Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

RFBT > Sales 1 > Flashcards

Sales 1 Flashcards

1
Q

The contract of sale is a principal contract.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The efficacy of the sale of a mere hope or expectancy is deemed subject to the condition that the thing will come into existence.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Fungible goods are goods that are perishable.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

In construing a contract containing provisions characteristics of both the contract of sale and of the contract of agency to sell, the contract should be construed as a contract of sale.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

In order that the price may be considered certain, it shall be sufficient that it be so with reference to another thing certain.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Gross inadequacy of price does not affect a contract of sale.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The failure to pay the stipulated price after the execution of the contract does not convert the contract into one without cause of consideration.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Whenever option money is given in a contract of sale, it shall be considered as part of the price.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

In a contract of sale of personal property the price of which is payable in instalment, the vendor may cancel the sale, should the vendee fail to pay the first instalment.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The expenses for the execution and registration of the sale shall be shouldered as such by the buyer.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Necessaries are those things which are needed for sustenance, dwelling, clothing, and medical attendance.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The guardian cannot acquire by purchase even at a public auction or judicial auction, the property of the person or persons who may be under his guardianship.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

A sale of future goods even though the contract is in the form of a present sale is valid only as an executory contract.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The sole owner of a thing may only sell a divided interest thereof.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

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 is a contract of sale.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

If the consideration of a contract consists partly in money and partly in another thing, the contract is a contract of barter or exchange.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

The ownership of the thing sold shall be transferred to the vendee upon the actual or constructive delivery thereof.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

To constitute a sale by sample, it must appear that the parties contracted solely on the bulk.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

A sale of real property for P300 is not under the coverage of the Statute of Frauds.

A

FALSE

20
Q

The Statute of Frauds is applicable to executory and executed contracts.

A

FALSE

21
Q

Kim Possible delivered to the house of Ron Stoppable 10 boxes of chocolates, as per their agreement. Ron is to pay for the chocolates a month thereafter. Which of the following is true?

A. the contract of sale is not yet perfected since Ron had not yet paid the price
B. the ownership of the chocolates has already been transferred to Ron even before payment
C. there is already perfection of the contract of sale but ownership of the subject matter will only be acquired by Ron after payment thereof
D. there is no contract of sale

A

B. the ownership of the chocolates has already been transferred to Ron even before payment

22
Q

Which of the following is true?

A. a sole owner of a thing can only sell a divided interest thereof
B. fungible goods are those goods that are, by their nature, perishable
C. future goods are those goods that are to be manufactured, raised or acquired
D. in constructing a contract containing provisions characteristic of both the contract of sale and the contract of agency to sell, the contract is treated as a contract of sale

A

C. future goods are those goods that are to be manufactured, raised or acquired

23
Q

Only one of the choices matches only one of the given. Which is it?
I. contract for a piece of work
II. contract of barter or exchange
III. contract of sale

A. one where each lot is subject of a separate contract
B. a unilateral promise or offer to sell or to buy a thing which is not accepted
C. one where the contractor binds himself to execute a piece of work for the employer, in consideration of a certain price or compensation
D. sale of a vain hope

A

C. one where the contractor binds himself to execute a piece of work for the employer, in consideration of a certain price or compensation

24
Q

Phineas sold to Isabella his land worth P1,000,000 for only P100,000. Which is correct?

A. the contract of sale is unenforceable since the price is grossly inadequate
B. the contract of sale is void since the selling price is only 10% of the actual value
C. the contract of sale is rescissible
D. the contract of sale is valid

A

D. the contract of sale is valid

25
Q

On January 1, 2022, Candace and Jeremy agreed to enter into a contract where Jeremy would buy the computer of Candace. The parties however were not able to fix the price. On January 15, 2022, Jeremy decided that the price of the computer is only P15,000. On January 20, Jeremy communicated such designation to Candace. Candace however accepted the price only on January 25, and delivered the computer to Jeremy the next day. When is the day of the perfection of the contract?

A. January 1
B. January 15
C. January 25
D. January 26

A

C. January 25

26
Q

Which of the following is not true?

A. if the thing is lost at the time of perfection, the contract is voidable
B. if the thing is lost after perfection but before delivery, the risk of loss is shifted to the buyer
C. if the thing is lost after perfection and after delivery, the buyer shall shoulder the loss
D. none of the above

A

A. if the thing is lost at the time of perfection, the contract is voidable

27
Q

Under the Statute of Frauds, certain contracts must be in writing, otherwise they cannot be enforced in a court litigation. Which of the following is the exception?

