1.Statement 1: delivery (if to be made by seller) must be within a reasonable time, in the absence of express agreement

Statement 2: where the goods at the time of the sale are in the possession of a third person, the seller has not fulfilled his obligation to deliver the buyer unless and until such third person acknowledges to the buyer that he holds the goods on the buyer's behalf

a.No. 1 is true, No.2 is false

b.Both are false

c.Both are true

d.No. 1 is false, No. 2 is true

2.A sold to B his inheritance worth P1M immediately after X's death even before distribution of his inheritance. What is the status of the sale

a. valid

b. void

c. unenforceable

d. voidable

3.Which of the following statement is false?

a. dock warrant is an example of a negotiable document of title

b. In contract to sell, ownership is not transferred to the buyer upon delivery

c. the unpaid seller can exercise stoppage in transit if the buyer is insolvent and the vendor has not yet parted with the thing sold

d. the price is considered certain if it is in reference to another thing certain