale d. No because the seller has the sole discretion in 2&ing the price with or without the concurrence of the buyer 1=. !hich of the following may not be the ob
. !hen delivery takes place by mere consent or agreement of the parties as when the vendor merely points to the thing sold which shall thereafter be at the disposal of the vendee if the thing sold cannot be transferred to the possession of the vendee upon sale: a. Traditio symbolica b. Traditio brevi manu
c. Traditio longa manu d. Traditio constitutum possessorium
. A placed an order with for one hundred pieces of T-shirts which were then not available but manufactured by and consigned to its sales outlets regularly. The contract between A and is: a. 0ontract piece of work c. 0ontract of sale b. 0ontract of lease of service d. 7enumetory contract 1. A sold a parcel of land to .Thereafter $ A sold the same land to 0 who immediately took possession of the land in good faith ./n this case $ the proper remedy of is: a. Ask for the annulment of the sale of 0 b. @ile on action in court against 0 to recover the land c. /nstitute an action for damages against A for breach of contract d. @ile on action for rescission of the sale to 0 due to the damage su'ered by him . A seller sold to a buyer a piece of
b. may recover the car from 0 because the former was 2rst buyer c. may claim damages from A for breach of contract of sale d. can 2le an action to annul the sale to 0 even if 0 is in good faith in buying the car 4. A contract of sale is unenforceable if it is not in public instrument and it refers to a sale of real property A sale of house through an agent whose authority is oral is void. a. oth statements are true c. 5econd is true$ 2rst is false b. oth are false d. @irst is true$ second is false 9. /n case of double sale$ priority is given to the buyer in good faith$ that is$ whether registrant$ possessor or with the oldest title. a. @irst statement is false$ second is true c. oth are false b. @irst is true$ second is false d. oth are true ;. A sold his own land to who began to possess it. Fater$ 0$ a stranger$ sold the same land to 8 who in good faith registered the sale and thus obtained the title in his name. The owner is: a. 8 is the owner for he was the 2rst to register in good faith b. A remains to be owner because 0 had no authority to sell c. A still the owner because did not register the sale d. is the owner because the owner is his seller and he has taken possession of the land. =. 5 sold his land to . Then 5 became Gs tenant on the land. 5ubse6uently$ 5 sold the same land to 0. Neither sale was registered. !ho should be the owner a. 5 remains to be the owner because neither of the contracts of sale was registered b. 0 is the owner because the possession of the land was not transferred to as buyer thereof c. is the owner since he bought the land from 5 as owner thereof and has possession of the same d. 5 retains the ownership of the land because he still has possession >. A sold his land to . Fater A sold the same land to 0. in turn sold the same land to 8$ who took possession of the land in good faith. 0$ a purchaser in good faith registered the sale in his favor .8ecide: a. is the owner of the land because he was the 2rst buyer b. 0 is the owner of the land having registered the sale in good faith (. A husband and his wife were living together under a con
(. The seller of a thing must have right to transfer the ownership thereof at the time of the meeting of the minds parties: The sale of a mere hope or e&pectancy is deemed sub
a. A may demand the delivery of the entire land with proportionate increase of the price b. A may re. ven in the absence of doubt$ a sale with right of repurchase is presumed to an e6uitable mortgage /n conventional redemption$ it is not necessary that the parties agree upon the period within which redemption may be e&ercised a. oth statements are correct c. oth are incorrect b. @irst is false$ second is true d. @irst is true$ second is incorrect ). A bought pair of shoes from a shoe store and repair shop. /t was later discovered$ however$ that the shoes did not belong to the store but to a customer who had left the same for repair .8id A ac6uire good title to the shoes a. No because it was sold by the store which is not the owner thereof b. No because it is the fault of A in not e&isting diligence in buying the shoes as to its real