LEGAL ASPECT PRELIM 16.

If the price is grossly inadequate, the contract is

void FALSE
EXAMINATION
17. If the third person acted in bad faith or by is
1. If the parties are in a telephone conversation, the
taken in determining the price of the object, the
contract of sale is perfected upon the meeting of
court my fix the price TRUE
minds. TRUE
18. There shall be a perfected contract of sale if
2. If the sale is by auction, the contract is perfected
THERE WAS CONSENT ON THE OBJECT AND
UPON THE FALL OF THE HAMMER
PRICE
3. A thing is considered to be determinate when IT
19. The seller shall bear all the expenses of the
IS PARTICULARLY DESIGANTED
sale TRUE
4. As an exception to the res perit domino rule, the
20. The sale of a parcel of land shall be made in
buyer shall bear the the loss if the thing is lost
writing TRUE
AFTER PERFECTION BUT BEFORE
DELIVERY
21. If the price cannot be determined, the sale is in-
efficacious TRUE
5. An element which is deemed to exist in certain
contracts in the absence of any contrary
22. If the price is simulated, the sale is valid
stipulations NATURAL ELEMENT
FALSE
6. The aim of contract of sale is the TRANSFER
23. If the thing sold has been entirely lost at the
OF TITLE
time of the perfection of the contract, the contract
shall be INEFFICACIOUS
7. END
24. In a contract for a piece of work, the seller
8. The characteristic of the contract of ale which
manufactures the good for the general public
explains that the thing sold is conveyed in
FALSE
consideration of the price and vice-versa
ONEROUS
25. The contract perfected when the buyer pays in
cash in the amount of P1,000.00 and gives a
9. Who among the following is absolutely
cellphone worth P1,000.00 CONTRACT OF
incapacitated to enter into a contract of sale? A
SALE
PERSON WHO IS DEMENTED
26. A minor can validly enter into a contract of sale
10. The fixing of the price can be left to the sole
if the object of sale IS NECESSARY
discretion of one of the contracting parties.FALSE
11. Since a contract of sale does not depend upon
27. The vendor should have the rights to transfer
another contract for its existence and validity, it is
ownership over the object AT THE DELIVERY OF
characterized as a PRINCIPAL
THE OBJECT
12. Which of the following sales are null and void?
28. If the value of money is higher than the value of
PROSECUTING ATTORNEY BUYING THE
the object in kind, the contract shall be called
PROPERTY UNDER LITIGATION
barter FALSE
13. There can never be contract of sale of goods,
29. END
whose acquisition by the seller depends upon a
contingency which may or may not happen
30. In the sale of personal property in installment, if
FALSE
the buyer fails to pay one installment, the seller
could EXACT THE PRICE
14. If a chattel mortgage has been constituted in
the contract of sale, the seller, after foreclosing the
31. Unilateral promise to sell or to buy a thing is
mortgage, can still go against the buyer to
not accepted creates a legal bond between the
recover any unpaid balances of the price.FALSE
parties FALSE
15. The price of securities can be ascertained if it is
32. In sale of real properties in installments, the
referred to its value at a particular exchange or
seller can cancel the sale and return the cash
market TRUE
surrender value which is 75% of the total
payment made plus 5% interest for each year.
FALSE
33. When is the object considered lost? WHEN IT
IS BEYOND THE COMMERCE OF MEN
34. The following future goods may be considered
as valid objects of a contract of sale except:
GOODS TO BE INHERITED.
47. Where goods are put up for sale by auction in
lots, each lots is subject to one contract of sale
TRUE
48. If at the time the contract is perfected the things
is entirely lost, the contract shall be valid FALSE
49. That which serves as a proof of the perfection
of the contract of sale EARNEST MONEY

35. If one of the parties prevented the third party
from ascertaining the price certain, the innocent
party does not have any remedy against the
guilty party FALSE
36. An object to be valid for a contract of sale, it
should be LAWFUL
50. In the sale of real properties in installment, the
buyer has a grace period which to pay the
installment due, which shall be ONE MONTH
FOR EVERY ONE YEAR OF INSTALLMENT
MADE
51. The sale is void if THE PRICE IS SIMULATED

37. An agreement bought the property of his 52. The husband and wife can sell properties to
principal under his administration. What is the each other if they are under a conjugal partnership
status of the contract of sale? VOIDABLE TRUE

38. The status of the contract of sale if the property

involved in the litigation was bought by a public
officer VOID

39. Husband and wife can validly sell properties to

each other if THEY HAVE A PER-NUPTIAL
AGREEMENT WITH SEPARATE
PROPERTIES

40. In a contract of barter, the consideration is

money FALSE

41. Future things are valid objects of a contract of

sale if IT HAS POTENTIAL EXISTENCE

42. A contract where the buyer receives the goods

as owner and pays the price for the thing sold
CONTRACT OF SALE

43. If the thing sold has been entirely lost at the

time of the perfection of the contract the contract
shall be INEFFICACIOUS

44. If the object is lost in part at the time the

contract of sale is perfected, the vendee SHALL
CHOOSE BETWEEN WITHDRAWING FROM
THE ONTRACT AND DEMANDING THE
REMAINING PART

45. If the object is lost at the time of the sale, the

contract to be of no effect as THERE IS AN
ABSENT OF ESENTIAL ELEMENT

46. If the consideration is partly in money and

partly in kind, the contract may be a CONTRACT
OF BARTER
Father wants to distribute his properties among his
children while he is still alive. Father executed
deed of sale for Son and Daughter, his
children. The properties are worth 3 million pesos
each. In the deed of sale, father indicated the
price of the properties as 1million pesos each.
Father received nothing from his children and
paid all taxes and expenses to transfer the
registration in the names of son and daughter.
Are the contract of sale valid? Why?______

ANS:

Seller offered to buyer a parcel of lot known as Lot

1 located in Barangay, City with an area of 200sqm
more or less. Seller is selling the property for 2M
pesos in cash. Buyer accepted the offer of seller
and promised to pay 1.5M pesos in 3 equal
installment. Is there a perfected contract of
sale between seller and buyer? Explain _____

ANS: