FORMAT ON THE ANSWER

A. LAW

B. the facts as stated in the problem in RELATION TO THE LAW CITED

C. ANSWER

Example:

A. Art. 1315. Contracts are perfected by mere consent, and from that moment the parties are bound not only to the fulfillment of what has been expressly stipulated but also to all the consequences which, according to their nature, may be in keeping with good faith, usage and law.

B. In this case, the contract was perfected on January 2, 2021, precisely at the moment that Mr. Macho accepted Ms. Shrimp's offer and promised to buy the harvest. It was not perfected on January 1, 2021 because there was only an offer on that date which was not yet accepted. It was also not perfected on January 3, 2021 because perfection takes place by the concurrence of consent, not with the execution of a contract in writing.

C.Hence, the correct statement is letter B. The contract of sale between Ms Shrimp and Mr. Macho is perfected on January 2, 2021

Choose the correct statement and explain

Problem 1: Ms. Shrimp has a rice field covered by certificate of Title No. 1691. She offers to sell whatever may result or whatever may be harvested from the particular rice field to Mr. Macho in the amount of Php 400 on January 1, 2021. On January 2, 2021 Mr. Macho promises to buy the harvest for Php 1000 from Ms. Shrimp. On January 3, 2021 the parties reduced the contract in writing. On January 4, 2021, they have the contract notarized. Payment is demandable on January 8, 2021. Harvest is expected the latest on January 8, 2021.

On January 5, 2021 Ms. Shrimp offers to sell whatever may result or whatever may be harvested from the particular rice field for Php 400 to Mr. Gwapo. Mr. Gwapo signifies that he will decide within 2 days whether he accepts the offer or not and pays Ms. Shrimp Php 5.00 as consideration which was accepted by the latter. On January 6, 2021 Mr. Gwapo accepts the offer. The contract of sale was reduced in writing and signed by Ms. Shrimp and Mr. Gwapo on January 7, 2021. Payment is demandable on January 8, 2021. Harvest is expected the latest on January 8, 2021.

On January 8, 2021 the rice field yields 1000 sacks of rice. Fair market value of the rice as of that time is Php 1,000 per sack.

6. Chose the correct statement: As between Ms. Shrimp and Macho as of January 4, 2021

a. There is an absolute contract of sale

b. there an absolute contract but not a contract of sale

c. there is a conditional contract of sale

d. there is a voidable contract of sale

7. Chose the correct statement: As between Ms. Shrimp and Macho if there was a typhoon which destroyed the field including everything which grows on it on January 6, 2021:

a. the contract is extinguished

b. the contract is still existing

c. the contract may be annulled

d. the contract may be voided

8. Chose the correct statement: As between Ms. Shrimp and Macho if there was a typhoon which destroyed the field including everything which grows on it on January 6, 2021:

a. Ms. Shrimp could still demand for the full price

b. Ms. Shrimp not demand for the price

c. Ms. Shrimp still demand for the price but with proportionate reduction as to what is destroyed.

d. Ms. Shrimp could not demand for the price for typhoon is a foreseen event hence not fortuitous.

9. Chose the correct statement: As between Ms. Shrimp and Mr. Macho if there was a typhoon which destroyed the field including everything which grows on it on January 6, 2021

a. Ms. Shrimp will still be liable for the rice for the rice is generic

b. Ms. Shrimp will still be liable for the rice for this is a case of double sale

c. Both a and b

d. Ms. Shrimp not liable to deliver the rice

10. Chose the correct statement:

a. a contract of sale between Ms Shrimp and Mr. Gwapo is perfected on January 5, 2021

b. a contract of sale between Ms Shrimp and Mr. Gwapo is perfected on January 6, 2021

c. a contract of sale between Ms Shrimp and Mr. Gwapo is perfected on January 7, 2021

d. there is no perfected contract of sale between Ms Shrimp and Mr. Macho

11. Chose the correct statement: As between Ms. Shrimp and Mr. Gwapo

a. this is a conditional contract of sale

b. this is a pure contract of sale

c. this a voidable contract of sale

d. there is no contract of sale

12. Chose the correct statement: As between Ms. Shrimp and Mr. Macho the object of the contract as of January 6, 2021

a. has potential existence

b. mere hope

c. vain hope

d. existing

13. Chose the correct statement: As between Ms. Shrimp and Mr. Macho as of January 6, 2021 the status of the contract

a. void because of gross inadequacy of price

b. voidable because of gross inadequacy of price

c. rescissible because of gross inadequacy of price

d without defect

14. Chose the correct statement: As between Ms. Shrimp and Mr. Macho as of January 6, 2021

a. There is a contract

b. there is no contract

c. the contract is void

d. the contract is voidable

15. Chose the correct statement: As between Ms. Shrimp and Mr. Macho if there was a typhoon which destroyed the field including everything which grows on it on January 6, 2021:

a. the contract is extinguished

b. the contract is still existing

c. the contract may be annulled

d. the contract may be voided