ownership 0.Bes because it was bought from a store in good faith for value d. Bes because the owner of the shoes was preclude from setting up the want of authority of the store in selling the shoes )1. !arranty against eviction as well as against hidden defect may waived by the vendee provided the vendor in good faith !aiver intencionada the part of the vendee will absolutely e&empt the vendor from liability a. oth statements are false c. @irst is false$ second is true b. oth are true d. @irst is true$ second is false ). /n waiver consent there is no warranty against eviction but the seller is still liable to pay the value of the thing at the time of eviction if it takes place. a. oth statements are correct c. @irst is correct$ second is incorrect b. oth are incorrect d. @irst is incorrect$ second is correct )(.A$ and 0 are co-owners in e6ual shares of one hectare rural land $ the ad
)). /n case eviction takes place the sells is obliged to return to the buyer the price he paid for the thing sold. /n case the thing is lost due to its hidden defect$ the vendor shall to the vendee the value at the time of loss. a. oth statements are true. c. @irst is false$ second is true. b. oth are false. d. @irst is true$ second is false. )4. /n the sale of goods$ if the seller deliver more than the 6uality agreed upon$ the buyer may rescind the 0ontract of sale. The seller shall have the right of legal redemption only if this right has been agreed upon between the sellers and the buyer. a. oth statements are true$ second is false. c. @irst is false$ second is true. b. oth are true. d. @irst is true$ second is false. KLK )9. /f several person$ . /n the sale of immovable property$ if it has been stipulated that upon failure to pay the price at the time agreed upon$ the rescission of the contract shall of right take place$ the vendee may still pay despite the demand for rescission /n the sale of movable property $ the rescission of the sale shall of right take place if the vendee $ upon the e&piration of the period 2&ed for the delivery of the thing $should not have appeared to receive it$ or having appeared he should tendered the price a. oth statements are correct. c. @irst is incorrect$ second is correct b. oth are incorrect d. @irst is correct$ second is incorrect 4. in good faith purchased a diamond ring from 0$ a friend of his. 0 gave a bill of sale .Fater onI + identi2ed the
ring as the one she had lost about a year before. There was no 6uestion as to the truth of +Gs allegation. /n case: a. + cannot recover the ring from because the latter was in good faith when bought the ring from 0. b. + cannot recover the ring from because it was lost by him M+ and found by 0$ therefore 0$ as 2nder will be keeper and owner could transfer ownership to $ an innocent purchaser for value c. 0 is the one liable to + for damages while becomes owner who could not be disposed being an innocent purchaser for value d. + can recover the ring from even if he is an innocent purchaser for value because 0 did not have title to convey to . 41. J the owner of a certain
c. J the 2rst registrant in good faith of the
sale b. O being the buyer of the principal himself car
d. The 2rst possessor in good faith of the
44. 5 sold to his parcel of land valued at *1 only for a measly sum of *.4 because if his poor . /n contract to sell of a parcel of land it was stipulated that upon failure to pay the price at the time agreed upon for payment$ the sale is automatically rescinded. Dence$ if the buyer fails to pay as agreed upon: a. The sale shall not be rescinded as a matter of right and the buyer may still pay as long as there is no demand for rescission b. The rescission of the contract of sale shall of right take place c. The rescission of the contract to sell shall of right take place d. 0ontract to sell or contract of sale$ rescission of the sale shall of right take place 9. 5 sold to his dog which he knew was aicted with a disease. The parties agreed that there is no warranty against hidden defect. After$ delivery$ the dog was struck by lightning and thus died. a. 5 is not liable to pay any amount because the dog was loss due to fortuitous event b. 5 is not liable because of the waive agreed upon between and himself c. 5 is not liable to return the price paid by because the waiver is void d. 5 is liable for the price less the value of the dog at the time of loss.
