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RFBT > Law on Sales > Flashcards

Law on Sales Flashcards

1
Q

How is a contract of sale perfected

A

consent,
the sale of land and sale of personal property worth more than 500 is merely for enforceability

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2
Q

There is equivalents in the prestation of the parties

A

commutative; antonym: aleatory

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3
Q

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

A

contract for a piece of work

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4
Q

The massachusetts rule covers contract for a piece of work

A

yes

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5
Q

What is the subject of a contract for a piece of work

A

service

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6
Q

Is there a transfer of ownership in cession

A

no, only given for the purpose of selling

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7
Q

If the value of the thing is equal to the money or its equivalent, the presumed to be a

A

contract of sale

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8
Q

What is the governing law on contract of cession

A

fria

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9
Q

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

A

absolute sale; assumption when silent

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10
Q

Which among contract of sale and contract to sell is resolutory

A

contract of sale

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11
Q

The rules on double sale applies to contract of sale or contract to sell?

A

Contract of sale

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12
Q

It only gives the buyer the right to demand the execution of a deed of sale or to compel the seller to sell. Ownership transfers only upon execution of the deed of sale or some other mode of delivery

A

contract to sell

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13
Q

A contract of sale which or the import of the contract even if not a stipulated or even if the parties or unaware

A

natural, warranties for example

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14
Q

When can minors and those without in capacity to act can enter validly into a contract of sale

A

contract of sale of necessaries

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15
Q

In case of purchase of a guardian, agent or executor and administrators, the injured party may be barred from declaration of nullity by

A

estoppel

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16
Q

Can estoppel run against the government

A

no, hence the purchase of public officers and employees or administrators of justice can be annulled by declaration of nullity

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17
Q

Are aliens absolutely banned from acquiring lands in the philippines

A

no, in cases of succession or in case of a former natural born filipino citizen who has lost his citizenship

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18
Q

If the determination of the price is left to the judgment of a special person and such person is unable or unwilling to fix it, the contract will be

A

inefficacious; declaration of nullity

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19
Q

Can service be a valid subject of a contract of sale

A

no, since no person acquires ownership of service

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20
Q

The object of contract of sale is said to be determinate when

A

particularly designated or physically segregated

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21
Q

The requisite that a thing be determinate should be satisfied at

A

the time the contract is entered into

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22
Q

In case of a sale of an undivided share of a specific mass and the mass contains less than the measure bought, who owns the whole mass

A

the buyer, and the seller is bound to make good the deficiency

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23
Q

What if the mass is greater than the measure bought

A

the buyer becomes owner in common

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24
Q

Emptio rae speratae; must come into existence otherwise the sale will be ineffective

A

Sale of a future thing

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25
Q

emptio spei

A

sale of hope; it produces effects even if the thing hoped does not come into existence

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26
Q

When is ownership transferred to the buyer

A

delivery; except if parties agree. Ownership will not pass until a condition is fulfilled

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27
Q

How is a sale by auction perfected

A

fall of the hammer or in other customary manner

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28
Q

Can the bidder or the auctioneer withdrawal before the perfection of sale

A

yes

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29
Q

Persons employed by the seller to bid in his behalf

A

by bidders or puffers

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30
Q

When can a seller participate in the bidding

A

expressly reserved

notice was given to the bidders and

not prohibited by law or stipulation like litigation

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31
Q

An accepted unilateral promise to buy or to sell a determinate thing for a price certain is binding upon the promissor if

A

supported by a consideration distinct from the price known as the option bond

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32
Q

What is the treatment of a bilateral promise to buy or sell

A

perfected contract of sale

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33
Q

It is the term for the unilateral promise to buy or sell which has not been accepted

A

policitacion

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34
Q

A money which forms part of the purchase price and its proof of perfection of a contract of sale

A

earnest money

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35
Q

What is the remedy of the buyer if the bulk of the goods delivered to not correspond with the description or the sample

A

rescission

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36
Q

This law applies to a contract of sale of personal property the price of which is payable in installments

A

recto law

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37
Q

The recto law applies to sales on credit

A

no, applies to installment Or finance lease only

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38
Q

What is the remedy of the seller should the vendee fail to pay a single or to installment or periodic rental

