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Statement 1: In an agency to sell, the agent in dealing with the thing received, must act and is bound according to the instructions of his principal. Statement 2: A contract of sale is the same as an agency relationship. a. Only the first statement is true b. Only the second statement is true c. Both statements are true d. Neither of the statements is trueStatement 1: The vendor gives a thing in consideration for a price in money. Statement 2: In a contract of sale, one of the parties binds himself to give one thing in consideration of the other's promise to give another thing. a. Only the first statement is true b. Only the second statement is true C. Both statements are true d. Neither of the statements is true Statement 1: In a lease, the lessor transfers the possession and he may also transfer ownership. Statement 2: In a contract of sale, one of the parties binds himself to give one thing in consideration of the other's promise to give another thing. a. Only the first statement is true b. Only the second statement is true c. Both statements are true d. Neither of the statements is true Statement 1: The price fixed by a third person designated by the parties is binding upon them. Statement 2: The price is still binding even if the third person disregards specific instructions or the procedure marked out by the parties or the data given him. a. Only the first statement is true b. Only the second statement is true c. Both statements are true d. Neither of the statements is trueStatement 1: Mere inadequacy of price is not a sufficient ground for the cancellation of a voluntary contract of sale. Statement 2: A price that is so low is not a sufficient ground for the cancellation of a voluntary contract of sale. a. Only the first statement is true b. Only the second statement is true c. Both statements are true d. Neither of the statements is true