BUSINESS LAW QUIZ ON SALES-PART II
1. A contract whereby the contracting parties obligate him to transfer the ownership of and to deliver a determinate thing and the other to pay therefore a piece certain money or its e6uivalent is a contract of: a. arter b. 5ales c. 8acion en *ago d. ortgage . The following are the essential elements of a contract of sale e&cept a. 0onsent of the contracting parties b. 5ub
a. /tems / and // pertain to emptio rei sperati b. /tems // and /// pertain to emptio spei e. /tems / and /// pertain to a contract of sale
c. /tems // and / pertain to emptio rei sperati d. /tems // an /E pertain to contract of sale
>. 5 sells to 4 sacks of rice at 1$ $ per sack from the stock then stored in the warehouse of 5. %nknown to the parties$ the warehouse contains only for )= sacks or rice. !hat it the status of the contract a. The sale is void since the 6uantity available is less than the 6uantity sold b. The sale is valid up to )= sacks of rice but void as to the de2ciency of sacks of rice c. The entire sale is valid up to 4 sacks of rice becomes. becomes the owner of the whole stock available and 5 must deliver the de2ciency of sacks of rice d. The sale is valid up to )= sacks of rice but rescissible as to the de2ciency of sacks of rice by reason of damage su'er by . 1. 5 sells to at *4 per litter ( litters of gasoline stored in his trucks tank which unknown to the parties$ contains 4 litters .!hat is the status of the contract of sale between 5 and a. The sale is void since the 6uantity available is less than the 6uantity sold b. The sale is valid up to 4 litters of gasoline . must pay for the additional litters c. The entire sale is valid up to 4 gasolines of litters. becomes the owner of (P4 whole of the stock$ while 5 becomes the owner of P4 thereof d. The sale is rescissible because 5 will su'er lesion of more than R of the value of the whole stock 11. The seller must be the owner of the property he sells because he must transfer the ownership thereof to the buyer .The delivery of the thing may sold may be by mere agreement of the parties a. oth statements are true c. oth are true b. +nly the 2rst is true d. +nly the second is true 1. 5 and entered into a contract whereby 5 transferred to speci2c car for the price of $.$ while gave To 5 >$. in cash and a diamond ring with worth 11$. .The heading of the written contracts reads "0ontract of 5ale# a. The contract is void because the intention of the parties is void since the value the diamond ring is more than monetary consideration given b. The contract is valid contract as intended by the parties regardless of whether the monetary consideration is more or less than the value of the property consideration c. The contract is valid contract of the barter since the value of the property is given more than the monetary consideration The intension of the parties is immaterial d. The contract is partly a contract of barter and partly a contract of sale 1(. The price in a contract of sale is certain e&cept a. !hen the parties have 2&ed or agreed upon de2nite of 2&ed amount b. /f the price is certain with reference to another thing certain c. /f the 2&ing of the price is left to the discretion of one of the thing parties d. /f the price 2&ed is that which the thing sold would have on a de2nite day or in a particular e&change or market 1). +n ,anuary 1$ 5 orally sold to a speci2c ring for *)4..The parties agreed that 5 shall deliver the thing to on ,anuary 4 while will pay the price on ,anuary ;
a. The contract is perfected on ,anuary 4 when the ring is delivered by 5 to b. The contract is perfected on ,anuary 1 when the parties had a meeting of minds on the ob$ . c. 5 cannot enforce payment because the contract was verbal d. 5 cannot enforce payment because there was no contract of sale yet. 1;. +n ,une 1$ 9 5 sold to 4 units of machines which were scheduled to arrive from ,apan. The sale was evidenced by an invoice identifying each machine by serial number. ach machine was priced at 1$. %nknown to the parties$ ( units were damaged beyond repair by seawater on ay (1$ 9. ased on the foregoing$ which of the following statements is incorrect a. may rescind the whole contract b. may demand delivery of the remaining units and pay the price therefore c. 5 may re6uire payment of the whole shipment from since 5 was not aware of the damage caused on the machines at the time of sale d. 5 has no option to rescind the whole contract or re6uire payment of the remaining units 1=. /t refers to the delivery of the thing$ from hand to hand in case of movables$ or the taking or possession with the respect to immovable$ in the presence with the consent of the vendor a. Actual or real delivery b. Traditio longa manu b. Traditio constitutum d. Traditio brevi manu 1>. 