A

exact fulfillment

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39
Q

Should the buyer fail to pay two or more installments, what are the remedies of the seller

A

cancel the sale with a right to recover deficiency (restitution) or

foreclose the chattel mortgage on the thing sold if one has been constituted without the right to recover deficiency; contrary stipulation shall be null and void

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40
Q

In case of cancellation of installment sales under the recto law, the seller is only allowed to retain all the amount paid if

A

there is a forfeiture clause; however, the seller is allowed to retain a reasonable amount of the purchase price already paid

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41
Q

If another security or a mortgage on a different property is foreclosed in order to satisfy obligations in an installment sale, can the seller collect deficiency

A

yes, this falls under the remedy of exact fulfillment

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42
Q

This law applies to a contract of sale of residential realty on installments where the buyer is given protection in case of failure to pay installments

A

Maceda Law

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43
Q

If installments already paid or less than 2 years equivalent, the grace period to pay without interest

A

within 60 days; can only be applied once every 5 years

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44
Q

Aside from the grace period, what are the rights of the buyer if installments already paid or less than 2 years equivalent

A

the buyer may sell or assign his interest or

pay the entire balance

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45
Q

What are the additional rights of the value if two years of installment has been paid

A

in addition to the 60 days grace period, the buyer shall have additional 1 month grace period for every year of installments after the first two years installment

if the seller rescinded, he is required to first give the cash surrender value to the buyer

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46
Q

How many days of grace period is given to the buyer if the he has already paid four years worth of installment

A

120 days

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47
Q

Cash surrender value for

2 to 5 years of installment

6 years

7 years

A

50% of all payments including the down payment

55%

60%

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48
Q

The limit of cash surrender value

A

90% or 14 years of installment

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49
Q

Payment included in the computation of the years of installment period?

A

No

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50
Q

Is a stipulation as to interest or damages or penalty during a grace period valid

what about forfeiture clause

automatic cancellation

A

no, it will defeat the purpose of having a grace period

no, csv

no

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51
Q

maceda law

the rescission will take effect only after 30 days from complying with both

A

notice to the buyer of the intention to rescind

payment of cash surrender value

whichever is later

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52
Q

This act covers the sale of condominium units

A

pd number 957 or the subdivision and condominium buyers protective decree

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53
Q

What will happen to the installment payments made by a buyer in a subdivision or condominium project for the lot or unit he contracted to buy after due notice to the owner or developer that the forward desists from further payment due to the failure of the owner or developer to develop the subdivision or condominium according to the approved plans and within the time limit

A

not forfeited, but rather the total amount paid including amortisation interests but excluding delinquency interests with interest thereon at the legal rate

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54
Q

What are the rights of the buyer in the event of his failure to pay the installment due for reasons other than the failure of the owner or developer to develop the project

A

governed by the maceda law

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55
Q

Who shall pay the real property taxes before the transfer of ownership of the condominium to the buyer

A

the developer or the owner without recourse against the buyer

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56
Q

What will be the effect to the contract if the thing is entirely lost pending the delivery

A

ineffective if due to fortuitous event

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57
Q

If the thing is lost import only pending the delivery the buyer may choose between

A

withdrawing from the contract or demanding the remaining port paying its price in proportion to the total sum agreed-upon

same rules in case of deterioration

58
Q

Who shall bear the risk if the delivery of goods has been made to the buyer or to a bailee for the buyer in pursuance of the contract and the ownership in the goods has been retained by the seller merely to secure performance by the power of his obligations

A

buyer

59
Q

Who shall pay the taxes and incidents of the sale

A

the seller unless otherwise agreed upon

60
Q

Between pledge or mortgage and sale, which requires ownership for the validity of the contract

A

pledge or mortgage

61
Q

If the seller is not the owner, does the buyer acquires a better title to the goods than the seller had

A

no as a general rule

62
Q

Determine whether the following sale made by a thief grants the owner a right to recovery with or without reimbursement to the buyer

