Note: JUSTIFY your paragraphs.

QUESTIONS:

1. Define the following: (20 points)

a. obligation

b. contract

c. contract of sale

d. contract of service

2. Enumerate the sources of obligations. (5 points)

3. What are the essential elements of an obligation? (5 points)

4. What are the essential elements of a contract? (5 points)

5. What are the essential elements of a contract of sale? (5 points)

6. Distinguish a contract of sale from a contract to sell. (5 points)

7. What are the characteristics of a contract of sale? (5 points)

NOTE: Make sure that your sources are from the Philippines. All books and other resources from which you derive your answers must pertain to Philippine laws.

DO NOT WRITE VERY LONG ANSWERS. ANSWER ONLY WHAT IS BEING ASKED. DO NOT GIVE EXPLANATIONS WHERE YOU ARE NOT BEING ASKED FOR ONE.