A. sale of personal property at a price not less than P500
B. sale of a personal property where the price of P500 had already been paid
C. sale of real property or an interest therein for P300
D. sale of property not to be performed within a year from the date thereof

A

B. sale of a personal property where the price of P500 had already been paid

28
Q

Velma sold to Shaggy her farm land for P1,000,000 and executed a private document. Which of the following is true?

A. the sale is void
B. the sale is unenforceable
C. the sale is valid but is binding only between Velma and Shaggy
D. the sale is voidable

A

C. the sale is valid but is binding only between Velma and Shaggy

29
Q

In a contract of sale between Sam and Clover, the subject matter is 50 bags of wheat. Before delivery thereof, 20 of the bags were lost. What is the option of Sam the seller?

A. Sam may withdraw from the contract but has to pay a reasonable price for the bags of wheat
B. Sam may accept the 30 and pay the price thereof and demand for the 20 but has no obligation to pay for the remaining bags
C. Sam may withdraw from the contract without the obligation to pay for the wheat
D. none of the above

A

C. Sam may withdraw from the contract without the obligation to pay for the wheat

30
Q

Which of the following is not an obligation of the vendor?

A. to transfer the ownership of the determinate thing sold
B. to take care of the thing pending delivery
C. to pay for the expenses for the execution of the sale
D. none of the above

A

D. none of the above

30
Q

Only one of the choices matches one of the given. Which is it?
I. traditio longa manu
II. traditio constitutum possessorium
III. traditio symbolica

A. execution of a public document
B. one where the vendee has already the possession of the thing which is the subject matter of the sale
C. takes place by the mere consent or agreement of the parties as when the vendor merely points to the thing
D. the mode of transferring incorporeal things

A

C. takes place by the mere consent or agreement of the parties as when the vendor merely points to the thing

31
Q

Only the owner can validly sell a thing belonging to him. The law however provides for certain exceptions. Which is not among them?

A. where the seller has a voidable title to the goods which has only been recently avoided at the time of sale
B. where the sale is made at merchant’s stores, fairs or markets
C. where the law enables the apparent owner to dispose of the goods as if he were the true owner thereof
D. where the seller subsequently acquires title

A

A. where the seller has a voidable title to the goods which has only been recently avoided at the time of sale

32
Q

Where is the place of delivery?

A. where there is an agreement, express or implied, The place of delivery is that agreed upon
B. the place of delivery is determined by the usage of trade
C. in case of specific goods, the place where it is at the time of the perfection of the contract
D. all of the above

A

A. where there is an agreement, express or implied, The place of delivery is that agreed upon

33
Q

Phineas agreed to sell to Ferb a complicated machinery approximating 100 kilos, but not more than 150 kilos. Phineas then delivered a machinery weighing 160 kilos. What is the option of Ferb?

A. Ferb may accept the parts weighing 150 kilos and reject the rest
B. Ferb may withdraw from the contract but has to pay a reasonable price
C. Ferb can ask Phineas to dismantle the machinery
D. none of the above

A

D. none of the above

34
Q

London sold to Bailey her necklace for P50,000. No date has been fixed as such by the parties for the performance of their respective obligations. Which is correct?

A. Bailey can immediately ask London to deliver the necklace
B. Bailey can ask London to deliver the necklace first so that she will pay the price
C. London cannot be compelled by Bailey to deliver the necklace before the payment of the price
D. none of the above

A

C. London cannot be compelled by Bailey to deliver the necklace before the payment of the price

35
Q

Which of the following is not a remedy of an unpaid seller?

A. in case of the insolvency of the buyer, the right of stopping the goods in transitu while such are still in the seller’s possession
B. a lien on the goods or right to retain them for the price while he is in possession of them
C. a right of resale
D. a right to rescind the sale

A

A. in case of the insolvency of the buyer, the right of stopping the goods in transitu while such are still in the seller’s possession

36
Q

Which of the following is true?