  1. Directly to the buyer
  2. Public auction
  3. merchants store
  4. Registered land (Torren’s title); forged signature
A

right to recover without reimbursement

right to recover with reimbursement

no right to recover

no right to recover

63
Q

What kind of estoppel

if after the sale, does a record ownership, such ownership automatically passes to the buyer as to the thing already delivered

A

estoppel by deed

64
Q

If the sale is by an apparent owner, can the object be recovered

A

no if the buyer is in good faith and for value

65
Q

Laws from which a parent ownership may be had

A

pd 1529; those dealing with registered land need not inquire beyond the title, also known as the mirror principle; except for banks and public utility companies

factors agent; third persons only have to rely on the power of attorney as written

article 15 18 for goods covered by negotiable instruments

66
Q

At the time of sale, the seller is in possession and remains in possession in another capacity other than an owner

A

constitutum possessorium; sale lease back

67
Q

When the buyer is in possession of the thing other than an owner at the time of sale and remains in possession after same now as an owner

A

brevi manu

68
Q

Delivery of key to a warehouse where the goods or located and delivery of the key of the object itself like a house

A

symbolic; actual

69
Q

Where is the place of delivery when there is no stipulation to such

A

usage of trade

seller’s place of business

seller’s residence

where the contract is constituted

70
Q

What are the remedies of the buyer when the delivery of a personal property is less than the quantity of agreed-upon

A

reject the delivery or

accept or retain the goods delivered and pay the full contract price if he knew that the seller is not going to perform the contract in full or pay the fair value of the goods delivered if without such knowledge

71
Q

What are the remedies of the buyer if the delivery of a personal property is greater than the quantity agreed-upon

A

accept the goods in the quantity agreed upon and reject the rest or

accept the whole goods delivered and pay at contract rate

72
Q

What is the remedy of the buyer if the delivery personal goods or mixed with goods of different description not included in the contract

A

the buyer may accept those which are in accordance with the contract and reject the rest

73
Q

If the delivered quantity of personal property is greater than the quantity or mixed with different description, what is the remedy of the buyer

A

the body reject the whole of the goods

74
Q

Real estate is sold at a rate of a certain price for unit of measure; delivery is less than; what are the remedies of the buyer

A

specific performance and demand delivery of the shortage

proportionate reduction of price or accion quanti minoris

mission if the area is lacking of 1/10 or the buyer would not have entered

75
Q

Real estate is sold at a rate of a certain price for unit of measure; delivery is more than; what are the remedies of the buyer

A

accept and reject

accept the whole and pay at contract rate

76
Q

Whatever is the actual area of the land, the binary system required to pay the price agreed upon and the center is found to deliver the entire area

A

sale of real estate at a lump-sum price

77
Q

Sale of real estate at lump-sum; the actual area is bigger; the seller does not deliver the whole actual area; what are the remedies of the buyer

A

reduce the price in proportion to what is lacking in the area or number

rescind the contract

78
Q

The right of an unpaid seller to retain the goods or right to withhold delivery of goods

A

possessory lien

79
Q

What are the grounds for possessory lien (CCeI)

A

sold without any stipulation as to credit

sold on credit but the term of credit has expired

the buyer becomes insolvent

80
Q

Does the unpaid seller lose his right by reason only that he has obtained judgment or decree for the price of the goods

A

no

81
Q

The right of an unpaid seller to stop the goods while in transit

A

stoppage in transitu

82
Q

If the goods or rejected by the buyer and the carrier continues in possession of them even if the seller has refused to receive them back, the goods are said to be

A

in transit

83
Q

If the carrier or other bailee wrongfully refuses to deliver the goods to the buyer or his agent in that behalf, the goods are

A

no longer in transit

84
Q

Who should bear the expenses when the right of stoppage in transit is exercised

A

the seller

85
Q

Grounds for a right of resale to be exercised PRdDut

A

perishable

reserve the right of resale in case of default

default for an unreasonable period of time

86
Q

Should the unpaid seller have a right of lien or stoppage in transit to first to be able to exercise the right of resale

A

yes

87
Q

Is notice to the buyer necessary for the validity of rescission

A

no, but it shall be relevant in determining whether the buyer has been in default

