kupdf com test bank cpar sales

In order to evade the payment of said liability, he executed a deed of sale of his only parcel of land valued for P200,000 in favor of his brother Pedro, where P20,000 was stated as the

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TEST BANK SALES, AGENCY and PLEDGE1.Unless there is stipulation to the contrary the expenses for the execution or registration of the sale shall be borne by:

A The Vendee

B The Vendor

C The Vendee and Vendor

D The agent or broker

2 A offered to sell his lot to B for P100,000 In his offer to sell it was stated that he is given 60 days to prepare the P100,000 and as soon as B is ready with the money, A will execute a deed

of sale Before the end of 60 days, A informed B that price of the lot was increased to

P120,000 May B, compel A to accept P100,000 offered previously by A and make him execute the deed of sale?

A Yes, because A already signed his offer

B No, For B never signified his acceptance of A’s offer.

C Yes, because there was actual meeting of minds of the parties

D Answer not any of the above

3 A wrote a letter to B wherein A offered to sell a piece of land to B for P200,000 B signified his desire to buy the land In A’s letter he gives B a period of two (2) months within to produce the P200,000 After 45 days, A told B that the price of the land is now P250,000 Can B compel A to accept the P200,000 first offered by A and execute the deed of sale?

A Yes, because there was actual meeting of the minds of A’s offer

B No, for B did not signify his acceptance of A’s offer

C Yes, because A is already estoppels by his signed letter

D Yes, because the period of two (2) months has not expired

4 Mr AB owes Mr CD P150,000 due on August 1, 2010 Mr AB executed mortgage in favor

of Mr CD on Mr AB’s building to guaranty the obligation On August 10, 2010, the

mortgage building was totally lost due to a strong typhoon On August 12, 2010, Mr CD demanded payment from Mr AB Is Mr CD’s demand valid?

A No, the obligation is one with a definite period, thus the creditor cannot demand

fulfillment of the obligation as such would the prejudicial to the rights of the debtor

B No, the obligation is extinguished because the obligation is lost through a fortuitous event

C Yes, the debt becomes due at once because the guaranty was lost even through a fortuitous event Unless the debtor can mortgage another property that is equally satisfactory.

D Yes, the debt becomes due at once because, from the tenor benefit is given solely to the creditor thereby giving the creditor the right to demand performance even before the date

5 Mrs Go sold and delivered her diamond ring to Mrs Pat It was agreed upon that after ten (10) days Mrs Pat will name and fix the price On the tenth (10th) day, Mrs Pat called up by telephone Mrs Go and stated the price at P10,000 Mrs Go agreed IS the sale perfected?

A Yes, the price stated and named by one of the contracting parties was accepted by the other.

B No, at the time of the sale the price was not fixed

C No, the price was left to the discretion of one of the parties

D No, at the time of the sale the price is not known

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6 Mr Sy sold a parcel of land to Mr Tan for P200,000 Mr Sy delivered the transfer Certificate

of Title of the land to Mr Tan Later, Mr Tan wanted to register the land to his name and he needed a Deed of Sale What can Mr Tan do?

A Mr Tan can compel Mr Sy to execute a Deed of Sale

B Mr Tan cannot compel Mr Sy to refund the P200,000 because the contract is not

enforceable

C Mr Tan can sue Mr Sy enriching himself at the expense of another

D Mr Tan can possess and utilize the land as a buyer in good faith

7 Bonds which are not secured by any specific mortgage lien of pledge or corporate property but by the general corporation are:

A Guaranteed bonds

B Debenture bonds

C Income bonds

D Redeemable bonds

8 The buyer of a thing has the right to the fruits of the thing:

A From the time the thing bought is delivered

B From the time the sale is perfected

C From the time the obligation to deliver the thing bought arises

D From the time the fruits are delivered

9 Three (3) of the following are option money Which is the earnest money?

A Given when contract of sale is perfected.

B Given when there is no contract of sale

C Given to bid the offer or in a unilateral promise to sell or to buy

D Given as a separate consideration from purchase price

10 In a sale, this is actual delivery

A Execution and signing of the sale document

B When the goods sold are placed in the control and possession of the buyer.

