1. If a movable property is sold separately to two or more
To pay, without additional interest, the unpaid
different vendees, ownership shall belong to the person:
a. Who in good faith presents the oldest title.
b. Who in good faith first recorded the sale in the
Registry of Property.
c. Who in good faith first took possession of the
property.
d. Who in good faith first paid the purchase price in
full.
2. If immovable property should have been sold to different
vendees, the ownership shall be transferred to the person
a. Who in good faith first recorded it in the
Registry of Property
b. Who presents the oldest title in good faith
c. Who have paid in good faith the purchase price
in full
d. Who have first taken possession in good faith
3. If redemption is to be made by the seller, one of the
following need not be given to the buyer
a. Interest on the price of the sale
b. Necessary expenses on the thing sold
c. Expenses of the contract
d. Price of the sale
4. Implied warranties as provided by law are enforceable
only if so agreed upon by the seller and buyer in a
contract of sale.
Even if there is waiver of warranty against eviction and
eviction should take place the seller is liable to pay the
value at the time of the sale.
a. Second is true, first is false.
b. Both are true.
c. First statement is true, second is false.
d. Both are false.
5. In 2018, A, a businessman bought from B an industrial lot
worth 10 million payable in 15 years installment. A was
able to successfully pay 2 and ½ years of installments
when he suffered financial reverses making him unable to
pay the succeeding installments. A sought your advice
whether he is entitled to the benefits under the Realty
Installment Buyer Act. What advise will you give A.
a. A’s down payments, deposits or options on the
contract shall be included in the computation of
the total number of installment payments made.
b. None of the above because the Realty
Installment Buyer Act covers all transactions or
contracts involving the sale or financing of real
estate on installment payments, including
residential condominium apartments but
excluding industrial lots, commercial buildings
and sales to tenants under R.A. 3844.
c. If the contract is canceled, B shall refund to A
the cash surrender value of the payments on the
property equivalent to fifty per cent of the total
payments made, and, after five years of
installments, an additional five per cent every
year but not to exceed ninety per cent of the total
payments made.
d.
installments due within the total grace period
earned by him which is hereby fixed at the rate
of one month grace period for every one year of
installment payments made and that he can
exercise this only once in every five years of the
life of the contract and its extensions, if any.
6. In a contract of sale of personal property the price of
which is payable in installments, the vendor may exercise
any of the following remedies, except:
a. Foreclose the chattel mortgage on the property if
the vendee’s failure to pay cover two or more
installments but he may no longer recover any
deficiency after the foreclosure sale.
b. Cancel the sale should the vendee’s failure to
pay cover two or more installments.
c. Foreclose the chattel mortgage on the property if
the vendee’s failure to pay cover two or more
installments and recover any deficiency after the
foreclosure sale if they have stipulated it.
d. Exact fulfillment of the obligation, should the
vendee fail to pay any number of installments.
7. In a contract of sale of personal property, the price of
which is payable in installments, the vendor may exercise
any of the following remedies, except
a. Cancel the sale, should the vendee’s failure to
pay cover two or more installments
b. Exact fulfillment of the obligation, should the
vendee fail to pay any installment
c. Foreclose the chattel mortgage on the thing sold,
if one has been constituted should the vendee’s
failure to pay cover two or more installments
d. Rescind the sale should the vendee fail to pay
any installment
8. In a sale, this is actual delivery:
a. Execution and signing of the deed of sale.
b. Goods sold are placed in the control and
possession of the vendee.
c. Delivery by the vendor of the keys to the place
where the goods are kept or stored.
d. The vendee is already in possession of the goods
even before the sale.
9. In a true pacto de retro sale, the title and ownership of the
property sold are immediately vested in the vendee a retro
subject only to the resolutory condition of repurchase by
the vendor a retro within the stipulated period. This is
known as
a. conventional redemption.
b. equity of redemption.
c. legal redemption.
d. equitable mortgage.
10. In case of doubt, a sale with a right of repurchase or
without a right of repurchase shall be construed as an
equitable mortgage. The seller therefore:
a. May ask the court for the declaration of nullity
of the contract.
b. May ask for the reformation of the instrument.
c. Shall be bound to perform his obligation as
seller.
d. May ask for the annulment of the contract.