8elivery of incorporeal property may be through any of the following means e&cept a. &ecution of public document b. *lacing the titles of ownership in the possession of the vendee c. %sed by the vendee of his rights$ with debtors consent d. &ecution of private instrument . !hich of the following statements on the transfer of ownership of the thing sale in trial is incorrect a. +wnership of the thing is transferred to the vendee when he signi2es his approval or acceptance to the vendor b. +wnership of the thing is transferred to the vendee when he does act adopting the transaction c. +wnership of the thing is transferred to the vendee if the time 2&ed for the return of the thing has e&pired and the vendee retains the thing without giving notice or re
1. +n arch 1$ 9 5 sold and delivered to a television set for 1$. on sale or return giving up to arch 19$ 9 within which to return the television the set. +n arch 19$ 9 the television set was burned through no fault of . based on the foregoing$ which of the following statements is incorrect a. 5 does not have to replace the TE set. b. 5 must be the loss since the time for the return of the television set had not yet e&pired c. The ownership of the television set was transferred to upon delivery to him. d. must bear the loss of the television set. . /n a contract of sale of personal property the prince of which is payable in installments$ the vendor may e&ercise any of the following remedies$ e&pert. a. &act ful2llment of the obligation$ should the vendee fail to pay any number of installments. b. 0ancel the sale should the vendeeGs failure to pay cover two or more installments c @oreclose chattel mortgage on the property if the vendeeGs failure sale if they have a stipulated d. @oreclose chattel mortgage on the property if the vendeeGs failure two or more installments but he may no longer recover any de2ciency after the foreclosure sale. (. T stole a ring belonging to +. 5ubse6uently$ the o'ered for sale at public auction where J$ who was not aware that the ring was stolen$ bought it. A few weeks later$ + saw the ring and recogni3ed it as his. ased on the foregoing information$ which of the following statements is correct a. + may recover the ring from J without reimbursing J since + was unlawfully deprived of the ring b. + may recover the ring from J but he has to reimburse J since J ac6uired title of the ring c. + may no longer recover the ring even if he is willing to reimburse J. d. J did not ac6uire title to the ring since the auctioneer had no valid title thereto. ). !here the seller of goods has a voidable title thereto$ but his title has not been avoided at the time of the sale$ the buyer ac6uires title to the goods. 5uch ac6uisition of title has the following re6uisites e&cept a. The buyer must have bought the goods in good faith b. The buyer must have bought the goods in good faith. c. The buyer bough them without notice to the sellerGs defect of title. d. The seller is good faith. 4. 7$ 5 and T are co-owners of an undivided parcel of the land. 7 sold 1P( interest to T in a deed of absolute sale. !hich is correct a. 5 may e&ercise the right of redemption on the interest sold by 7 and T. b. 5 cannot e&ercise the right of redemption. c. The sale made by 7 to T is voidable. d. 5 may redeem only ? of the interest sold by 7 to T. 9. 8 obtained from 0 a loan amounting to *4$ . the same being secured by a mortgage on 8Gs lot. Thereafter$ 0 assigned his credit right to T with notice to 8. base on the foregoing facts$ which of the following 5tatements are incorrect a. T cannot collect from 8 if 8 not gives his consent to the assignment. b. T can collect from 8. 8Gs consent to the assignment is not re6uired c. T can collect from 8 and 8 cannot pay$ T can foreclose the mortgage on the lot d. T notice to 8 of the assignment is suScient. 8 must make his payment to T and no longer to 0 ;. A kind of mortgage which$ although lacking some formality$ form of words$ or re6uisites prescribed by law$ show the intention of the parties to charge real property as security for debt and contains nothing impossible or contrary to law is known as:
a. Fegal mortgage b. 6uitable mortgage
c. 0onventional mortgage d. Eoluntary mortgage
=. /f a movable property is sold separately to two or more di'erent vendees$ ownership shall belong to the person: a. !ho is good faith 2rst paid the purchase price in full b. !ho is good faith 2rst recorded the sale in the 7egistry of *roperty c. !ho is good faith presents the oldest title d. !ho is good faith 2rst took possession of the property >. A contact of sale is perfected: a. %pon compliance with the re6uirements of the law as to form b. %pon delivery of the ob