C Delivery by the seller to the buyer of the key where the goods sold are kept

D The buyer is already in actual possession of the goods

11 This is a mode to extinguish an agency:

A Death of the principal, but the agency is for the interest of the principal and agent

B Partial accomplishment of the agency

C Upon withdrawal of the principal

D Insanity of principal or agent.

12 D pledged his Singer Sewing Machine to C for P8,000 D was unable to pay the obligation

60 days after it was due C sold the machine at public auction for P6,000

A C cannot recover the deficiency of P2,000 even if there is stipulation that he can.

B C can recover the deficiency of P2,000 even without stipulation

C C cannot recover the deficiency of P2,000

D C can recover the deficiency of P2,000

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13 In a sale, the buyer is entitled and has the right to the fruit of the thing sold from the time:

A The obligation to deliver the thing sold arises

B The sale is perfected

C The thing sold is delivered

D The fruit of the thing sold is delivered

14 Mr AB offered in writing to sell his house and lot for P750,000 to Mr CD on July 1, 2010

Mr CD requested Mr AB to give him 60 days within which to raise the P750,000 On August 15, 2010 Mr AB informed Mr CD that the price is raised and now at P1,000,000 Can Mr CD compel Mr AB to sell his house and lot at P750,000 which was offered in writing by Mr AB?

A Yes, because Mr AB is already stopped by his written offer

B Yes, because the 60 days offer has not yet expired

C No, because Mr CD has not accepted the offer of Mr AB.

D Yes, there was meeting of the minds

15 In distinguishing Earnest Money from Option money, earnest Money is:

A Given when there is no contract of sale,

B Given only when there is perfected contract of sale.

C Given to bind the offer or in a unilateral promise to sell or buy

D Given as a separate consideration from the purchase price

16 Gay appointed May to sell the former’s car for P200,000 May sold the car to Pam, Pam inspected the car and found hidden defects in the car Can Pam file an action against Gay even when May acted in her own name?

A No, under “Caveat Emptor” let the buyer beware

B Yes, because this is contract involving property belonging to the principal

C No, because, May acted in her own name not of the principal

D No, because the contract of sale is already perfected

17 Mr San authorized Mr Soy to sell his car for p200,000 with 5% agent’s commission Mr Soy sold the car to Mr Dy for P250,000 For how much is Mr Soy accountable to Mr San?

A C can recover the deficiency of P500 from B

B C can recover the deficiency of P500 even without stipulation

C C cannot recover the deficiency of P500 unless there is stipulation

D C cannot recover the deficiency of P500 even if there is stipulation.

19 Which of the following may not be the object of sale?

A Things having potential existence

B The sale of a vain hope or expectancy

C Future goods

D Answer not given

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20 When delivery takes place by the mere consent or agreement of the contracting parties as when the vendor merely points to the thing sold which shall thereafter be at the control and disposal of the vended if the thing sold cannot be transferred to the possession of the vendee

at the time of sale, delivery is effected:

A By tradition symbolica

B By traditio longa manu

C By traditio brevoi manu

D Answer not given

21 The distinction between a chattel mortgage and a pledge is that in chattel mortgage:

A The delivery of the personal property is necessary

B The registration of the property in the Registry of Property is not necessary

C The excess over the amount due after foreclosure, goes to the debtor

D Answer not given

22 Sale is distinguished from dation in payment in that in sale

A There is a pre-existing obligation or credit

B The cause is the price

C It is a mode of extinguishing an obligation in the form of payment

D Answer not given

23 Mr Mar orders for his workers 1,000 pieces of T-shirt ranging in size from small to large from RDG Garments Mfg Corp The specified sizes, although not then available, are

manufactured by said corporation and consigned to its sales outlets regularly The contract entered into by Mr Mar with the RDG Garments Mfg Corp is a:

A Contract for a piece of work

B Contract subject to a resolutory condition

C A contract of sale

D Answer not given

24 Mr Amado owes the BIR P100,000 in delinquent taxes and penalties In order to evade the payment of said liability, he executed a deed of sale of his only parcel of land valued for P200,000 in favor of his brother Pedro, where P20,000 was stated as the purchase price but the BIR has evidence that said price had never been paid, the purpose of the sale being to prevent the BIR to levy upon the land to satisfy the tax liability of Mr Amado In this case:

