1. Goods are deemed in transit

a. When the buyer accepts delivery of the goods upon arrival at destination

b. When the buyer intercepts and lawfully takes possession of the goods at any point before destination c. From the time they are delivered by the seller to a common carrier or other bailee for the transmission to the buyer, up to the time that the buyer or his agent takes delivery of the goods from the carrier or bailee

d. When the carrier or bailee, upon arrival of the goods at destination acknowledges to the buyer or his agent that he is holding the goods as bailee for the letter

2. Goods are deemed no longer in transit

a. If the goods are rejected by the buyer for a valid reason and the carrier or other bailee continues in possession of them, even if the seller has refused to receive them back.

b. From the time they are delivered to a carrier by land, water or air for the purpose of transmission to the buyer

c. From the time they are delivered to a bailee for the purpose of transmission to the buyer until the buyer or his agent in that behalf, takes the delivery of them from such bailee

d. If the carrier or other bailee wrong fully refuses to deliver the goods to the buyer or his agent in that behalf

3. A sold to B orally a parcel of land for P200,000. A effected the delivery of the land. The payment of the price was to be made three months later. At the end of the three month period

a. B may refuse to pay claiming in his defense the Statute of Frauds

b. B may return the parcel of land to A

c. A can collect from B because the contract has already been executed

d. B may refuse to pay on the ground that there is no written contract to support the sale

4. On January 10, 2009, A sold for P2M her house and lot to B. It was agreed that delivery of the house and lot, and the payment therefore, would be made on March 1, 2009. Unfortunately, C a stranger negligently set the house on fire on February 25, 2009, and the house was completely destroyed. Which is correct? a.

a. B is not required to pay the P900,000 since the contract had no subject matter

b. A must still deliver the lot but is excused from delivering the house, while B must still pay the P2M

c. C. A must still deliver the lot while B should pay only the amount equivalent to the value of the lot

d. A need not deliver the lot while B need not pay the P2M

5. If immovable property should have been sold to different vendees, the ownership shall be transferred to the person

a. Who have first taken possession in good faith

b. Who presents the oldest title in good faith

c. Who in good faith first recorded it in the Registry of Property

d. Who have paid in good faith the purchase price in full

6. Using the preceding number, if movable property, it shall belong to the person

a. Who have paid in good the purchase price in full

b. Who in good faith first recorded it in the Registry of Property

c. Who presents the oldest title in good faith

d. Who have taken possession in good faith

7. In a contract of sale of personal property, the price of which is payable in installment, the vendor may exercise any of the following remedies, except

a. Exact fulfillment of the obligation, should the vendee fail to pay any installment.

b. Cancel the sale, should be the vendee's failure to pay cover two or more 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 installment

d. Rescind the sale should the vendee fail to pay any installment one as both sales are void

8. The right of the seller to stop goods in transit, upon discovering that the buyer does not have the funds to pay for the goods

a. Pre-emptive right

c. Voting right

b. Appraisal right

d. Right of stoppage in transit

9. A sold to B parcel of land for P3.8 M. The sale is evidenced by a memorandum of agreement of sale written in the Bicolano dialect. One week later, A sold the same parcel of land to C for P4M. This is evidenced by a formal deed of sale. Upon buying the property, C, who was aware of the sale, immediately took possession of the lot. When informed of the second sale, B subsequently registered an adverse claim to the property . Later, C registered the deed of sale in her favor. The parcel of land shall belong to

a. B because he has got an older title

c. C because he is the first to take possession

b. C because he is the first to register

d. No one as both sales are void

10. A sold to B his car and promised to deliver ten days later. The next day, after the sale to B, A sold the same car to C and immediately effected delivery. On the day agreed upon, A did not deliver the car to B. Which is correct?

a. B can cancel the contract between A and C, because the contract between A and B was perfected ahead of the contract between A and C

b. B should make a demand to make A in default

c. A is liable to b for the value of the car plus damages after B makes a demand

d. A is liable to B for damages and is in default without need of any demand

11. A sold to B her Yamaha organ. It was agreed that A would fix the price a week later. At the agreed time, A named the price P10,000. B agreed. Was the sale perfected?

a. No, because the price was left to the discretion of one of the contracting parties

b. No, because at the time of sale the price was not fixed

c. Yes, because the price fixed by one of the parties was accepted by the other

d. Yes, because there was agreement that A would fix the price

12. When the goods are delivered to the buyer on sale or return for period of seven days, ownership of the goods passes to the buyer

a. Upon perfection of the contract

b. Upon acceptance by the buyer of the offer of the seller

c. Upon expiration of seven days

d. Upon delivery of the goods.