c. 0onsensual contact d. 7eal contact
(1. The following may not be valid ob
same lot to J$ also through a deed of sale duly acknowledged before a notary public. J had the sale registered with the 7egister of 8eeds. Neither nor J was aware of the same sale made by 5 to the other and neither took physical possession of the lot. !ho is the present owner of the lot a. $ because he was the 2rst purchaser in good faith b. J$ because he registered the sale in good faith c. Neither or J d. 5$ as long he does not surrender physical possession of a lot. (=. purchased from 5 a laptop computer worth *1$ .. The term of sale provide for a down payment of *.. with the balance payable in = e6ual monthly installments. To secure the balance$$ 5 re6uired to e&ecute 0hattel mortgage on the laptop computer and Gs lot. complied with all the re6uirements but defaulted in the payment of the third and fourth installments. Theses remedies are available to 5 e&cept one. !hich is it a. 0ancel the sale. b. &act ful2llment of the obligation. c. @oreclose the real mortgage and thereafter recover any de2ciency from . d. @oreclose the chattel mortgage and thereafter foreclose the real mortgage incase of de2ciency. (>. 5 and entered into a contract where 5 transferred to a speci2c piano for the price of *=$ .$ while gave to 5 cash. +f *($ . and a diamond ring worth *4$ .. !hat kind of contract was entered into between 5 and a. A contract of barter. b. A contract of sale . c. The contract of sale. d. The contract is an in nominate contract because the intention of the parties cannot be determined. ). +ne of the distinctions between option money and earnest money isI a. The consideration paid for the purpose of holding one to his promise to buy or sell a determinate thing for certain period of time. b. Not part or the purchase price. c. *roof of the perfection of the contract of sale. d. *aid before the perfection of the contract of sale. )1. This refers to the warranty of the seller that he has the right to sell the thing at the time when ownership is to pass$ and which can be enforce if the buyer is deprived of the property sold by a 2nal
d. Das for its consideration the price of the thing )). A and are co- owners of a rural lot not e&ceeding 1 hectare. The lot is surrounded on its sides as followsI on the North$ by the road$ on the ast$ by the lot of J consisting of hectares$ on the south$ by the lot of B consisting of 1P hectare$ and on the west$ by OGs lot consisting of U hectare. A sells his undivided interest in the agricultural lot to T$ who owns hectares of rural land in the area. !ho has the right of legal redemption over the undivided interest in the lot sold by A to T a. b. J c. B d. O )4. /t is an aSrmation of fact or any promise by the seller relating to the thing which has a nature tendency to induce the uyer to purchase the same$ relying on such promise or aSrmation. a. 0ondition b. false representation c. !arranty d. 5ellerGs talk )9. /n one of the following cases$ the ownership of the thing ob
);. %nder the "7ealty /nstrument uyer Act#$ the buyer or real estate on installment payments may pay an installment defaulted without additional interest if he has paid at least two years of installments .The law is applicable to salesPtransactions involving: a. /ndustrial lots c. 7esidential lots b. 0ommercial buildings d. 5ales to tenants under the Fand 7eform Faw )=. 5 the owner of a rent-a-car business leased one of his cars to for one month .+n the day of the e&piration of the lease and while was still in possession of the car$ o'ered to buy the car from 5 for $.. elieving the price to be a good one$ 5 readily accepted Gs o'er and then and there e&ecuted a deed of absolute sale in favor of who immediately paid the in price in cash. Thereafter$ drove away from place of 5. a. The delivery of the car by 5 to is by constitutum manu b. The delivery of the car by 5 to is by Traditio longa manu c. The delivery of the car by 5 to is by Traditio brevi manu d. There was no delivery because should have turned over the possession of the car to 5 upon the e&piration of the lease so that 5 could make the proper delivery to him upon the e&ecution of the contract of sale )>. called on 5 at the shoe factory of 5 for the latter to make a pair of shoes which would be needing in the play "7omeo and ,ulietV. provided 5 with the description of the pair of shoes that he wanted since 5 did not manufactured the kind of shoes that needed. 