窗体顶端
B imports electric fans from China and specifically asks for 220 volts fans.
The fans arrived duly labeled 220 volts and sell them to the public as such.
Later, it turned out that the fans have been mislabeled by the manufacturer
and were only good for 110 volts.
B is not liable because he was in good faith, and this is shown by specifically asking
for 220 volts.
B is liable to the vendee for any hidden defects in the thing sold, even though he was
not aware thereof.
B is not liable under the principle of “let the buyer beware”.
B is liable because the vendee did not enjoy legal and peaceful possession of the
object of the sale.
If P leads X to believe that A is his (P’s) agent, as a matter of fact such is not
true, and A acts on such misrepresentation, there is
an agency by estoppel
an implied agency
an agency by necessity
an express agency by words spoken
Three of the following must be given by the seller to the buyer if redemption
is to be made.
Expenses of the contract
interest on the price of the sale
price of the sale
necessary expenses on the thing sold
P, the owner of a piece of residential land orally authorized A to sell the land
for P500.00 with 5% commission. Today, A sold the land to C. One day later,
P sold the same land to D. Assuming that both buyers are in good faith, who
is the lawful owner.
C, being the first buyer.
C, because A was given authority by P.
D, because the sale made by A to C is only voidable.
D, because the sale between A and C is void.
S sold to B a specific “fighting cock” by pointing it to B. What kind of delivery
is effected?
brevi manu
quasi traditio
constitutum possessorium
none of the above
In a contract of sale, if the price is absolutely simulated, the sale is
Rescissible
Void
Unenforceable
Voidable
X stole a fountain pen from O and sold it to a Bazaar, who pays for it in good
faith, now knowing that it was stolen. The Bazaar then sold it to B, a student.
Ownership passed to B because he bought it in a merchant store.
The Bazaar having bough it in good faith becomes the legal owners, and as such, he
can transfer ownership to B.
B cannot become the owner because X, the original seller, is not the owner.
O may recover the fountain pen from B without reimbursement because he is the
legal owner.
A appoints B as his agent to sell his land. Which of the following is valid?
The authority of B is in writing but B mortgages it also in writing.
The authority of B from A is by way of letter and B sells the land to C in writing.
The authority of B is in writing but the sale of the land in writing was made beyond
the period expressly set forth by A.
The authority of B is oral and B sells the land to C for P50,000 in a written contract of
sale.
A offered to sell his lot to B for P100,000. In his offer to sell, it was stated
that B 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 the 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?
Yes, because A is already estopped by his signed letter.
No, for B never signified his acceptance of A’s offer.
Yes, because there was actual meeting of minds of the parties.
None of the above.
Real property mortgaged
generally, is not possessed by the creditor
cannot be acquired by the creditor, even if he is in possession for 30 years by
prescription
mortgagee cannot appropriate the property for himself, even if stipulated
all of the above
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
Cancel the sale, should the vendee’s failure to pay any installment.
Exact fulfillment of the obligation, should the vendee fail to pay any installment
Rescind the sale should the vendee fail to pay any installment.
Foreclose the chattel mortgage on the thing sold, if one has been constituted should
the vendee’s failure to pay cover two or more installments
If the price is uncertain,
the transaction is void
the price is to be fixed by the court
the buyer must pay a reasonable price
none of the above
If the agent appoints a substitute against the expressed will of the principal,
and the sub-agent enters into a contract of with third persons, which is
correct?
The acts of the sub-agent are without legal effect as far as the principal is
concerned, hence, considered void or inexistent.
The appointment is valid but the agent is liable for acts of the sub-agent only if the
principal suffers damages.
The appointment is valid but the agent is liable only if the sub-agent is notoriously
incompetent or insolvent.
The agent is not liable at all for the acts of the sub-agent with respect to third
persons who may suffer damages.
D1, D2 and D3 borrowed from C P300,000, and as a security, they
mortgaged their undivided agricultural land to C. Subsequently, D1 paid C
P100,000. Is the mortgage on D1’s share of the land extinguished?
Yes, because the obligation of D1 on the debt is only P100,000.
Yes, the obligation of the debtors is joint, D1 is answerable only for P100,000.
No, because the obligation is solidary, payment in part shall not extinguish the
obligation secured by the mortgage.
No, because mortgages are considered indivisible, payment in part shall not
extinguish the mortgage.
The vendor
is liable to the vendee for hidden fault or defect of the thing sold even if he is not
aware thereof.
is not liable to the vendee for hidden fault or defect of the thing sold if he is not
aware thereof.
is liable to the vendee for hidden fault or defect of the thing sold if he is not aware
thereof if stipulated.
None of the above
Three of the following are implied warranties in a contract of sale. Which is
the exception?
Free from charges or encumbrances not declared or known to the buyer.
Right to sell the thing at the time the contract is perfected.
Merchantible in quality.
Reasonably fit for the purpose they are acquired.
Connie transferred to Violeta a parcel of land for the price of P100,000;
P30,000 to be paid in cash and for the difference, she will convey her car
worth P70,000. What kind of contract is this?
Lease contract
obligation to sell
contract of sale
barter
Warranty against hidden defects is
a natural element
an artificial element
an accidental element
an essential element
Effect of sale on the thing pledged if it is less than the principal obligation:
creditor cannot recover the deficiency
creditor can recover the deficiency.
creditor cannot recover the deficiency even if there is stipulation
Creditor can recover the deficiency if there is stipulation
none of the above
Where it is stipulated that the repurchase of the property sold could be made
at any time, the repurchase shall be exercised.
within 4 years from the date of the contract.
within 10 years from the date of the contract
after 10 years from the date of the contract
none of them
In real estate mortgage, the mortgagor can sell the mortgaged property:
with the consent of the mortgagee in writing.
even without the consent of the mortgagee
only with the consent of the mortgagee in writing or orally
none of the above
The principal is not liable for the expenses incurred by the agent.
If the agent acted in contravention of the principal’s instruction.
Expenses were due to the fault of the agent.
Agent incurred them knowing that an unfavorable result would ensue, and the
principal was not aware thereof.
All of the above.
The unpaid seller is not entitled to retain possession of the goods where
the goods have been sold without any stipulation as to credit.
The goods have been sold on credit, but the term of credit has expired.
The buyer is insolvent.
The possession of the seller on the goods is only as an agent or bailee for the buyer.
None of the above
A borrowed from B P50,000. A offered his specific ring by way of pledge. It
was expressly stipulated that upon non-payment of the debt on time, the ring
would belong to B. This forfeiture clause, which ahs traditionally not been
allowed is called a –
dacion en pago
caveat emptor
pacto de retro
pactum commissorium
S, 16 years old, sold to B, of legal age, a specific diamond ring for P10,000.
Later, B sold it to X. Which of the following statements is incorrect?
S has a voidable title because at the time of sale, he is a minor.
X, if in good faith, shall become the owner upon delivery to him.
X, if in bad faith, shall also be the owner, except that his title is voidable.
None of the above.
The right of the seller to stop goods in transit, upon discovering that the
buyer does not have the funds to pay for the goods.
Voting right
Right of stoppage in transitu
Pre-emptive right
Appraisal right
Real estate mortgage
is inseparable because the mortgage directly and immediately subjects the property
upon which it is imposed, whoever the possessor may be, to the fulfillment of the
obligation for whose security it was mortgaged.
entitles the mortgagee to the fruits of the thing mortgaged.
has for its object movable as well as immovables.
is perfected the moment the contract is registered with the Registry of Property.
The redhibitory action based on the faults or defects of animals must be
brought within
6 months from delivery to the vendee
30 days from the delivery to the vendee
45 days from delivery to the vendee
40 days from delivery to the vendee
Which of the following statements is true and correct?
Where an obligation is secured by a pledge or mortgage and it is not paid when due,
the pledge or mortgagee may appropriate the thing pledged or mortgaged if there is
an agreement to that effect between the parties.
Unless otherwise agreed upon by the parties, the sale of the mortgaged property
extinguished in full the obligation of the mortgagor to the mortgagee.
In both pledge and mortgage, the creditor is entitled to deficiency judgment.
Pledge and mortgage are accessory contracts because they can not exist by
themselves.
Three of the following requires a special power of attorney, which is the
exception?
Accept inheritance
To waive obligation gratuitously
To bind the principal in a contract of partnership
None of the above
A, B and C are co-owners of an undivided parcel of land. B sold his 1/3
interest to C absolutely. Which is correct?
