1. An illustration that shows the stages in the life of a contract.

2. D borrowed from C P5,000. As security for the debt, D promised to pledge his diamond ring to C. Before the delivery of the ring to C, is the contract of pledge perfected?

3. Explanation of the effect of the perfection of the contract.

4. S agreed to deliver to B 100 sacks of rice at P1,500 per sack. S delivered only 95 sacks deliberately misrepresenting that the deliver consisted of 100 sacks of rice. Can B ask the court to annul the contract on the ground of fraud?

5. Is there an absolute acceptance when the buyer says, "Yes, I am interested in buying your car but I cannot afford your asking price, lower it down to P500,000 and it's a deal!".