1 In an agreement where A obliged himself to give to B a watch worth P800,000, and B obliged himself to give to A, his car and cash P350,000. What contract was entered into?

2 X delivered to Y, maong pants, for the purpose of selling them. While in Y's possession, the store of Y was burned down and the maong pants were destroyed. Is Y still liable to pay X?

3 Arthur sold to Richard his car and delivered the same. They agreed that Richard would pay P50,000 as downpayment, and the balance of P100,000 is payable in 4 equal installments. While in Richard's garage, the car was stolen. Is Richard liable to pay the balance of the price?

4. X sold to Y his land for P1M, the price payable in 10 equal monthly installments.

X executed a deed stating that X retains ownership over the land despite delivery thereof subject

to the full payment of the price. Upon full payment, will Y become the owner of the land?

Part II

1. The following are the characteristics of a contract of sale, except:

A. Consensual C. Nominate

B. Bilateral D. Gratuitous

2. A kind of sale where ownership does not automatically transfer to the buyer upon fulfillment of the condition, which is

usually the payment of the price, and gives the buyer the right to demand the execution of deed of sale for the transfer

of ownership.

A. Absolute Sale C. Contract to Sell

B. Conditional Sale D. Answer not given

3. Arthur gave Richard a receipt which states:

Receipt

Received from Richard as down payment for my delivered 1995 Toyota Corolla with plate no. XYZ-

123........................ P50,000.00

Balance payable: 12/30/21...... P50,000.00

September 15, 2021

(Sgd.) Arturo

If Richard fails to pay the price, Arthur's remedy would be:

A. Recovery of possession

B. Rescission

C. Annulment

D. Replevin

4. A obliged himself to deliver a watch worth P800,000 and B obliged himself to give to A, his specific car and P350,000.

What is the contract entered into?

A. If the value of the car is P200,000, the contract entered into is a sale.

B. If the value of the car is P500,000, the contract entered into is a barter.

C. It will depend upon the intention of the parties.

D. The contract entered into is a sale, regardless of the value of the car.

5. B bought customized shoes, size 19, from S, who do not normally produce such size in the ordinary course of business,

for P10,000 which was paid by B and the shoes are to be delivered 13 months thereafter. What is the status of the

contract?

A. The contract is unenforceable for not being in writing

B. The contract is valid and enforceable

C. The contract entered into is a sale

D. The contract entered into is a barter