QUIZ ELEC 2 2nd exam Flashcards
1
Q
If the parties really intended a donation or some other act or contract, the contract of sale is:
A
VOID
2
Q
If there is mere inadequacy of the price, the contract is:
A
VALID
3
Q
What distinguishes earnest money from option money?
A
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.
4
Q
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
5
Q
For a right to be a valid subject matter, it must be:
A
Transmissible
