1.
One of the contracting parties obligates himself to transfer the ownership of, and to deliver,
a determinate thing, and the other to pay therefor a price certain in money or its equivalent.
a. Barter c. Partnership
b. Sales d. Agency
2. Statement I. A contract of sale is a consensual contract, thus, is perfected by delivery.
Statement II. A contract of sale is perfected by the meeting of the offer and the acceptance
upon the thing and the cause which are to constitute the contract.
a. Only Statement I is true. c. Both statements are true.
b. Only Statement II is true. d. Both statements are false.
3. S sold his only cat to B. Before delivery and payment, the cat gave birth to a kitten.
a. B should pay the fair market value of the kitten.
b. S is entitled to the fruit as he is the owner.
c. B is entitled to the kitten which was born after the perfection of the sale.
d. S is entitled to the fruit because it was born before delivery.
4. The essential elements of a contract of sale are, except:
a. Consent or meeting of the minds
b. Determinate subject matter
c. Written contract
d. Price certain in money or its equivalent
5. Statement I. Sale by itself does not transfer or affect ownership; the most that sale does is
to create the obligation to transfer ownership.
Statement II. The perfection of a contract of sale should not, however, be confused with its
consummation. In relation to the acquisition and transfer of ownership, it should be noted that
sale is not a mode, but merely a title.
a. Only Statement I is true. c. Both statements are true.
b. Only Statement II is true. d. Both statements are false.
6. Statement I. A contract to sell may not be considered as a contract of sale because the
second essential element is lacking.
Statement II. In contract to sell, what the seller agrees or obliges himself to do is to fulfill his
promise to sell the subject property when the entire amount of the purchase price is delivered
to him.
a. Only Statement I is true. c. Both statements are true.
b. Only Statement II is true. d. Both statements are false.
7. Is manifested by the meeting of the offer and the acceptance upon the thing and the
cause which are to constitute the agreement.
a. Determinate subject matter.
b. Consent
c. Policitacion
d. Price certain in money or its equivalent
8. Statement I. The object of every contract must be determinate as to its kind.
Statement II. The fact that the quantity in contract of sale is not determinate shall not be an
obstacle to the existence of the contract, provided it is possible to determine the same, without
the need of a new contract between the parties.
a. Only Statement I is true.
c. Both statements are true.
b. Only Statement II is true
d. Both statements are false
9. Statement I. In general, the object is the why of the contract or the essential reason which
moves the contracting parties to enter into the contract.
Statement II. For the cause to be valid, it must be lawful such that it is not contrary to law,
morals, good customs, public order or public policy.
a. Only Statement I is true. c. Both statements are true.
b. Only Statement II is true. d. Both statements are false.
10. Statement I. A contract of sale is classified as a consensual contract, which means that the
sale is perfected by mere consent. A private instrument is required for its validity.
Statement II. A contract of sale is normally commutative but not onerous.
a. Only Statement I is true.
c. Both statements are true.
b. Only Statement II is true.
d. Both statements are false.
11. It is also sometimes called an “unaccepted offer”. Policitation
a. Option c. Absolute
b. Earnest d. Conditional
12. It is not a sale of property but a sale of the right to purchase.
a. Option
b. Earnest
c. Absolute
d. Conditional
13. It shall be
considered as
part of the price
and as proof of
the perfection of
the contract.
a. Option money c. Downpayment
b. Initial payment d. Earnest money
14. It constitutes an advance payment and must, therefore, be deducted from the total price.
a. Option money c. Downpayment
b. Initial payment d. Earnest money
15. A special mode of payment where the debtor offers another thing to the creditor who
accepts it as equivalent of payment of an outstanding debt.
a. Application of payment
b. Cession in payment
c. Dation in payment
d. Tender of payment and consignation
