Country: Philippines

Topic: Sales

1.When the guardian acquires by purchase the property of his ward, the contract of sale is?

a. recissible

b. valid

c. void

d. voidable

2.B bought a vessel from S on condition that S could prove he (S) was the owner thereof by pertinent documents Before the condition was complied with, the vessel sank in a storm, S now demands the price

Statement 1. S cannot demand the price

Statement 2. The condition was never fulfilled; therefore, the contract of sale was never perfected

Statement 3. S bears the loss

a.No. 1 is false, No. 2 is true, No. 3 is false

b.All statements are false

c.No. 1 is true, No. 2 is false, No. 3 is true

d.All statement are true

3.Statement 1. Art 1484 does not apply to the sale of personal property on straight terms, a sale on straight terms being one in which the balance, after the payment of the initial sum should be paid in its totality at the time specified.

Statement 2. In a sale on straight terms, the mortgagee-seller will still be entitled to recover the unpaid balance

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