A The BIR may not levy upon the land because the sale is void

B The BIR without annulling the sale may levy upon the land of Amado pursuant to the provisions of the National Internal Revenue Code

C The BIR should first annul the sale before it may levy upon the land pursuant to the provisions of the National Internal Revenue Code

D Answer not given

25 Mr Rene owns a mango tree bearing fruits, ready for harvest He sells all the fruits of that tree to Mr Mar who pays Mr Rene the sum of P5,000 Rene tells Mar that he can just

harvest the fruits anytime he likes pointing at the particular tree For legal purposes, Rene has fulfilled his obligation to deliver the mango fruits to Mar by:

A Traditio brevi manu

B Traditio longa manu

C Traditio simbolica

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D Answer not given

26 Mar Garci, before going to Spain appointed Jc Legaspi as his agent to administer his

properties in the Philippines Afterwards, Legaspi wrote Garci that he ( Legaspi) was

withdrawing from the agency because of failing health Legaspi, in the same letter said that

he appointed Eg Legaspi as his substitute and that Mar should extend a new appointment to

Eg Eg took over the duties of Jc but Mar did not bother to appoint Eg to act as his agent until Mar’s death Now Mar’s heirs brought an action against Eg for accounting Eg raised the defense that he was not validly constituted as an agent of Mar In the case at bar, defense

is not tenable because there is:

A An actual agency

B An implied agency

C A general agency

D Answer not given

27 Maria is authorized by Dulfo to sell the latter’s washing machine for P5,000 each at 10% commission One day, Dulfo sells one washing machine to Carla on credit (payable in 90 days) but for a price of P6,000 If Dulfo does not ratify this sale on credit, he can collect cash payment from Maria:

A P4,500 (P5,000 less P500 commission)

B P5,000 (the price without commission)

C P5,400 (P6,000 less P600)

D Answer not given

28 Tony sold a piece of land to Rene binding himself not to sell the same to another person On the following day, Tony sold the land to Carla who immediately took possession in good faith In the case at bar, the proper remedy of Rene is to:

A Institute an action for the annulment of the sale to Carla

B Institute an action for the recovery of the land

C Institute an action for damages against Tony

D Answer not given

29 Ces kidnapped and tortured Ed for refusing to sell his (Ed’s) land to Ces Ed who could no longer bear the physical pains inflicted upon him signed a document of sale in favor of Ces This sale is:

A Void

B Voidable

C Valid

D Answer not given

30 A sold a residential land to B B paid the consideration When B wanted to register the sale at the Register of Deeds, the latter refused to register and requires the presentation of the certificate of capital gains tax payment What can B do?

A B may sue A to refund the consideration paid by B under the maxim, “no one shall enrichhimself at the expenses of another.”

B B cannot compel A to return the selling price because the contract is not enforceable

C B may possess the residential land as a buyer in good faith

D B may compel A to pay the capital gains tax and secure the certificate of capital gains tax payment

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31 A Seller sold to a Buyer a piece of jewelry at a price of P20,000 The contract provides that the Buyer will pay Seller a micro wave oven worth P5,000 What is the nature of the contract?

1 An offer to sell a 500 sq.m lot for P300,000

2 An option time up to October 31, 2010 for Mr Baje to raise the P300,000

3 Upon payment of the P300,000, Mr Abad will execute and sign a Deed of Sale

4 On October 31, 2010, Mr A Abad sent a letter to Mr B Baje asking for a new price of P350,000 for the 500 sq m lot

Can Mr B Baje compel Mr A Abad to accept the P300,000 and make him sign and execute

a Deed of Sale?

A No, Mr.B Baje did not accept the offer of Mr A Abad

B Yes, Mr A Abad is already stopped by his sighing the letter and offer

C Yes, there was actual meeting of the minds

D Yes, the contract is perfected

33 Mr A mortgaged his residential land to Mr B as a guarantee for the payment of P400,000 obligation of Mr A They agreed that Mr A shall not sell the land while the obligation exists The maturity of the mortgaged, C offered to buy the land from Mr A

A A cannot sell the land to Mr C because of the agreement not to sell

B A can sell the land to Mr C only if B consents in writing

C A can sell the land to Mr C despite the agreement not to sell (?)