13. Not an element of the sellers right of stoppage in transit

a. the good must be in transit

c. the seller must be in possession of the goods

b. The buyer must be insolvent

d. The seller must be unpaid

14. A sold his only car to B for P300,000 to be paid as follows: P150,000 upon delivery of the car to B and the balance at P10,000 per month until full payment of the purchase price. Later the car gets burned in the possession of B through fortuitous event and without B's fault, before full payment of the balance. Is B obliged to pay the balance?

a. No, because the car was lost through fortuitous event and without B's fault, hence B's obligation is extinguished.

b. No, because the loss should be borne by the seller as this an installment sale so until the buyer pays the full amount of the price of the sale , A remains to be the owner

c. yes, but A must give another car to B because of the principle" genus nunquam peruit" or generic thing never perishes

d. Yes, because of the principle "res perit domino" or the thing perishes with the owner.

15. Delivery by merely pointing to the object of sale if it cannot be delivered to the vendee at the time of the sale is

a. Traditio longa manu

c.Traditio constitutum possessorium

b. Traditio brevi manu

d. Traditio symbolica

16. Effected when the object of sale is already in the possession of the vendee at the time of sale so that delivery need no longer be made is

a. Traditio longa manu

c. Traditio constitutum possessorium

b. Traditio brevi manu

d. Traditio symbolica

17. When the owner of the thing sells it to vendee, but continues to have possession or occupation of the thing not as owner but as tenant or lessee

a. Traditio longa manu

c. Traditio constitutum possessorium

b. Traditio brevi manu

d. Traditio symbolica

18. A sold a parcel of land to B by word of mouth and delivered to the latter the Transfer Certificate of Title of the land. Can B compel A to execute the deed of sale of the land?

a) B cannot compel A to execute the deed of sale as the sale being oral is unenforceable.

b) B cannot compel A because the sale is void being oral.

c) B cannot compel A because the contract is enforceable due to the delivery of the TCT.

d) B can compel A because the sale is voidable and binding until annulled.

19. A offered20Matchbox cars to B for P1,000.00 each. B answered by letter that he was willing to purchase not 20 but 10 pieces at said price of P1,000.00 each. Is the contract perfected?

a. No, because there is qualified acceptance which constitutes an offer by the buyer.

b. Yes, there is perfected sale because the number of pieces is only incidental matter in the sale.

c. Yes, because the letter of acceptance was already sent by the by the offeree.

d. No, because there is no offer yet of A that is certain.

20. Who is unpaid seller?

a. A sold his land to B for 1M, and B paid the same.

b. A donated his land to B, being his favorite grandchild.

c. A sold his land to B for 1M, and B paid A a car with market value of 1M.

d. A sold his land to B for 1M, and the land was also mortgaged to A.

21. The vendor shall not be bound to deliver the goods if:

a. Buyer paid the entire value of the goods.

b. Buyer is insolvent.

c. Buyer issued a check for the value of the goods.

d. Buyer promised to pay the value of the goods on December 31, 2022.

22. The unpaid seller has no right to:

a. Retain the goods

b. Resell the goods

c. Rescind the contract

d. Stop the goods that are in possession of the buyer

23. The vendor is not bound to deliver:

a. The title for the land bought by the buyer

b. The keys for the house bought by the buyer

c. The piglets born before the perfection of contract of sale

d. The aircon inside the car

24. Forms of document of title are the following except:

a. Bill of lading

b. Warehouse receipt

c. Dock warrant

d. Promissory note

25. Negotiable Document of title is:

a. Document of title that may be transferred for value by delivery only.

b. Document of title that may be transferred for value by indorsement.

c. Document of title that will be transferred to specific person.

d. Document of title that may be transferred for value by delivery and indorsement.

Enumeration

1. Give 4 warranties made by a person who negotiates or transfer the document of title.

2. Who may negotiate negotiable document of title?

3. What are the classes of document of title?

4. What are the circumstances that the vendee loses the right to make use of the term?

5. What are the options of the buyer of real estate in case the area delivered by the seller is less than what was stipulated?