11. Usual exaggerations of trade are considered as fraudulent.

TRUE

FALSE

12. Mutual promise to marry which was reduced into writing is enforceable.

TRUE

FALSE

13. Future inheritance can be sold by the future heir.

TRUE

FALSE

14. In a contract of sale, the giving of earnest money signifies that there is already a meeting of the minds between the contracting parties.

TRUE

FALSE

15. Real contracts are perfected by delivery like pledge, deposit and commodatum.

TRUE

FALSE

16. As a rule, contract entered into by a guardian on behalf of a minor is rescissible.

TRUE

FALSE

17. Statute of Fraud requires that certain executed contracts must be reduced into writing to prevent the commission of fraud.

TRUE

FALSE

18. Annulment of the contract is the proper remedy if the contract does not reflect the real intention of the parties and the element of the consent is already present.

TRUE

FALSE

19. Contract for the sale of real property regardless of its value must be in writing to be effective between the contracting parties.

TRUE

FALSE

20. Automatic transfer of ownership from the creditor to the debtor which is prohibited by law is also known as pactum commissorium.

TRUE

Option 3

FALSE

21. Caveat emptor is a warning to the sellers to be aware of what they are selling.

TRUE

FALSE