5ince 5 and had been neighbors for a long time$ their agreement was sealed with a handshake a. The contract between 5 and becomes enforceable if 5 had already completed making a pair of shoes b. The contract between 5 and becomes enforceable if had already paid agreed upon for the work c. The contract between 5 and is enforceable even if it is still e&ecutory d. The contract cannot be enforced by either party because it was not in writing 4. !hich of the following contract of sale is void a. +ral sale of a piece of land made through an agent whose authority in a public instrument b. 5ale of a piece of land in a public instrument made through an agent whose authority was given orally by the principal c. 5ale of a piece of land in private instrument made through an agent whose authority is in a public instrument d. 5ale of a piece of land in private instrument made through an agent whose authority is in a public instrument BUSINESS LAW QUIZ ON SALES – PART III
1. +n ,uly 4$ 9 A sold for * her house and lot to . /t was agreed that delivery of the house and lot$ and the payment therefore would be made on August 1$ 9 .%nfortunately$ 0 negligently set the house on 2re on ,uly 9$ 9 and the house was completely destroyed. !hich h is correct a. is not re6uired to pay the >$ since the contract had no sub
. /f immovable property should have been sold to di'erent vendees$ the ownership shall be transferred to the person a. !ho have 2rst taken possession in good faith b. !ho present s the oldest title in good faith c. !ho in good faith 2rst recorded it in the 7egistry of *roperty d. !ho have paid in good faith the purchase price in full (. %sing the preceding number if movable property it shall belong to the person a. !ho have paid in good faith the purchase price in full b. !ho in good faith 2rst recorded it in the 7egistry of *roperty c. !ho present s the oldest title in good faith d. !ho have 2rst taken possession in good faith ). Action by the vendee against the vendor to nullify the sale due to some vices or defects which render the ob
d. 7escissible
=. /n a contract of sale of personal property $ the price of which is payable in installments $the vendor may e&ercise any of the following remedies e&cept a. e&act ful2llment of the obligation should the vendee fail to pay any installment b. cancel the sale$ should the vendeeGs failure to pay cover two or more installments c. foreclose the chattel mortgage on the thing sold $ if one has been constituted should be vendees failure to pay to recover two or more installments d. rescind the sale should the vendee fail to pay any installment >. The right of the seller to stop the goods in transit upon discovering that the buyer does not have the funds to pay for the goods a. pre-emptive right c. voting right b. appraisal right d. right of stoppage in transit 1.A sold to a parcel of land for *(.= .The sale is evidenced by a memorandum of agreement of sale .+ne week later$ A sold the same parcel of land to 0 for *). This is evidenced by a formal deed of sale. %pon buying the property$ 0$ was who was aware of the 2rst sale$ immediately took possession of the lot .!hen informed of the second sale$ subse6uently registered an adverse claim property .Fater$ 0 registered the deed of sale in her favor .The parcel of land shall belong to a. because he has got an older title c. 0 because he is the 2rst to take possession b. 0 because he is the 2rst to register d. No one as both sales are void
11. Eoluntary renunciation made by the buyer of his right to warranty against eviction where in case the buyer is evicted the seller is liable to the value of the thing at the time of eviction
a. waiver intencionada b. waiver consciente
c. waiver cursunada d. waiver inocente
1. %sing the preceding number where the seller is no longer liable a. waiver intencionada c. waiver cursunada b. waiver consciente d. waiver inocente 1(. A contract of sale whereby the seller ac6uires the right to redeem or repurchase the ob
1>. !hen goods are deliver to the buyer on sale or return for period of seven days$ ownership of the goods passes to the buyer a. %pon perfection of the contract b. %pon acceptance by the buyer of the o'er of the seller c. %pon e&piration of seven days d. %pon delivery of the goods . Quasi-Traditio is e6uivalent to a. Traditio longa-manu b. Traditio brevi-manu
c. Traditio constitutum possessorium d. uyer has the title of ownership
