I. Choose the letter of the correct answer

1. A consideration which is separate and distinct from the purchase price.

a. Option Money

b. Earnest Money

c. Arras

d. None of the above

9. A characteristic of sale which provides that it is perfected by mere meeting of the minds of the parties over the object and the over the price.

a. Relativity

b. Mutuality

c. Consensuality

d. Obligatory

e. Independence

6. A contract which is completely fictitious or make-believe and the parties have no intention to be bound by the contract.

a. Inexistent contract

b. Fictitious contract

c. Absolutely simulated contract

d. Relatively simulated contract

15. An amount advanced by the prospective buyer for the purpose of keeping the period of acceptance open for the prospective buyer up to the last day.

a. Arras

b. Option Money

c. Down payment

d. Consideration

3. The principle that will generally apply in case of loss of the object of the subject matter of the sale.

a. Nemo dat quod non habet

b. Res alicujus

c. Res Communes

d. Res perit domino

e. Res judicata

4. A contract of sale with a right to repurchase by the seller.

a. Pactum Commissorium

b. Pacto sunct servanda

c. Pacto de Retro

d. Repurchased sale

14. It refers to the gross inadequacy of the consideration.

a. Insufficient price

b. Liason

c. Lesson

d. Lesion

8. An outright sale without any condition imposed.

a. Sale

b. Conditional sale

c. Absolute Sale

d. None of the above

10. A sale where its perfection depends upon the fulfillment of a contingency.

a. Absolute

b. Partial

c. Relative

d. Conditional

2. An unaccepted unilateral promise to buy or to sell.

a. Unperfected contract of sale

b. Politicsinaction

c. Policitation

d. Unilateral buy or sale

11. An object of sale which has been particularly designated and physically segregated out of a particular class

a. Absolute

b. Conditional

c. Specific

d. Generic

5. A public sale where items are sold to the highest bidder.

a. Bidding

b. Auction sale

c. Storage wars

d. None of the above

13. Condition the happening of which will extinguish the validity and effectivity of the sale.

a. Potestative

b. Suspensive

c. Resolutory

d. Executory

12. Goods which are to be manufactured or raised or acquired by the seller after perfection of the sale

a. Emption spei

b. Emptio rei speratae

c. Future goods

d. Commodities

7. A contract where the consideration is partly in money and partly in another thing, wherein its nature shall be initially determined by considering the intention of the parties.

a. Partial sale

b. Conditional sale

c. Exchange

d. Donation

II. Choose whether the contract is VALID, RESCISSIBLE, VOIDABLE, UNENFORCEABLE or VOID/INEXISTENT

3. An oral sale of a car worth P500,000.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

10. Sale of the guardian of the property under guardianship for a price which is 50% more than the prevailing market price.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

14. Sale of a real property executed by an inmate of the National Bilibid Prisons who was convicted with finality of the crime of rape with homicide.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

12. Purchase made by an administrator of the property under his administration in a public auction sale where he has paid a valuable consideration thereof.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

7. A sale by the husband in favor of his own wife an undivided portion of their common property.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

15. Sale of a real property executed by an inmate of the National Bilibid Prisons who was convicted with finality of the crime of rape with homicide in favor of another inmate who is likewise convicted with finality of the crime of robbery with homicide.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

1. A verbal sale of a house and lot

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

5. A sale by the husband of their common property without the consent of the wife.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

11. Sale by a minor of his own property in favor of his own guardian.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

4. A sale by the husband of the paraphernal property of the wife without her consent.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

2. A sale of an undivided portion of the Baguio Athletic Bowl.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

13. Sale of a residential condominium unit executed by Hankyung Hanhaus Incorporated - a Filipino Corporation - in favor of a Korean Citizen.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

6. A sale by the husband of his capital property to his own wife who then paid a valuable consideration thereof.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

8. Sale of a House and Lot located in Petersville Subdivision in favor of a Korean Citizen.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

9. Sale of the guardian of the property under guardianship for a price which is 50% less than the prevailing market price.

a. Valid

b. Rescissible

c. Voidable

d. Unenforceable

e. Void/Inexistent

III. Answers should be direct to the point and explain it well

1. Anton offered to sell his house to Bart who was interested in buying the same for P200,000.00. In his letter to Bart, Anton stated that he was giving Bart a period of one month within which to raise the amount and that as soon as Bart is ready, they will sign the Deed of Sale. One week before the expiration of the one-month period, Anton went to Bart and told him that he is no longer willing to sell the property unless the price is increased to P250,000.00. May Bart compel Anton to accept the P200,000.00 first offered, and execute the Deed of Sale? Reason

3. Omar, owner of a copying machine leased it to Lisa at a rental of P4,000.00 a month for a period of one year with option on the part of Lisa to buy the copying machine at the end of one year for P80,000.00. to be paid by applying the rentals, so that Lisa needs only to pay P32,000.00.Lisa failed to pay the rentals for the 4th, 5th and 6th months so that Omar terminated the lease and repossessed the copying machine, then sued Lisa for the unpaid rentals of three months or P12,000.00.IsOmar's suit legally tenable? Explain.

2. Footsmell Shoe Store, Inc. entered into a separate contracts with two rising movie stars, namely Anton and Bart. With Anton, the agreement was that the shoe store shall deliver at a specified date for the price of P10,000.00 a pair of Mikee Shoes which the store has been manufacturing for the general public but which at the time of the contract had already been sold out, and with Bart, the agreement was that the shoe store shall deliver at a specified date for a price of P20,000.00 a pair of shoes to be made specially for him, in accordance with a design submitted by him. What is the nature of these two contracts? Explain.

4. Atty. Larry Gadon has barely passed the Bar Examination. This however did not deter him to venture into the private practice of law. To attract clients in his law office, he decided to purchase several law books so that he will have something to display in his library. He then purchased in an installment basis from Phoenix Publishing Company several law books including a complete set of Supreme Court Reports Annotated. As a result, Phoenix Publishing Company expressly reserve the ownership of the said books despite its actual delivery to Atty. Gadon. A day after the books were delivered, the building housing his office and library was gutted by fire, burning the books that were earlier delivered. On the due date, Phoenix Publishing Company demanded from Atty. Gadon the payment of his balance, however he refused to pay it since he then contended that he was not yet the owner of the books at the time it was delivered as the Publishing Company made reservation of ownership despite its delivery. Rule on the contention of Atty. Larry Gadon.