D A cannot sell the land to Mr C unless A pays the obligation

34 Mr D Dy constituted Mr S Sim as his authorized agent to sell the former’s Lancer car for P300,000 and to pay him a 5% commission on the selling price Mr S Sim sold the car for P320,00 Mr S Sim shall remit to Mr D Dy:

A P300,000

B P320,000

C P285,000

D P305,000

35 Ownership of the thing sold is transferred / acquired / retained:

A Retained by the seller in “sale of return”

B Transferred to the buyer upon constructive or actual delivery of the thing sold

C Acquired by the buyer upon

D Transferred to the buyer upon acceptance of the price

36 If redemption is made, which of the following will not be paid by the seller to the buyer

A Price paid by the buyer

B Expenses in the execution of the sales contract paid by the buyer

C All necessary expenses on the thing sold and to be redeemed

D Interest of the price paid by the buyer

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37 The following are requisites of Pledge except:

A The disposal of the pledge

B The absolute ownership of the property pledged

C The thing pledge may be placed in the possession of a third person

D To bind a third person, it must be recorded in the office of the Register of Deeds

38 The leviable properties of the debtor are transferred to the creditors to be sold and from the proceeds, the creditor are paid;

40 The principal is not liable for expenses incurred by the agent:

A When it was stipulated that the agent would only be allowed a certain sum

B When the agent has complied with his obligations by acting according to the principal’s instructions

C When the agent incurred them with the knowledge that an unfavorable result would ensueand the principal was aware of it

D When the expenses were incurred without the fault of the agent

41 An assignor of credit warrants:

A Solvency of the debtor

B Existence and legality of credit

C Collectibility

D Assurance of payment

42 A appoints B to sell his land

Example 1 If the authority of B is oral and B sells the land in writing The sale is valid Example 2 If the authority of B is in writing and B sells the land orally The sale is valid

A Both examples are true

B Both examples are false

C First example is true, but the second example is false

D First example is false but the second example is true

43 Which of the following is not a characteristic of Sale?

A Bilateral

B Gratuitous

C Consensual

D Nominate

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44 The following are the alternative remedies, except one available to the buyer in case of breach of warranty by the seller:

A Keep the goods and ask for damages

B Refuse to accept the goods and ask for damages

C Rescind the sale and retain the goods

D Keep the goods and set up against the seller by way of recoupment in price

45 Which of the following statements is true and correct?

A In a Contract of Sale, the full payment of the price is in the nature of a suspensive

condition in that the seller is obligated to transfer ownership of the thing sold

B The seller need not be the owner of the thing sold at the perfection of the sale.

C There may be a transfer of ownership over the thing even if the seller has not delivered the thing sold to the buyer

D In a Contract of Sale, the buyer becomes the owner of the thing sold upon full payment ofthe purchase price

46 X, Y and Z were appointed by R as his agents to administer his building which was rented by various tenants while R was abroad for three years In the course of management, X cause through his fault damage to the building which was assessed at P30,000 R can claim:

A P10,000 from each of X, Y and Z

B P30,000 from X

C P30,000 from Y and Z

D P30,000 from either X, Y and Z

47 Pledge and Mortgage are accessory contracts because they:

A Are meant to secure the fulfillment of a principal obligation.

B Cannot exist if the principal obligation is void

C Can exist by themselves

D Cannot secure fulfillment of rescissible obligation

48 Mr A offered to sell his land to Mr B for P300,000 Mr B accepted the offer and paid Mr A the purchase price Mr A delivered the owner’s certificate of the Transfer certificate of Title

to the land Mr B wants to register the land in his name but the Register of Deeds asks Mr B for the Deed of Sale What can Mr B do ?

A He may occupy the land as a buyer in good faith

B He cannot compel Mr A to return the payment because the contract is unenforceable

C He may compel Mr A to execute the Deed of Sale because the contract is valid.

D He may sue Mr A to return the purchase price under the legal principle that no one may enrich himself at the expense of another

49 Pacto de retro sale as distinguished from mortgage:

A There is redemption by payment principally of the debt

B There is no transfer of possession of the thing sold

C There is no foreclosure unless it is declared as an equitable mortgage.