88
Q

The grounds for the right of rescission to be exercised RDut

A

reserve the right

default for an unreasonable period of time

89
Q

The insolvency of the buyer is a requisite only for the right of ___________ but not in all other rights

A

right of stoppage in transit to; it is a ground to exercise possessory lien but not a requisite

90
Q

Who has a better right over a movable property which was sold two two or more buyers

A

first to take possession in good faith

91
Q

Who has a better right over an immovable property which was sold to two or more buyers

A
  1. The first to register in good faith
  2. The first to take possession in good faith
  3. the one with the oldest title

one and two, if the property is titled

3 is whether titled or not

92
Q

Good faith pertains to the time of

A

registration or possession and not a time of perfection of sale; as such, if at the time of the second sale, the buyer had no knowledge of the prior sale, but learns of it prior to registration or possession, he will not be considered a registrant or possessor in good faith

93
Q

Any affirmation of fact or any promise by the seller relating to the thing to induce the buyer to purchase the same

A

warranty

94
Q

Implied warranties or for a period of

A

60 days to 1 year

95
Q

The seller has a right to sell the thing at the time when ownership is to pass and the buyer shell from the time have and enjoy legal and peaceful possession of the thing

A

warranty against eviction

96
Q

Can a warranty against eviction be waived by the seller

A

yes if in good faith

97
Q

Will the vendor be liable for eviction if the adverse possession had been commenced before the sale but the prescriptive period is completed after the transfer

A

no

98
Q

If the seller is in bad faith what are his liabilities (VICED)

A

value of the thing

income or fruits

costs of the suit

expenses of the contract

damages

a stipulation exempting a vendor for such obligation shall be void

99
Q

If the vendor is in good faith but no waiver was executed by the buyer, what is the liability of the seller

A

VICE; no damages

100
Q

If the seller is in good faith and a waiver is executed by the buyer what is the liability of the seller

A

if the buyer is not aware of the risk (consciente), the seller shall only be liable for the value of the thing

if the buyer is aware of the risk (intencionada), the seller is no longer liable for anything

101
Q

Is there a warranty as to its fitness for any particular purpose in the case of contract of sale of a specified on article under its patent or other trade name

A

none unless there is a stipulation to the contrary

102
Q

Is not aware of the hidden defects, will he be liable

A

yes unless there is a contrary stipulation

103
Q

What are the remedies of the buyer in case of hidden defects

A

withdraw from the contract plus damages (restitution)

proportionate reduction of the price damages

104
Q

What are the liabilities of the cellar if the loss of the thing with hidden defect is caused by the defect itself (PIED)

A

price

expenses of the contract

interest if in good faith

damages if in bad faith

105
Q

If the thing with hidden defects is lost through a fortuitous event or through the fault of the buyer, what is the liability of the seller

A

refund the price less the value of the thing at the time of loss

plas damages if he was aware

106
Q

The prescriptive period of the remedy in case of hidden defects is

A

6 months from delivery

107
Q

The redhibitory the effect of one shall only give rise to its redhibition and not of the others except if the vendee would not have purchased

A

yes

108
Q

This or the sales without implied warranty against hidden defects

A

second hand

junk shop

auction

109
Q

The sale of animals suffering contagious disease or animals unfit for purpose intended are

A

void

110
Q

The buyer may examine the goods except when

A

stipulated

no delivery until payment

cash on delivery

111
Q

Prescriptive period of the rights of actions of a buyer of animals with redhibitory defects

A

40 days

112
Q

What are the remedies of the buyer in case of non apparent encumbrances

rescission

damages

A

1 year prescriptive period from execution of the deed and from discovery

113
Q

Is the buyer required to return the thing if the refusal of acceptance of the buyer is justified

A

no

114
Q

The implied warranties or not applicable to

A

sheriff, auctioneer, mortgagee, pledgee or other persons professing to cell by virtue of authority in fact or law

115
Q

When shall a buyer be liable to pay interest

A

between delivery to payment

116
Q

When can a buyer suspend payments

A

when disturbed in the possession or ownership of the thing or reasonable grounds to fear such disturbance until such disturbance or danger ceases

unless the seller gives security; when is stipulated; or merely an act of trespass