1. imported radios from ,apan and asked for volts capacity. The radios arrived clearly labeled volts and sold them to the public as such. Fater a customer complained that the radios have been mislabeled by the manufacturer a. is liable to the vendees for any hidden defects even though he is not aware b. is not liable because he is in good faith c. is not liable under the principle of "caveat emptor# or let the buyer beware d. The vendees may hold the manufacturer liable but because specially asked for volts . /f redemption is to be made by the seller one of the following need not to be given to the buyer a. e&penses of the contract b. interest on the price of the sale
c. necessary e&penses on the thing sold d. price of the sale
(. Not an element of the sellersG right of stoppage in transit a. the good must be in transit c. the seller must be in possession of the goods b. the buyer must be insolvent d. the seller must be unpaid ). A sold his only car to for ($ to be paid as follows: 14$ upon delivery of the car to and the balance at 1$ per month until full payment of the purchase price. Fater the car gets burned in the possession of through fortuitous event before full payment of the balance ./s obliged to pay the balance a. No because the car was lost through a fortuitous event and without Gs fault $hence Gs obligation is e&tinguished b. No because the loss should be borne by the seller as this an installment sale so until the buyer pays the full amount of the price of the sale $ A remains to be owner c. Bes but A must give another car to because of the principle genus nun6uam peruit or generic thing never persihes d. yes because of the principle res perit domino or the thing perishes with the owner 4. A and 0 are owners of an undivided parcel of land$ A sold his 1P( interest to absolutely.!hich is correct a. 0 may e&ercise his right of redemption on the interest sold by A to b. 0 cannot e&ercise the right of redemption because the sale was made in favor of a co-owner c. The sale made by A to is void because it was made in favor of a stranger d. 0 may redeem only ? of the interest sold by A to 9. %sing the preceding number$ 5uppose instead of selling his interest to $A sold it to 8$ who can e&ercise the right of redemption a. oth and 0 b. but not 0 c. 0 but not d. A$b and 0
;. !hich of the following cannot be an ob. A o'ers to 1 electric fans for =$ payabel in 9days with 1W imterest per annum. accepted the o'er by telegram provided that interest is reduced to 9W ./f there is no futher communucation between A and relating to the terms a. the contract is perfected because of the acceptance by b. there is no contract yet between a nd b because b made a counter o'er c. there contract is perfected under the terms of a d. there is no contract yet unless b gives earnest money (.A owns 4 mango trees bearing fruits ready for harvest.5he sold all the fruits of all the trees to who paid *1$. A told that he can harvest her fruits anytime he likes and pointing at the mango trees.@or legal purposes$ A has ful2lled her obligation to deliver the mango fruits to by a. tradito brevi-manu c. traditio longa-manu b. tradito symbolica d. traditio consitutum possessoruim (1. A sold her speci2c car to for $ payable in 4 e6ual installments. A delivered the car to but a mortgage was constituted on the car to anwer for the unpaid installments paid the 2rst installments but failed to pay the last ( installments. A foreclosed the mortgaged and sold it at public auction for 1$.!hich is correct a. a can recover from b the balance of $ even if there is no stipulation to that e'ect b. a can recover c. a cannot recover the de2ciency e&cept if there is stipulation to the e'ect d. a cannot recover the de2ciency even if there is stipulation to the contrary
(4. A seller sold to a buyer a piece of months and was in arrears for three months.A terminated the lease contract and repossessed the generator.The conse6uence of the transaction is a. a can collect the rental fees for three months which are in arrears b. a can collect the rentals fees for the une&pired 1 months of the lease contract c. when a took posssession on the generator $ he has no further action against b (=. 5 sold to a parcel of land for *1 infake bills.The sale is: a. void because there was no valid cause or consderation $ the bills being fake b. voidable only since there was consideration but due to fraud delivered fake peso bills. c. valid sale because of valid cause of *1 price d. void because of false cause which is the counterfeit currency (>.The buyer is obliged is to pay interest on the price from the time of delivery of the thing sold up to the time of payment in three following instances e&cept a. should it have been stipulated b. should the thing produce fruits or income c. should the vendee be in default in the payment of the price d. should the vendee be insolvent ).
