1. Statement I: Commission del credere is the compensation of a factor agent. Statement II: An agent acting with authority and in his principal's name may be liable if he personally bound himself as to such act or transaction.

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.

2. Statement I: Assignment of credits is unilateral, gratuitous and innominate. Statement II: The consent of the debtor to the assignment of credit is not required

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.

3. Statement I: A special power of attorney is an instrument in writing by which one person appoints another as his agent and confers upon him all authority to act on his behalf. Statement II: In both agency by estoppel and implied agency, there is intention to create an agency and the agent acquires all rights and liabilities of a duly appointed agent.

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.

TRUE OR FALSE

1. If notice of the fact of agency is done through publication, then the revocation of said agency must also be by publication.

2. The assignor of credit is responsible for the existence and legality of the credit and the solvency of the debtor at the time of the sale. (True or False)

3. An assignor in bad faith is liable not only for the payment of the price and all the expenses but also for damages. (True or False)

4. Payment to the original creditor is valid and the debtor shall be released from his obligation even if payment was made after notice to the debtor of the assignment of credit. (True or False)

5. In bulk sales, the vendor must make a full detailed inventory showing the quantity and the cost price of the goods at least five (5) days before the sale.

6. Barter is governed by the provisions of the New Civil Code on the law on agency