__B__14. On January 1, S orally sold to B a specific ring for P450.00.

The parties agreed that S

shall deliver the ring to B on January 5, while B shall pay the price of January 7.
a. The contract is perfected on January 5, when the ring is delivered by S to B.
b. The contract is perfected on January 1, when the parties had a meeting of minds on the object
and the price.
c. The contract is perfected on January 7, when the price is paid, since both parties would by
then have performed their obligation in the contract.
d. There is perfected contract because the sale was made orally.

__C__15. 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 to:
a. exact fulfillment of the obligation, should the vendee fail to pay any number of installments.
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. 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.