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MULTIPLE CHOICE

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

c. Only first statement is true

b. Both statements are false

d. Only second statement is true

2. One of the following is not a remedy granted to an unpaid seller:


a. Right of stoppage of goods in transit
b. Right of lien over the goods
c. Right to resale
d. Right to demand a security for the payment of the price
3. 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
4. Julie is a lessee of a store in a shopping mall. She orally sells/assigns his right to Sallie. She
then allows Sallie to occupy the stall. The delivery here is called
a. Quasi-tradition

c. Traditio longa manu

b. Actual delivery

d. Traditio brevi manu

5. Which of the following statement is incorrect?


a. A stipulation that even when the object is delivered to the buyer, ownership will
not pass until the price is fully paid is not valid.
b. A sale is consummated upon the delivery of the thing and the payment of the purchase
price.
c. Sales through letters or telegrams are deemed perfected only when the acceptance by
the buyer has been received by the seller.

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:

a. constructive delivery by legal formalities


b. symbolic delivery by tradition clavium
c. traditio longa manu
d. traditio brevi manu
10. Santos sold his Toyota pick-up to Razon for P500,000. No date was fixed for the
performance of the obligation by the seller and the buyer. The obligation of the seller is:
a. To rescind the sale because there is no time fixed for the performance of the seller and
the buyer.
b. To deliver the pick-up only after the buyer writes the seller demanding the delivery of
the pick-up.
c. To deliver the pick-up after the buyer pays the P250,000.
d. To deliver the pick-up immediately because the sale is already perfected contract.
11. Which of the following statement is common to both sale or return and sale on trial?
a. Ownership of the thing is transferred upon the delivery to the buyer.
b. Ownership of the thing is transferred to the buyer at some future time.
c. Ownership of the thing may be reverted to the seller should the buyer return it
within the time agreed upon.
d. In case the thing is lost through a fortuitous event after the lapse of the time to keep or
return it and the buyer was still in possession of it, the risk of loss is with the
buyer.
12. Under the Maceda Law, in determining the number of installments paid by the buyer, the
following payments are included except;
a. down payments

c. option money

b. deposits

d. none of the foregoing

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.

b. The contract is valid contract of sale 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 partly a contract of barter and partly a contract of sale.


d. The contract is void because the intention of the parties is void since the value of the
diamond ring is more than the monetary consideration given.
14. In a contract of sale of personal property the price of which is payable in installments, the
vendor may exercise any of the following remedies, except to:
a. Exact fulfillment of the obligation, should the vended fail to pay any number of
installments.
b. Cancel the sales, should the vendees failure to pay cover two or more installments.
c. Foreclose the chattel mortgage on the property if the vendees failure to pay cover
two or more installments and recover any deficiency after the foreclosure sale if
they have stipulated it.
d. Foreclose the chattel mortgage on the property if the vendees failure to pay cover two
or more installments but he may no longer recover any
deficiency after the foreclosure

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.

d. The buyer is or becomes insolvent.


17. On March 1, 2014, S sold and delivered to B a computer set for P30,000.00 on sale or
return giving B up to March 16, 2014 within which to return the computer set. On March 10,
2014, the computer set was burned through no fault of B. Based on the foregoing, which of the
following statement is incorrect?
a. B must pay the price of computer set.
b. B must bear the loss of the computer set.
c. The ownership of the computer set was transferred to B upon delivery to him.
d. S must bear the loss since the time for the return of the computer set had not yet
expired.
18. Solisod sells to Bahala 500 sacks of rice at P1,000.00 per sack from the stock then stored in
the warehouse of Solisod. Unknown to the parties, the warehouse contains only 450 sack of rice.
What is the status of the contract between Solisod and Bahala?
a. The sale is void since the quantity avalaible is less than the quantity sold.
b. The sale is valid up to 450 sacks of rice but void as to the deficiency of 50 sack of rice.
c. The entire sale is valid up to 500 sacks of rice. Bahala becomes the owner of the
whole stock available and Solisod must deliver the deficiency
of 50 sacks of rice.
d. The sale is valid up to 450 sacks of rice but rescissible as to the deficiency of 50 sacks
of rice by reason of damage suffered by Bahala.
19. The Rector Law applies to which of the following examples of sale?
a. Sale of a car on straight term.
b. Sale of house and lot on installment.
c. Sale of car on installment where the buyer constituted a mortgage on his truck.
d. Sale of a piano on installments where the buyer constituted a chattel mortgage on
the piano.
20. Which of the following documents of title requires indorsement and delivery for its
negotiations?
a. A warehouse receipt which states that the goods are to be delivered to bearer.
b. A bill of lading which states that the goods are to be livered to the order of a specified
person but such person indorsed it in blank.

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

b. Both statements are fails

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.