Sales Flashcards
an agreement where one party promises to sell and the other promises to buy at a later time:
a. right of first refusal
b. option
c. bilateral promise of sale
d. sale by weight tale or measure
e. sale on view or trial
b. bilateral promise of sale
which is correct?
a. a depositary is bound to return the precise thing he received in deposit
b. a deposit is a K by which a person delivers an immovable to another for safekeeping under the obligation of returning it to the depositor on demand
c. the formation of K of deposit is complete upon agreement of the thing, price, and consent of parties, regardless of whether the thing has been delivered to the depositary
d. the depositary may use the thing deposited
e. if the deposit is onerous, the depositary is responsible for loss resulting from an irresistible force
a. a depositary is bound to return the precise thing he received in deposit
delivery of the thing is essential to effectiveness between parties of:
a. sale of movable
b. lease of movable
c. giving in payment
d. contract of exchange
e. a security interest
c. giving in payment
which is correct:
a. a hope may be the object of a contract of sale
b. a lease of a thing that does not belong to lessor is absolute nullity
c. a future thing may not be the object of a K of sale
d. the sale of a thing belonging to another is absolute nullity
e. the sale of litigious right is absolute nullity
a. a hope may be object of contract of sale.
when an immovable described as a certain and limited body is sold for a lump price with an expression of the extent of the immovable in the act of sale:
a. the expression of the measure does not give the seller the right to a proportionate increase of the price unless there is a surplus of more than 1/20th of the extent specified in act of sale
b. the price must be proportionately reduced if seller is unable to deliver full extent specified
c. buyer must pay to the seller a proportionate supplement of the price if the extent delivered by the seller is greater than that specified in the act of sale
d. the buyer may recede from the sale if the actual extent of the immovable sold exceeds by more than 1/20th the extent specified
e. the expression of the extent of the immovable does not give the parties any right to an increase or diminution of the price in case of surplus or shortage
e. the expression of the extent of the immovable does not give the parties any right to an increase or diminution of the price in case of surplus or shortage
What is required for a valid right of first refusal?
Must state a limited time
not valid on third party unless recorded. (actual knowledge of the right is not a consideration)
a sale of litigious rights:
a. is an absolute nullity
b. relative nullity
c. gives debtor the right to extinguish his obligation by paying to the assignee twice the price the assignee paid for assignment
d. reduces debtors obligation by the amount paid by the assignee for assignment.
e. has none of the attributes described above
e. has none of the effects described
in the case of the sale of an immovable:
a. the seller may disclaim the warranty against eviction but may not absolve himself of the obligation to return the purchase price if eviction occurs
b. the seller may absolve himself of responsibility for an eviction that is occasioned by his own act, provided he does so by clear and unabmiguous language that is brought to the attention of the buyer and explained to him
c. a buyer who avails himself of the warranty against eviction may recover from the seller the price he paid the value of any fruts he had to return to the third person who evicted him and also other damages sustained because of the eviction with the exception of an increase in the value of thing lost.
d. the liability of seller upon buyers eviction is limited to a return of double the purchase price
e. the buyers action to enforce against a good faith seller the warranty eviction prescribes one year from date of sale
c. a buyer who avails himself of the warranty against eviction may recover from the seller the price he paid the value of any fruts he had to return to the third person who evicted him and also other damages sustained because of the eviction with the exception of an increase in the value of thing lost
what are the three elements of a sale?
consent
object
price
(COP)
what is a contract of sale?
a bilateral agreement where the parties promise to enter into a sale at a later date. The agreement must satisfy all the requirements of the sale.
which of the following is not a correct statement of law?
a. stipulated damages must be reduced by the court of the obligor proves that the amount of damages exceeds the obligees actual damages
b. stipulated damages for non performance may be reduced in proportion to the benefit derived by obligee from any partial performance rendered by obligor
c. nullity of principal obligation renders a clause for stipulated damages null
d. an obligee may not avail himself of a clause of stipulated damages for delay unless the obligor has been put in default
a. stipulated damages must be reduced by the court of the obligor proves that the amount of damages exceeds the obligees actual damages
NOTE: stipulated damages will be acceptable even if they do not precisely match the obligees actual damages… as long as they are not so unreasonable as to be violative of public prolicy, they are enforceable.
privilege applies:
a. only if granted by authentic act or under private signature
b. only if granted by authentic act or under private signature duly acknowledged
c. only if granted under K proved by atleast one witness and other evidence
d. only if act creating it is in writing, unless obligor recognizes privilege when interrogated under oath
e. only for those debts for which it is expressly granted by law
e. only for those debts for which it is expressly granted by law
lesion may be claimed:
a. in case of the sale of any immovable unless the seller has reounced the right to claim it
b. only in the case of sale of corporeal immovable
c. within the prescirptive period of four years from date of sale
d. by seller of corporeal property that is movable or immovable
e. by the seller of immovable property that is corporeal or incorporeal.
b. only in the case of the sale of a corporeal immovable
what are the requirements for a lesion claim?
sale of corporeal immovable
only seller can bring claim
must be beyond 1/2 value at time of sale
liberative prescription is one year from date of sale
which of the following is correct statement?
a. action in redhibition against bad faith seller prescribes four years from delivery
b. action for recission due to redhibitory defect, the court may limit the remedy of the buyer to reduction of the purchase price
c. seller is presumed to have known of redhibitory defect if it appears in three days from time of delivery
d. exclusion or limitation of warranty against redhibitory vices is not permitted in consumer transactions
e. all of above
b. in action for recission because of redhibitory defect, the court may limit the remedy of the buyer to reduction of the purchase price