(. +wnership of the thing sold is a. retained by the seller in "sale or return# b. transferred to the buyer upon constructive or actual delivery of the thing sold c. ac6uired by the buyer upon perfection of the contact d. transferred to the buyer upon acceptance of the price ((. B sold his horse to O for * 4$. No payment has yet been made and the sales document does not provide the date of delivery. efore delivery and payment the horse gave birth to a colt. !hich is correct a. O is entitled to the colth which was born after the perfection of the contact b. B is entitled to the fruit Mcoltas O has not paid the price yet c. B entitled to the Mcolt because it was born before his obligation to deliver arises d. O should pay additional amount for the colt to be entitled to it (). A contact of sale is in the stage of conception when a. there is meeting of the minds c. the parties come to an agreement b. negotiations are in progress d. the contact is perfected
the
The seller is liable for e&press warranty only if there is stipulation on the warranty /f it is stipulated that there is no warranty against hidden defect$ the seller is still liable for the value of thing lost due to the hidden defect. a. both satements are false c. 2rst is true$ second is false b. both are true d. 2rst is false $ second is true
)1. !aiver consciente and intencionada apply to both hidden defect and eviction 7escission of the sale may be resorted to by the vendee incase of total eviction a. both satements are false c. 2rst is true$ second is false b. both are true d. 2rst is false $ second is true ). 5 sold to a water pump with brand name Digopka .After delivery it was discovered that the pump does not functioning well prompting to complain.Therefore: a. b does not have the right to complain for breach of warranty against hidden defect because the thing has a brand name when soldI
b. b has the right to complain for breach of warranty against hidden defect despite the thing being sold under a patent or trade name. c. s is not liable for hidden defect even if the thing sold is un2t for the particular purpose for which it is soldI d. s is liable for hidden defect only if it was stipulated )(./mplied warranties as provided by law are enforceable only if so agreed upon by the seller and buyer in a contract of sale. ven if there is waiver of warranty against eviction and eviction should take place the seller is liable to pay the value at the time of the sale a. 2rst statement is true$ second is false c. both are false b. second is true$ 2rst is false d. both are true )). bought on installment a car and e&ecuted a chattel mortgage on the same in favor of the seller 5 as security for the unpaid balance of the price.They agreed that shall be liable for any de2ciency that may arise after foreclosure of mortgage. failed to pay two installments.5 2led a case for collection of the unpaid balance and attached the car and other asstes of . a. 5 cannot attach the other assests of b because the 7ecto Faw applies only in case of law b. 5 can attach the car and other assets of as this provided c. 5 cannot go after the other assets of as this as provided for under the 7ecto law in case of the seller e&acting speci2c performance of the buyers obligation to pay d. 5 can attach all the assets of in e&acting ful2llment of Gs obligation to pay )4. 5 sold to a dog on
/n contract of sale$ the buyer becomes owner upon payment of the price. a. both statements are true c. 2rst statement false$ second is true b. both are false d. second is false$ 2rst is true );. A contract of sale may be absolute or conditional. /n pacto de retro sale$ the repurchase is suspensive condition that will give rise to a sale. a. 2rst statement is false$ second is true c. both are false statements b. second is false$ 2rst is trueI d. both are true )=. 8 deposited his goods in the warehouse of ! who issued to 8 a warehouse receipt stating that the goods are to be delivered to bearer. Thereafter$ A obtained possession of the warehouse receipt from 8 in e&change for what A claimed to be a bar of gold$ which$ however$ was discovered by 8 to be fake. 8 demanded the return of the warehouse receipt from A but same had already been negotiated by A to D who purchased the document for value$ in good faith and without notice that 8 was deprived possession thereof by fraud. The negotiation by A to D is: a. voidable b. valid c. void d. rescissible )>. purchased a pair of leather shoes from the store of 5. 5hortly after leaving the store $ decided to return and re6uested 5 the owner to place a protective rubber covering on the sole of each shoe.5ince the
