One of the following statements on the transfer of ownership of the thing in "sale

on trial" is incorrect. What is it?

a. Ownership of the thing is transferred to the vendee when he signifies his approval

or acceptance to the vendor.

b. Ownership of the thing is transferred to the vendee when he does an act adopting

the transaction.

c. Ownership of the thing is transferred to the vendee if the time fixed for the return

of the thing has expired and the vendee retains the thing without givng notice of

rejection or acceptance to the vendor.

d. Ownership of the thing is transferred to the vendee upon delivery.

S promised to sell his car to B for P200,000.00 giving B 30

days to decide. B accepted the promise of S and informed S

that he (B) would make known his decision before the lapse of

30 days. He also gave S P2,000.00 as consideration so that S

would hold on to his promise. The contract entered into

between S and B and the consideration given by B to S are

known as:

a. Option contract and option money, respectively.

b. Contract of sale and earnest money, respectively.

c. Contract of sale and down payment, respectively.

d. Contract to sell and reservation money, respectively

BongBang bought a residential house and lot from Sta. Robreda for Php25M giving a down payment of Php10M and promising to pay the balance of Php14M in 20 years in monthly installments of approx. Php60,000. After paying 72 installments, BongBang defaulted in the payment of the 73rd installment and subsequent ones. Despite the grace period he had earned, he was not able to make any further payments. Accordingly, Sta. Robreda cancelled the sale. How much cash surrender value is BongBang entitled to receive?Required to answer. Single choice.

a. 7,160,000

b. 9,320,000

c. 14,320,000

d. 7,518,000