A. if the thing is lost without fault of debtor, obligation will subsist
B. when the thing improved through its nature, or by time, the improvement shall be for the benefit of the debtor
C. when the thing improved at the expense of the debtor, he shall be allowed to use the thing and its improvement
D. if the thing is lost through the fault of the debtor, obligation of the debtor is extinguished

A

C. when the thing improved at the expense of the debtor, he shall be allowed to use the thing and its improvement

37
Q

Sharpay bought from Chelsea a parcel of land with an area of 1,000 square meters, at a contract price of P1,000 per square meter. Chelsea was only able to deliver 950 square meters. Which is true?

A. Sharpay can accept and pay only P950,000
B. Sharpay must accept and pay P1,000,000
C. Sharpay can ask for the rescission of the contract
D. Sharpay can avoid the contract

A

A. Sharpay can accept and pay only P950,000

38
Q

Ben Ten bought from Kevin a parcel of land with an area approximating 1,000 square meters, at a contract price of P1,000,000. Included in the contract is the description of the boundary of such land. Kevin then delivered to Ben Ten a parcel of land with an area approximating 950 square meters. Which is correct?

A. Kevin can accept and pay only P950,000
B. Kevin has to pay P1,000,000
C. Kevin can ask for the rescission of the contract
D. Kevin can avoid the contract

A

B. Kevin has to pay P1,000,000

39
Q

Only one of the choices matches only one of the given. Which is it?
I. condition
II. implied warranty
III. implied warrant as to fitness

A. is an affirmation of fact or any promise by the seller relating to the thing
B. a mere expression of an opinion by the seller
C. that the seller guarantees that the thing sold is reasonably fit for the known particular purpose for which it was acquired as such by the buyer
D. none of the above

A

C. that the seller guarantees that the thing sold is reasonably fit for the known particular purpose for which it was acquired as such by the buyer

40
Q

Which of the following is true?

A. eviction is the judicial process whereby the vendee is deprived of the whole or part of the thing purchased by virtue of a case filed in court
B. in eviction, the judgment should be based on a right after the sale
C. in eviction, the vendee must be deprived of the thing by virtue of a final judgment
D. in the suit for eviction, there is no need to summon the vendor to court

A

A. eviction is the judicial process whereby the vendee is deprived of the whole or part of the thing purchased by virtue of a case filed in court

41
Q

Only one of the choices does not match any of the given. Which is it?
I. prescription
II. easement
III. waiver consciente

A. the waiver which is voluntarily made by the vendee without the knowledge and assumption of the risks of eviction
B. the waiver made by the vendee with knowledge of the risk of eviction and assumption of the consequences
C. one where one acquires ownership and other real rights through the lapse of time in the manner and under the conditions prescribed by law
D. an encumbrance imposed upon an immovable for the benefit of another immovable belonging to a different owner

A

B. the waiver made by the vendee with knowledge of the risk of eviction and assumption of the consequences

42
Q

Which is not true?

A. the vendor is not responsible to the vendee for any hidden faults or defects in the thing sold if he was not aware thereof
B. if the thing old had any hidden fault at the time of sale, and should thereafter be lost by a fortuitous event or through the fault of the vendee, the vendee may demand of the vendor the price which he paid, less the value which the thing had when it was lost
C. the action for the rescission of the contract or reduction of the purchase price prescribes in 6 months from the date of delivery of the thing sold
D. none of the above

A

A. the vendor is not responsible to the vendee for any hidden faults or defects in the thing sold if he was not aware thereof

43
Q

Which is not true?

A. the buyer of goods is compelled to accept delivery by instalments
B. where goods are delivered to the buyer, which he has not previously examined, he nevertheless is deemed to have accepted the goods even if he hadn’t been afforded an opportunity to examine such goods
C. where the goods are delivered to he buyer and he justifiably refuses to accept them, he will have the obligation to return such goods to the seller
D. all of the above

A

A. the buyer of goods is compelled to accept delivery by instalments

44
Q

Miley enters the restaurant of Emily and asks the waiter to bring her a dozen fresh oysters in their shell. After eating, she notices an almost perfect pearl in one of the shells. She is about to take it when Emily claims the pearl. To whom should the pearl belong?

A. Emily, since she is the owner of the restaurant
B. the waiter, since he served the oyster to Miley
C. the restaurant, since it is still the owner of the oyster
D. to Miley, since as owner of the oyster, she is also the owner of the accessory

A

D. to Miley, since as owner of the oyster, she is also the owner of the accessory

RFBT (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions