Law on Sales (Resa) Flashcards
First Statement: Sale is not a mode of acquiring ownership. Second Statement: Delivery is the operative mode that transfers ownership.
A. Only the first statement is true.
B. Only the second statement is true.
C. Both statements are true.
D. None of the statements is true.
C
A deed of sale where the stated consideration had not in fact been paid is:
A. Valid
B. Unenforceable
C. Voidable
D. Null and void
D
The characteristics of a contract of sale are: (1) consensual, (2) bilateral, (3) onerous, (4) principal, and (5) nominate.
A. All of the five
B. 1, 2, 3, and 4 only
C. 1,2, 3, and 5 only
D. 1, 3, 4, and 5 only
A
The incapacity of minors, demented persons, imbeciles, deaf and dumb, prodigals and civil interdictees in entering into contracts of sale is:
A. Relative
B. Absolute
C. Partial
D. Total
B
If the property regime between husband and wife is the regime of separation of property, a sale by one spouse to another is:
A . Valid
B. Unenforceable
C. Void
D. Voidable
A
A contract of sale between husband and wife entered into after a judicial separation of properties has been decreed is:
A. Valid
B. Unenforceable
C. Void
D. Voidable
A
A guardian cannot acquire even at a public auction, either in person or through the mediation of another which property?
A. Property whose administration or sale may have been entrusted to them, unless the consent of the principal has been given
B. Property of his ward
С. Property of the estate under administration
D. Property of the government, its political subdivisions or GOCCs entrusted to him
B
An executor or administrator cannot acquire even at a public auction, either in person or through the mediation of another which property?
A. Property of the government, its political subdivisions or GOCCs entrusted to him
B. Property of his ward
C. Property of the estate under administration
D. Property whose administration or sale may have been entrusted to them, unless the consent of the principal has been given
C
A judge, justice, prosecuting attorney, or clerk of court cannot acquire even at a public auction, either in person or through the mediation of another which property?
А. Property of the government, its political subdivisions or GOCCs entrusted to him
B. Property in custodia legis
C. Property of his ward
D. Property whose administration or sale may have been entrusted to them, unless the consent of the principal has been given
B
For a thing to be a valid subject matter, it has to be:
A. Determinate or determinable, illicit and possible
В. Determinate or determinable, illicit and impossible
C. Determinate or determinable, licit and possibie
D. Indeterminate, licit and not impossible
C
For a right to be a valid subject matter, it must be:
A. Transmissible
В. Intransmissible
C. Encumbered
D. Levied upon
A
If there is mere inadequacy of the price, the contract is:
A. Void
B. Voidable
C. Valid
D. Unenforceable
C
In a contract of sale, mere inadequacy of the price or alleged hardness of the bargain generally does not affect its validity when both parties are in a position to form an independent judgment concerning the transaction.
If the parties really intended a donation or some other act or contract, the contract of sale is:
A. Void
B. Voidable
C. Unenforceable
D. Void
D
A void contract is one that is legally ineffective from the beginning. In this scenario, if the parties meant to give a gift (donation) and the transaction was presented as a sale, the contract would be void because the essential element of a sale (payment for goods) is not intended.
Where the price of the thing sold cannot be determined and the thing has been delivered to and appropriated by the buyer, how much does the buyer have to pay?
A. Reasonable price
B. Price given by the seller
C. Price given by the buyer
D. Nothing
A
What distinguishes earnest money from option money?
A. If there is earnest money, in case of non-payment, there can be an action for specific performance only; while if there is option money, an action for specific performance or for rescission can be filed by the injured party.
B. The earnest money is a distinct consideration for an option contract; while the option money is part of the purchase price.
C. If there is earnest money, title passes to the buyer upon delivery of the thing sold; while if there is option money, ownership is reserved to the seller and is not to pass until full payment.
D. If there is earnest money, the would-be buyer is not required to buy; while if there is option money, the buyer is not bound to pay the balance.
C
In Philippine law, option money is a distinct consideration given to secure the right to purchase property within a specified period. It’s not part of the purchase price and is generally non-refundable, even if the buyer decides not to proceed with the purchase.
First Statement: If earnest money is paid, there is already a sale perfected.
Second Statement: If option money is paid no sale is perfected yet.
A. Only the first statement is true.
B. Only the second statement is true.
C. Both statements are true.
D. None of the statements is true.
C
The following sales must be in writing to be enforceable: (1) sale of personal property at a price not less than P500, (2) sale of real property or an interest therein, and (3) sale of any property not to be performed within a year from the date thereof.
A. 1 and 2 only
B. 1 and 3 only
C. 2 and 3 only
D. All of the three
D
It refers to an agreement that dominion is reserved in favor of the seller until the full payment of purchase price.
A. Pactum reservati domini
В. Pactum sun servanda
C. Pactum commissorium
D. Pactum leonina
A
“Pactum reservati domini” translates to “agreement to reserve ownership” in Latin, and refers to a legal clause in a sales contract where the seller retains ownership of the goods until the buyer has fully paid the purchase price.
It refers to a delivery where the seller points out to buyer the things which are transferred.
A. Traditio constitutum possessorium
B. Traditio brevi manu
C. Traditio longa manu
D. Traditio symbolica
C
Traditio Longa Manu falls under the category of constructive or legal delivery. It’s considered a valid form of delivery even without physical handover because it clearly demonstrates the intent of transferring ownership through agreement.
It refers to a delivery where the seller continues in possession but under a different title other than ownership.
A. Traditio constitutum possessorium
B. Traditio longa manu
C. Traditio brevi manu
D. Traditio symbolica
A
“Traditio constitutum possessorium” (or constitutum possessorium) refers to a type of constructive delivery where the seller retains physical possession of the property as an agent or bailee of the buyer. Essentially, it’s an agreement where ownership of the property is transferred but the seller continues to hold it on behalf of the buyer.
It refers to a delivery of rights, credits or incorporeal property, made by placing titles of ownership in the hands of the buyer and aliowing buyer to make use of rights.
A. Quasi-tradition
B. Traditio longa manu
C. Traditio brevi manu
D. Traditio symbolica
A
The transfer is effected through an agreement or symbolic act, even without the physical delivery of the property.
Who is preferred in case of double sale of personal property?
A. Registrant in good faith
B. Possessor in good faith
C. Person with oldest title in good faith
D. Buyer with higher price
B
What is the order of preference of the following in case of double sale of real property: (1) registrant in good faith, (2) possessor in good faith, and (3) person with oldest title in good faith?
A. I, Il and III
B. I, IlI and II
C. III, Il and I
D. III, I and II
A
Who bears the risk of loss and deterioration of the thing sold before perfection?
A. Buyer
B. Seller
C. Both the seller and buyer
D. None
B
