Elect 2- 1st exam

Question 1

By the contract of sale one of the contracting parties obligates himself to transfer the ownership and to deliver a determinate thing, and the other to pay therefor a price certain in money or its equivalent.(1458)

Answer 1

Contract of sale

Question 2

of the delivery is to transfer of ownership

Answer 2

Purpose

Question 3

as a rule is by mere consent, since there exists a contract of sale the moment the parties “obligate” themselves

Answer 3

Perfection

Question 4

determinate thing

Answer 4

subject matter

Question 5

since both parties have their respective obligations.

Answer 5

Bilateral Contract

Question 6

Onerous, since the cause or consideration of the parties is the prestation or promise of the other

Answer 6

Cause

Question 7

not only because there’s a specific designation of the contract, but more so because there are specific rules provided by law to govern the rights and obligations of the parties, after stipulations

Answer 7

Nominate Contract

Question 8

In the sense that there is equivalence in the prestation of the parties. Ordinarily, price reflects the value of the property, since the seller would not normally accept a price below the value of the property and the buyer would not
normally pay an amount more than the value of the property.

Answer 8

Commutative

Question 9

there is also a sale of hope where there is no equivalence in the value of prestations. Since the obligation of the
other party is not certain to arise. E.g., lotto. (Art. 1461)

Answer 9

Aleatory

Question 10

A contract for the delivery at a certain price of an article which the vendor in the ordinary course of his business
manufactures or procures for the general market, whether the same is on hand at the time or not.

Answer 10

SALE

Question 11

if the goods are to be manufactured specially for the customer and upon his
special order, and not for the general market.

Answer 11

CONTRACT FOR A PIECE OF WORK

Question 12

If the consideration of the contract consists partly in money, and partly in another thing, the transaction shall be
characterized by the manifest intention of the parties. Art. 1468.

Answer 12

BARTER

Question 13

Art. 1466. In construing a contract containing provisions characteristic of both the contract of sale and of the contract of
agency to sell, the essential clauses of the whole instrument shall be considered.

Answer 13

Contract of agency to sell

Question 14

ownership transfers upon delivery, actual or constructive, even if no total payment of the price has been
made yet.

Answer 14

absolute sale,

Question 15

is the kind of contract of sale where ownership automatically transfers to the buyer upon fulfillment of
the condition, which is usually the full payment of the price, without need of a new agreement or to execute a new contract.

Answer 15

conditional sale

Question 16

is a special kind of conditional sale where ownership does not automatically pass upon fulfillment of the
condition. It will only give the buyer the right to demand the execution of a deed of sale or to compel the seller to sell.

Answer 16

Contract to sell

Question 17

those which are deemed part of the contract even if not stipulated or even if the parties are unaware. Deemed
part of the contract by law. E.g., warranties.

Answer 17

Natural

Question 18

present only because the parties so stipulated. E.g. obligation to pay interest

Answer 18

Accidental

Question 19

required for validity.

Answer 19

Essential

Question 20

of the contracting parties, i.e., the buyer and the seller.

Answer 20

Consent

Question 21

consent may have been given, but the one giving it is incapacitated.

Answer 21

Incapacity

Question 22

the party cannot give consent to any and all contract, which may result in the contract being voidable
or void.

Answer 22

Absolute Incapacity

Question 23

may enter into a valid contract of sale of “necessaries” as provided under
Art. 1489. Necessaries are those which are indispensable for sustenance, dwelling, clothing and medical attendance.

Answer 23

Minors and those without capacity to act.

Question 24

the party is prohibited from entering some specific transactions with some persons and sometimes
over specific things

Answer 24

Relative Incapacity

Question 25

Where the price cannot be determined in accordance with the preceding rules, or in any other manner

Answer 25

the contract is
inefficacious.

Question 26

is perfected when the auctioneer announces its perfection by the fall of the hammer, or in other
customary manner.

Answer 26

Sale by Auction

Question 27

A promise to buy and sell a determinate thing for a price certain is reciprocally demandable.

Answer 27

Option Agreement and Contract

Question 28

forms part of the purchase price and is proof of perfection of a contract of sale.

Answer 28

Earnest money