502P FINAL EXAMS (1-25 items)

I. MULTIPLE CHOICE. Choose the best answer. Write the letter only.

1. A wrote a letter to B wherein A offered to sell his piece of land to B for

P200,000.00 B signified his desire to buy the land. In A’s letter, he gives B
Period of two (2) months within which to produce the P200,000.00 first offered by A
and execute the deed of sale?

(A). Yes, because there was actual meeting of the minds of the parties.
(B) No, for B did not signify his acceptance for A’s offer.
(C) Yes, because A is already stopped by his signed letter.
(D) Yes, because the period of two months has not expired.

2. Abel and Cane are good friends. Abel sold and delivered his car to Cane.
It was agreed and understood that on the next Sunday Abel will name and fix the price
of the car. Sunday came. Abel called Cane by the phone and stated and fixed the price
at P150,000.00. Is the sale perfected?

(A) Yes. The price was stated and fixed on the date agreed upon.
(B) No. The price was left to the discretion of the seller.
(C) No. At the time of the sale, the price is not fixed.
(D) No. The price fixed by the seller was not accepted by the buyer.

3. In sale, this is actual delivery:

(A) Execution and signing of the sales document.
(B) When the goods are placed in the control and possession of the buyer.
(C) Delivery by the seller to the buyer of the key where the goods are kept.
(D) The buyer is already in actual possession of the goods.

4. This is a mode of extinguishing an agency:

(A) Death of the principal, but the agency is for the interest of the
principal and agent.
(B) Partial accomplishment of the agency.
(C) Upon withdrawal of the principal.
(D) Insanity of the principal or agent.

5. In a contract of wherein a person binds himself to render special service

to do something in behalf of another with consent of the latter.
(A) Contract of piece of work.
(B) Contract of service.
(C) Contract of agency.
(D) (D) Contract of exchange.

6. Which of the following obligations of the vendor cannot be waived;

(A) To allow the buyer to examine the goods sold.

(B) To transfer ownership to the buyer.
(C) To pay the expenses of the deed of sale.
(D) (D) To warrant the thing sold.

7. A appoints B as his agent to sell his land, which of the following is valid:
(A) The authority of B is in writing and the sale of the land in favor of
C is oral.
(B) The authority of B from A is by way of letter and B sells the land
to C in writing.
(C) The authority of B is oral and B sells the land to C for P50,000.00
in a written contract of sale.
(D) When goods are delivered to an agent to be sold by him and the
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 agent is not liable to the manufacturer of the goods.

8. The following are characteristics of a contract of sale:

(A) Commutative
(B) Bilateral
(C) Consensual
(D) B and C only
(E) All of ABC above

9. Listed below are the nature of conventional convention. Which one is not?

(A) Purely contractual

(B) It is a real right
(C) It is not an obligation but a power that the vendor has reserved for himself
(D) Real intention of the parties is to make the subject as a debt security.

10. Which of the following is/are requisites for the right to legal redemption by co-owner:

(A) There must be alienation of all or any of the shares of the other co-owners
(B) The sale must be to a stranger
(C) The sale must be after partition
(D) A and B above
(E) A and C above
(F) All of ABC.

II. TRUE OR FALSE – LAW ON SALES

21. To lease real property to another person, the authority of the agent must be in a
special power of attorney if the lease is for one year.

22. The responsibility of two or more agents, even though they have been appointed
simultaneously, is not solidary, if solidarity has not been stipulated.
If solidarity has been agreed upon, each of the agents is responsible for the non-
fulfillment of the agency, and the fault or negligence of his fellow agents, except in
the latter case when the fellow agent acted beyond the scope of their authority.

23. Should the commission agent receive on a sale, in addition to the ordinary
commission, another called a guarantee commission; he shall bear the risk of
collection and shall pay the principal the proceeds of the sale on the same terms
agreed upon with the purchaser.

24. If the agent is prohibited from appointing a sub-agent, any act executed by the
latter is unenforceable on the part of the principal.

25. The agency shall remain in full force and effect even after the death of the
principal, if it has been constituted in the common interest of the latter and of the
agent, or in the interest of a third person who has accepted the stipulation in his
favor.

26. An agency couched in general terms comprises only acts of administration, even
if the principal should state that he withholds no power or that the agent may
execute such acts as he may consider appropriate, or even though the agency
should authorize a general and unlimited management.

27. If the principal directly manages the business entrusted to the agent, there is
implied revocation of the agency.
28. In agency, three is a meeting of minds between the parties, expressly or
impliedly; while in negotiorium gestion, there is no meeting of minds between the
two persons because the relation is created by operation of law.

29. To make customary gifts for charity, the authority of the agent must be a special
power of attorney.

30. If the agent acted in the name of the principal but without authority, the
contracted is unenforceable subject to ratification

ENUMERATION

21- 23 What are the remedies of the vendor in case of sale of personal property sold
in installments?

24 – 25 What are the kinds of goods which may be the subject of sale?

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