D There is no transfer of ownership of the thing sold

50 A is authorized by B to sell the latter’s books for P100 each A sells 10 books to C on credit but for a price of P120 each After ratifying the sale on credit, B can collect After ratifying the sale on credit, B can collect cash payment from C

A P1,000

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B P1,200

C P1,080

D P 900

which is the object of the sale

II Payment of price is essential to delivery of the thing sold

A Both statements are true

B Both statements are false

C First statement is true, second statement is false.

D First statement is false, second statement is true

52 Three of the following are essential requisites of a contract of mortgage Which one is not?

A The person instituting the mortgage has the free disposal of his property

B The contract must be in writing.

C The mortgagor is the absolute owner of the thing mortgaged

D The mortgage is constituted to secure the fulfillment of a principal obligation

53 In real mortgage, the following rules are valid, except one:

A A stipulation in the mortgage contract prohibiting the owner from alienating the

immovable mortgaged is valid

B The mortgage may alienate the mortgage credit or assign to a third person in whole or in part

C Any stipulation allowing the mortgage creditor to appropriate the property

mortgaged is null and void.

D If alienation of the mortgage credit is not registered, it is still valid between the parties

54 A wrote a letter to B wherein A offered to sell his piece of land to B for P200,000 B

signified his desire to buy the land In A’s letter, he gives B a period of two (2) months within which to produce the P200,000 After 45 days, A told B that the price of the land is now P250,000 Can B compel A to accept the P200,000 first offered by A and execute the deed of sale?

A Yes, there was actual meeting of the minds of the parties

B No, for B did not signify his acceptance of A’s offer.

C Yes, because A is already stopped by his signed letter

D Yes, because the period of two months has not expired

55 A and B are good friends A sold and delivered his car to B It was agreed and understood that on the next Sunday A will name and fix the price of the car Sunday came A called B by phone and stated and fixed the price at P150,000 Is the sale perfected?

A Yes The price was stated and fixed on the date agreed upon

B No The price was left to the discretion of the seller

C No at the time of the sale, the price is not fixed

D No The price fixed by the seller was not accepted by the buyer.

56 In sale, this is actual delivery:

A Execution and signing of the sales document

B When the goods sold are p0laced in the control and possession of the buyer.

C Delivery by the seller to the buyer of the key where the goods are kept

D The buyer is already in actual possession of the goods

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57 This is a mode of extinguishing an agency:

A Death of the principal, but the agency is for the interest of the principal and agent

B Partial accomplishment of the agency

C Upon withdrawal of the principal

D Insanity of the principal or agent.

58 D pledged his Singer Sewing Machine to C for P8,000 D was unable to pay the obligation

60 days after due date C sold the machine at public auction for P6,000

A C cannot recover the deficiency of P2,000 even if there is stipulation that he can.

B C can recover the deficiency of P2,000 even without stipulation

C C cannot recover the deficiency of P2,000

D C can recover the deficiency of P2,000

59 In a contract wherein a person binds himself to render special service to do something in behalf of another with consent of the latter

A Contract of piece of work

B Contract of service

C Contract of agency

D Contract of exchange

60 Which of the following obligations of the vendor cannot be waived:

A To allow the buyer to examine the goods sold

B To transfer ownership to the buyer.

C To pay the expenses of the deed of sale

D To warrant the thing sold

61 A appoints B as his agent to sell his land, which of the following is valid:

A The authority of B is in writing and the sale of the land in favor of C is oral

B The authority of B from A is by way of letter and B sells the land to C in writing.

C The authority of B is oral and B sells the land to C for P50,000 in a written contract of sale

D When goods are delivered to an agent to be sold by him and the agent is not liable to the manufacturer of the goods

62 A stipulation whereby the pledge or mortgagee automatically becomes the owner of the thing pledged or mortgaged:

A Pactum commisorio

B Consolidation of ownership

C Conventional redemption

D Consignation

63 Which of the following statements is true and correct:

A Pledge and mortgage are accessory contracts because they cannot exist by

themselves.

B In both pledge and mortgage, the creditor is entitled to deficiency judgment

C Where an obligation is secured by a pledge or mortgage and it is not paid when due the pledge or mortgagee may dispose of the thing pledged or mortgaged if there is an

agreement to that effect between the parties

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D Unless otherwise agreed upon by the parties, the sale of the mortgage property

extinguishes in full the obligation of the mortgagor to the mortgagee

A First statement is true, second statement is false

B First statement is false, second statement is true

C Both statements are true

D Both statements are false

65 A sells to B for P25,000 all the mango fruits to be harvested from the mango orchard which

A plans to buy

I The sale is valid because the mango fruits have potential existence

II The sale is valid because the object of the contract need not exist at the time of the

contract

66 A who plans to buy a piece of land from B, enters into contract of sale respecting the same land with X for the price of P100,000 The contract is in writing

I The sale is not valid because a seller cannot sell that which he does not own

II The sale is not valid because a public document is required

C Both statements are true.

D Both statements are false

67 Husband owes C Subsequently, husband sold his car to his wife If husband cannot pay C

on due date:

I C can question the sale because the sale prejudices C, a creditor

II C can question the sale because husband is relatively disqualified to enter into this kind of sale

68 A sells his TV set to B for P50,000 on sale or return Subsequently, the TV set is lost by fortuitous event

I The risk of loss pertains to the seller because the buyer is not at fault

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II The risk of loss pertains to the seller until the buyer signifies to the seller that he accepts the TV set.

69 A offered to sell for P500,000 his house and lot to B who was interested in buying the same

A gave B thirty days to raise the amount and as soon as B is ready they will sign the deed of sale On the 25th day, A notified B that he is no longer willing to sell the property unless the price is increased to P550,000

I B can compel a to accept the P500,000 first offered because there exists a bilateral offer to sell and to buy a definite property for a definite price

II B cannot compel A to accept the P500,000 because this is merely an unaccepted unilateral promise to sell

B First statement is false, second statement is true.

70 I A promise to buy and sell a determinate thing for a price certain is reciprocally

demandable

II An accepted unilateral promise to buy or to sell a determinate thing for a price certain is binding upon the promissor if the promise is supported by a consideration distinct from the price

71 A specific boat was sold to B for the price of P1 million on credit Shortly after perfection of the sale but before delivery, the boat was destroyed by a fortuitous event

I The seller suffers the loss because at time of loss he was still the owner

II The buyer suffers the loss because if it were not for the fortuitous event ownership would have transferred to him

72 I Should fungible things be sold for a price independently and for a single price, the risk of loss before perfection pertains always to the seller

II Should fungible things be sold for a price fixed according to weight, number or measure the risk of loss pertains to the buyer after perfection even before delivery

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73 Maria purchased a quantity of bed sheets which were wrapped up in bales The sale was done

in the warehouse of Seller Some bed sheets were pulled out from the bales displayed and fount to be all right Maria then purchased 100 bales and paid the price After delivery, Maria discovered that some of the bed sheets contain holes

I Maria can return the bed sheets and recover the money she paid

II Maria cannot return the bed sheets and recover the money she paid because the principle “caviat emptor” applies

A First statement is true, second statement is false.

74 A entered into a contract of sale of his car to B for a price of P50,000 The terms are: Upon payment of P20,000 A shall deliver the car and the balance to be paid after one month B also executed a chattel mortgage on the car to secure the payment of the balance B defaulted in the payment of the balance, therefore A foreclosed the mortgage The proceeds realized in the foreclosure sale were not sufficient to pay the entire balance

I A can still recover the deficiency

II A cannot recover the deficiency because the law prohibits him from doing so

(?)75 Guardian sells the property of the ward to X for a price certain The property is rural land, area 1 /2 hectare X already owns rural land Guardian is an adjacent owner of 1/ 4 area and the other adjacent owner is C of 1/ 2 hectare

I Guardian cannot legally redeem because he is relatively incapacitated

II Guardian cannot legally redeem because he is the owner of a lesser area

76 S owns 10 sacks of rice for sale in his store B came into the store and buys the 10 sacks at the price of P1,200 per sack and promised S to pay as soon he is paid for the bags of cement which are then being unloaded from a truck parked opposite the store Upon request of B, S ordered the loading of the sacks of rice on the truck, continuously watching the loading After the sacks of rice were loaded on the truck, B did not appear to pay the price So S again ordered the unloading of the sacks of rice At this moment, the driver of the truck objected to the unloading of the sacks of rice claiming the he purchased the sacks of rice from B and therefore acquired ownership thereof

I S cannot order the unloading because B acquired ownership when the sacks or rice were loaded on the truck

II S cannot order the unloading because ownership was transferred to the driver by B who had ownership of the sacks of rice

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77 I If seller has ownership he can always transfer ownership.

II If seller has ownership but no possession he cannot transfer ownership by constructive delivery

78 I A contract of “sale or return” is a sale with a resolutory condition

II A contract of “sale on trial or approval” is a sale with a suspensive condition

79 I If the bill of lading covering the goods sold is by its terms the goods described therein are deliverable to the order of the seller, and retained by the seller, the seller has reserved his ownership over the goods

II If the bill of lading is by its terms the goods described therein are deliverable to the order

of the buyer and retained by the seller, the seller ha reserved his right of possession of the goods as against the buyer

80 B bought a pair of shoes from shoe store and repair shop It was later discovered that the pair

of shoes bought by B belonged to a customer who left it there for repair

I B acquired ownership provided he acted in good faith

II B did not acquire ownership because a seller cannot transfer ownership if he himself has

no ownership

81 I An unpaid seller loses his possessory lien after he has delivered the goods to a carrier for the purpose of transmission to the buyer without reserving the ownership in the goods or the right to the possession thereof

II The unpaid seller who loses his possessory lien does not lose his lien for the payment of the purchase price

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82 I Once the goods have been accepted by the buyer, the seller is no longer responsible to him for any breach of warranty.

II Acceptance by the buyer does not as a general rule release the seller from liability for breach of warranty

D Both statement are false

83 A enters into a contract of sale with B respecting 2 immovables for P200,000, the boundaries are mentioned and the area is 20,000 sq meters

I The seller shall suffer a proportionate reduction in price if the area delivered is less than the area specified in the contract even though the boundaries were followed

II The seller shall also be entitled to a proportionate increase in price if the area exceeds the number specified in the contract

84 S sells his piece of land to B for P100,000 Consequently, another contract was entered into between the parties whereby B leases the land to S

I This contract shall be construed as an equitable mortgage

II This contract is a contract of sale with leaseback

85 A sold his piece of land to B last November 10, 2009

I S shall repurchase the land within 4 years from date of sale

II S shall have within 10 years from date of sale to repurchase the land so long as the period

of repurchase shall not exceed 10 years

D Both statements are false.

86 A, B and C are co-owners of rural land with an area of 9 hectares A sold his undivided interest to X who does not own rural land

I B and C cannot legally redeem because the sale was an absolute sale

II B and C as owners can legally redeem for the purpose of reducing the number of ownership

co-A First statement is true, second statement is false

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D Both statements are false.

87 I Conventional redemption is a privilege

II Legal redemption is a right granted by law

88 A sold his piece of land to B with a right of repurchase when A has sold his car

I A can repurchase within 4 years from date of sale

II A can repurchase within 4 years from date of sale of his car

89 P authorized his agent to direct and administer his commercial business, among others “to collect sums of money and exact their payment by legal means.”

I A can bring a court action for collection provided he brings it in the principal’s name under his agency

II A needs a special power of attorney to bring a court action because the agency of A pertains only to acts of administration

90 I A special power to mortgage includes the special power to constitute a second mortgage

II A special power to mortgage does not include the power to sell

91 Agent was authorized by Principal to sell the latter’s TV set for P10,000 on the installment plan A was able to sell it for P10,000 cash basis

I The sale is not binding upon the principal unless the principal ratifies it

II The sale is not binding upon the principal because the agency was performed in a manner not included in the agency

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92 I An agency cannot revoked at principal’s will if the agency depends upon a bilateral contract.

II An agency cannot be revoked at principal’s will if the agency is for a compensation

93 A and B were appointed simultaneously by P as his agents Solidary liability of the agents was stipulated

I Any one of the agents shall be liable for any damage suffered by the principal for the nonperformance of the agency

II Solidary liability will apply in case of damages suffered by the principal caused by the negligence of either agent provided the agent acted within the scope of his authority

94 On September 1, 2010, P owns a piece of land gave a general power of attorney to A On October 1, 2010, P, without the knowledge of A executed in favor of C a special power of attorney to sell said piece of land November 10, 2010, A as attorney-in-fact of P executed a deed of sale over the piece of land in favor of X On the same date, C under the special power given by P, sold the same piece of land t Y Both purchasers acted in good faith X registered his sale Y did not

I The sale in favor of X must be respected because he registered it in good faith

II The sale in favor of Y must be respected because C was specially granted with

authority to sell

95 A, B and C appointed Z as their agent to sell their separate houses The appointment was made under one special power of authority

I A, B and C shall be solidarily liable under the agency to Z

II A, B and C shall be jointly liable under the agency to Z even though the appointment was made in one common instrument because A, B and C are not co-owners

96 I The pledge extends to the interest and earnings of the thing pledged unless there is a stipulation to the contrary

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II In case of pledge of animals, their offsprings shall be subject to the pledge if there is a stipulation to that effect.

97 If there are reasonable grounds to fear the destruction or impairment of the thing pledged without the fault of the pledge: First statement is true, second statement is false

I The right of the pledgor to demand the return of the thing, upon offering another thing in pledge, provided the latter is of the same kind as the former and not of inferior quality must always be respected

II The right of the pledge to cause the thing pledged to be sold at a public sale is subordinate

to the above right of the pledgor

98 I The creditor pledge cannot appropriate the thing pledged

II But he can dispose of the thing pledged with the consent of the pledgor

99 I A mortgage or pledge is indivisible although the principal obligation is divisible

II The principal obligation must be necessarily indivisible because the mortgage or pledge securing is indivisible

100 A borrows P10,000 from B, so A delivered his diamond ring to B as a pledge to secure his obligation The contract of pledge was executed in a public document but the description of the ring and the date of the pledge did not appear thereon A, pledgor alienates the ring in favor of C

I C has to respect the pledge because the contract of pledge is in a public document

II C has to respect the pledge if the alienation of the pledged was consented to by the pledge

101.I A stipulation in a contract of pledge allowing the pledge to purchase the thing pledged at the current purchase price if the debt is not paid on time is valid

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II A stipulation in a contract of pledge allowing the pledgor to assign the thing pledged to the pledge in payment of the debt due is not paid on time is valid.

102.I Future property cannot be the object of a pledge or mortgage unless there is a stipulation

to the contrary

II Future property cannot be the object of a pledge or mortgage unless there is a stipulation

to the contrary

103.I Two things are prohibited in a pledge or mortgage, which are: (a) the appropriation by the pledge or mortgagee of the object of the pledge or mortgage and (b) the disposition of the object by the pledgor or mortgagor

II Two things are prohibited in a pledge or mortgage, which are: (a) the disposition of the object by the pledgee or mortgagee and (b) the return of the pledge or mortgage to the pledgor or mortgagor before debt is fully paid

104.A, minor borrows P10,000 from B To secure A’s debt, X a good friend of A pledges his gold watch to B

I The pledge is not valid because the principal obligation is not valid

II The pledge is not valid, the thing pledged should belong to the debtor

105.I In mortgage and chattel mortgage there is recovery of deficiency as a general rule

II In pledge, absolutely, there is no recovery of deficiency

106.A and B are co-owners of a piece of land They mortgaged their land in favor of C While the mortgage debt is pending, A and B partitioned the land between them On due date, A paid his share of the debt of C

I The mortgage on A’s share of the land is extinguished

II The mortgage on A’s share cannot be extinguished unless B pays his share of debt

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A First statement is true, second statement is false.

107 I Unless there is stipulation to the contrary, the debtor mortgagor can alienate the property mortgage

II The debtor mortgagor can alienate the property mortgaged with the consent of the mortgagee

108 A, minor borrows money from B The contract although voidable is secured by a pledge or mortgage of A’s property

I A can validly constitute a pledge or mortgage of his personal or real property

II The pledge or mortgage constituted by a minor is valid provided he is the absolute owner

of the property pledged or mortgaged

109.A, agent is authorized by Principal to lend money of the principal

I A, the agent can borrow the money provided the loan is without interest

II A, the agent cannot borrow the money if the loan is with interest

110.I Agency is a nominate, principal, unilateral, preparatory, commutative and generally onerous contract

II Agency is a nominate, accessory, bilateral, preparatory, commutative and generally onerous contract

111 I A general power of authority may also include a special power

II A special power of authority does not include a general power

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