NATIONAL COLLEGE OF BUSINESS AND ARTS

Cubao-Fairview-Taytay
2ND SEMESTER SY 2020-2021

QUIZ NO 1 1/2 HR
RFLIB PART 1 SALES, AGENCY, & OTHER COMMERCIAL LAWS

INSTRUCTIONS: Select the correct answer for each of the following questions.

For numbers 1 to 5, determine if:

A. voidable B. unenforceable C. rescissible
D. void or inexistent E. valid

1. An oral contract of sale involving an immovable property is:

2. An oral contract of sale involving a wooden table sold for Php500
3. Sale of young of animal not yet conceived at the time of perfection
4. Sale of vain hope
5. Sale of things having a potential existence
6. Sale of cow in private instrument
7. Mr. X, 16 years old, sold his house worth P1M for only P500,000
8. Mr. X sold his ward’s house worth P1M for only P500,000

For numbers 6 to 12, determine if:

A. True
B. False

9. Sale is a bilateral, onerous and preparatory contract.

10. Sale of future inheritance is valid as future things may be the object of the contract.
11. A contract of sale is perfected from the moment of meeting of the minds.
12. The vendor need not be the owner of the thing sold at the time the sale is perfected.
13. Dation en pago is governed by the law on sales.