1. Sonia delivers to Rodel her lot worth Php800,000.00 in exchange for the motorcycle of Rodel worth Php400,000.00 and cash of Php100,000.00. The contract is:

a. barter

b. sale

c. partly barter partly sale

d. innominate contract

2. State the rule in sale by description and sample.

3. Lucy, guardian of Richard sold Richard's house and lot worth Php500,000.00 for P300,000.00.

a. The contract can be rescinded because of inadequacy of price

b. The contract cannot be rescinded because there is no fraud.

c. The contract cannot be rescinded because all of the elements of the contract are present. d. The contract is perfected.

4. In delict or acts or omissions punished by law, what is not included in civil liability?

a. Restitution

b. Reparation

c. Indemnification

d. Interest

5. Which statement is correct. Ownership of the thing sold is:

a. retained by the seller in a sale or return.

b. transferred to the buyer upon constructive delivery

c. acquired by the buyer upon perfection of the contract

d. transferred to the buyer upon acceptance of the price.

6. Give at least 3 distinction of contract of sale and contract of agency to sell.

7. In contract of sale if the price is grossly inadequate the contract is:

a. void

b. voidable

c. unenforceable

d. valid

8. In a contract of sale if the price is absolutely simulated the sale is:

a. void

b. voidable

c. unenforceable

d. valid

9. Claire sold to Clara a particular goods. At the time of the sale, Claire is not the owner of the goods. May there be a valid sale to Clara? Explain.

10. True or false. In case where less than 2 years of installments were paid, the seller shall give the buyer a grace period of not less than 60 days from the date the installment became due.

11. True or false. If the buyer fails to pay the installments due at the expiration of the grace period the seller may cancel the contract after 30 days from receipt by the buyer of the notice of cancellation or the demand fro rescission of the contract by a notarial act.

13. Maceda Law is applicable to sales of: a. movable property b. personal property on installment basis c. real property on installment basis d. immovable property.

14. In case the installments paid by the buyer is less than 2 years, the seller shall give the buyer a grace period of how many days.

a. 30 days and extendible for another 30 days.

b. Non-extendible period of 30 days

c. less than 60 days

d. 60 days

15. True or False. The buyer shall have the right to pay in advance any installment or full unpaid balance any time without interest payment and have such full payment annotated in the certificate of title covering the property.

16. True or False. Under the law the buyer shall have the right to sell his rights or assign the same to another person or to reinstate the contract by updating the account during the grace period.

17. Shall include any contract to buy, purchase or otherwise acquire for a valuable consideration a subdivision lot including condominium, in a subdivision or condominium project.

a. Buy and purchase

b. Sale or sell

c. Donate or alienate

d. Waive or assign

18. Subdivision project shall include the following except:

A. Residential place

B. Commercial place

C. Industrial place

D. Private place

19. Shall mean the entire parcel of real property divided or to be divided primarily for residential purposes into condominium units, including all structures.

a. Condominium Complex

b. Complex Subdivision Plan

c. Subdivision lot

d. Condominium project

20. Shall mean subdivision plan of a registered land wherein a street passageway or open space is delineated on the plan.

a. Condominium Complex

b. Complex Subdivision Plan

c. Subdivision lot

d. Condominium project

21. Enumerate the documents that must be attached to the registration statement under PD 957. (There are 4 possible Answer)

22. What information in the application for subdivision project that must be submitted by the owner or real estate dealer. Enumerate them all.

23. When is a thing considered lost? Explain.

24. Give the effect if the thing sold is lost partially. Explain.

25. Give the effect if the thing sold is lost totally. Explain. A

26. S agreed to sell and deliver to B specific goods. B refused to accept the goods on the date designated . S was so mad that he was hospitalized for a mild stroke. May S hold B liable for his hospitalization expense? Explain.

27. Enumerate the persons who are forbidden by law to acquire by purchase certain properties even at a public or judicial auction sale