117
Q

When can a vendor exercise rescission

A

unpaid seller

subject is immovable property

reasonable fear of loss of the property

118
Q

Notice to the seller is necessary for him to be liable for breach of contract

A

yes

119
Q

It shall take place when the vendor reserves the right to repurchase the thing, with the obligation to return the price, expenses related thereto and useful and necessary expenses and other stipulations which may have agreed upon

A

conventional redemption or pacto de retro sale

120
Q

If a buyer subsequently of course the whole undivided immovable property, can he compel the seller to redeem the whole property if the latter exercises the right of redemption

A

yes

121
Q

Is conventional redemption subject to a suspensive condition

A

no, resolutory condition

122
Q

Prescriptive period for the exercise of conventional redemption

A

4 years if no stipulation

up to 10 years if stipulated

30 days from the final judgement was rendered in a civil action on the basis that the contract was a true sale with right to purchase

123
Q

If a purchaser paid for the fruits existing at the time of sale and there were fruits as well at the time of redemption, is he entitled to reimbursement or prorating of the fruits existing at the time of redemption

A

yes

124
Q

What is the treatment of the fruits which did not existed at the time of sale what at the time of redemption

A

prorated between the redemption and the buyer

125
Q

A sale with right of repurchase is presumed to be an equitable mortgage in the following cases

  1. When the price of a sale with the right to repurchase is _____________
  2. When the vendor remains in possession as ________
  3. When upon or after the expiration of the right to repurchase a new instrument extending the period of redemption or granting a new period Is executed
  4. When the purchaser _____________ a part of the purchase price
  5. When the vendor binds himself to ____________

where it may be fairly inferred that the real intention of the parties is that the transaction shall secure the payment of a debt or the performance of any other obligation

A

unusually inadequate; lessee; retains for himself; pay the taxes on the thing

126
Q

Through this, it means that the ownership of the buyer becomes absolute and the resolutory condition is removed

A

consolidation of ownership

127
Q

If several persons jointly and in the same contract sell an undivided immovable with a right to repurchase

the seller can redeem _____________

the buyer can ________________

A

only their share

compel redemption of the entire property and cannot be compelled to agree to partial redemption

128
Q

What rule shall apply to coheirs of the seller

A

several persons jointly and in the same contract selling and undivided immovable property

129
Q

The coheirs of the buyer, is it the whole property or each of their own share can be subjected for an action of redemption

A

the action for redemption should be to each for his own share

130
Q

It is the right to be subrogated upon the same terms and conditions stipulated in the contract in the place of one who acquires a thing by purchase or dacion in payment or by any other transactions whereby the ownership is transmitted by onerous title

A

legal redemption

131
Q

These are the persons who can exercise the right of legal redemption

A

co-owners when the property is sold to a third person

owners of adjoining lands

132
Q

What is the subject property in case of a right of legal redemption of a coo-owner

A

movable or immovable property

133
Q

How is the right of redemption exercise should two or more co-owners desire to do so

A

they only do so in proportion to the share they may respectively have

134
Q

How much is the amount to be paid for redemption

A

the purchase price unless grossly excessive

135
Q

The subject of a legal redemption in case of owners of adjoining rural land is

A

a rural land which does not exceed one hectare which is not separated by groups and other apparent servitude

136
Q

In case two or more adjoining owners of a rural and desire to exercise the right of redemption at the same time who shall be preferred

A

smaller area

first requested

137
Q

Who has a better right between a co-owner and an adjoining rural lot owner

A

co-owner

138
Q

What are the requisites in case of redemption and preemption of sale of urban land

A

area of the land is so small and therefore can not be used for any practical purpose having been bought merely for speculation

139
Q

Who is preferred in case multiple persons exercises the right of redemption or preemption

A

intended use is best justified

140
Q

Are you to exercise legal right of redemption

A

30 days from notice in writing by the prospective vendor or by the vendor

the deed shall not be recorded in the registry of property unless accompanied by an affidavit of the vendor that he has given written notice thereof to all redemptioners

RFBT (29 decks)

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