A may exercise his right of redemption on the interest sold by B to C.
A may redeem only ½ of the interest sold by B to C.
A cannot exercise the right of redemption because the sale was made in favor of a
co-owner.
The sale made by B to C is void because it was not made in favor of a stranger.
G, guardian of W, sold W’s house and lot worth P480,000 for P240,000.
The contract cannot be rescinded because there is no fraud, mistake or undue
influence.
The contract cannot be rescinded because all the essential elements of the contract
are present.
The contract cannot be rescinded but can be annulled on the ground of minority of
the ward.
The contract can be rescinded because of inadequacy of price.
Which of the following transactions involving the properties of the principal is
valid if made by an agent even if the agent’s authority is not in writing?
P authorizing his agent to sell his house located in the land belonging to X.
P authorizing his agent to sell P’s leasehold right in the land owned by X.
P authorizing his agent to sell his specific house and lot.
P authorizing his agent to assign P’s real estate mortgage right constituted over the
land belonging to X.
P appointed A as his agent to borrow P10,000 from C. A borrowed P10,000
but acted in his name. Upon maturity, who is liable?
A only
P only
Both A and P
Contract is void
On June 10, 2006, S sold to B a specific car which S acquired from a friend
last June 1, 2006. On August 10, 2006, the car was totally destroyed which
was traced to a crack in the engine block. S was not aware of the defect. Is
S, the seller, liable to B?
No, because S was innocent and a seller in good faith.
No. because S has all the opportunity to examine the car before buying it.
Yes, S is liable to return the price and expenses incurred by B.
Yes, S is liable to return the price, expenses and damages actually suffered by B.
B went to a store and offered to buy a certain watch for P1,000. S said that
he is willing to give it for P1,200. B turned to go away because he did not
want to pay the price. S called him (B) and said he was willing to sell the
watch for P1,000. Is the contract perfected?
Yes, because the consent was already manifested at the time of the offer.
Yes, because B’s acceptance is not qualified.
Yes, because there was a meeting of the minds between S and B.
No, S made another offer not accepted by B.
An agent with general powers of administration given to him by the principal
in writing, desirous of improving the financial condition of his principal, sold
two parcels of rice fields, one for less than the price appearing in the
inventory prepared by the principal, and the other for double the price that
appeared in the said inventory.
The sale for double the price appearing in the inventory is binding upon the principal.
The two contracts cannot be enforced against the principal.
The sale for less than the price appearing in the inventory is binding upon the
principal.
Both contracts are binding upon the principal.
None of the above.
In three of the following, a special power of attorney is required. Which one
is considered the exception?
to obligate the principal as guarantor
to borrow money not necessary for the preservation of the property under
administration
to effect novations which put an end to obligation already contracted before the
agency
to lease real property to another person for one year.
Three of the following are modes of extinguishing an agency. Which is the
exception?
Death of the principal, but the agency is for the interest of the principal and agent.
Accomplishment of the agency
Dissolution of the firm or corporation which entrusted or accepted the agency.
Insanity of the principal or agent
S sold to B a specific car for P20,000 payable in four equal installment. S
delivered the car to B but required B to mortgage it back to S to answer for
the unpaid installments. B paid the 1st installment, but the last three he
failed to pay. S foreclosed the mortgage property and sold it to a public
auction for P13,000.
S can recover from B the balance of P2,000.
S can recover from B the balance of P2,000 if there is stipulation to that effect.
S cannot recover the deficiency any more even if there is a stipulation to that effect.
None of the above.
Ownership of incorporeal property is transferred to the buyer:
Execution of the sale in a public instrument.
Placing the titles of ownership in the possession of the buyer.
Use of the buyer of his right, with the seller’s consent.
All of the above.
The following are the alternative remedies, except one available to the buyer
in case of breach of warranty by the seller.
Rescind the sale and retain the goods.
Refuse to accept the goods and ask for damages.
Keep the goods and ask for damages.
Keep the goods and set up against the seller by way of recoupment in price.
D pledged his ring to C for P10,000. D failed to pay his obligation on time. C
sold it at a public auction for P8,000.
C cannot recover the deficiency
C can recover the deficiency
C can recover the deficiency even without stipulation
C cannot recover the deficiency even if there is stipulation
