Please choose the correct answer, and give some explanations. Thank you!

1. Which is NOT true of revocation?

a. The principal may revoke the agency at will.

b. Revocation may be express or implied.

c. Revocation may be total or partial.

d. It is an act of the agent.

e. The agency is revoked if the principal directly manages the business entrusted to the agent, dealing directly with third persons.

2. Jose owns a sari-sari store. One day, while drinking milk tea, Jose fainted and bumped his head on the floor. He was rushed to the hospital and was in comatose for one month. While he was in a coma, Wally managed the sari-sari store. Is there a contract of agency?

a. Yes, there is a contract of agency.

b. No, there is no contract of agency.

3. Anton was allowed by his father to use the latter's land and to make improvements on it. He was also authorized to get profits from the improvements he made. One day, Anton bought certain materials needed for the improvement. Is the father liable for the payment of the materials purchased?

a. Yes, there is a contract of agency.

b. No, there is no contract of agency.

4. S and B entered into an absolute sale of a parcel of land. Until when can S repurchase the land?

a. Within 4 years from the date of the contract

b. Within 10 years from the date of the contract

c. Within 30 days from final judgment

d. Within 30 days from notice in writing by the vendor

e. None of the above

5. If two or more adjoining owners of urban lands desire to exercise the right of redemption at the same time, who shall be preferred?:

a. the owner of the adjoining land of greater area

b. should both lands have the same area, the one who first requested the redemption

c. the owner whose intended use of the land in question appears best justified

6. The following statements are true in a pacto de retro sale except:

a. The vendee a retro becomes the owner of the property subject of the sale.

b. The vendee a retro can sell or mortgage the property to a third person.

c. The vendee a retro can only sell or mortgage the property only after the expiration of the period of redemption.

d. The vendee a retro is subrogated to the vendor's rights and actions.

7. Should an agent lease any real property to another person, he must be armed with a special power of attorney if such lease is for:

a. A year

b. Less than a year

c. More than a year

d. 12 calendar months

8. If in the immediately preceding question, C did not give notice of the assignment to D, but D has actual knowledge of the assignment. If D pays C, is the payment valid as to A?

a. Yes

b. No

9. Who is bound when an agent acts without authority and is given subsequent ratification by the principal for such action?

a. Agent

b. Principal

c. Both agent and principal

d. The third person dealing with the agent

10. An agent must advance necessary funds:

a. if there is a stipulation to do so

b. regardless of principal's insolvency

c. all of these

d. none of these

11. P gave A a special power of attorney with an added stipulation exempting A from the obligation to render an account. Which is void?

a. the contract of agency

b. the stipulation exempting A

c. both of the foregoing

d. neither of the first 2 choices

12. S sold to B his land with right to repurchase. Before S could exercise his right, B died, leaving behind X & Y as his only heirs. S can exercise his right to repurchase:

a. The whole property as against X or Y

b. The whole property as against X and Y

c. Either of the above choices

d. Neither of the above choices

13. Which is NOT a condition for the exercise of the right of pre-emption or redemption of urban lands?

a. The urban land was bought merely for speculation.

b. The piece of land is so situated that it has a variety of purposes to choose from.

c. The one exercising the right is an adjacent owner.

d. The land is about to be resold, or that its resale has been perfected.

14. S and B entered into a pacto de retro sale and they stipulated that Sharon can repurchase the property at any time she has the money. Until when can S repurchase the property?

a. Within 4 years from the date of the contract

b. Within 10 years from the date of the contract

c. Within 30 days from final judgment

d. Within 30 days from notice in writing by the vendor

e. None of the above

15. Anna now manages her ice cream business entrusted to her agent, Olaf, and she deals directly with 3rd persons, The agency is extinguished by:

a. Withdrawal

b. Implied revocation

c. Dissolution

d. Accomplishment of the purpose of the agency

16. Anything of material value or usefulness that is owned by a person or company, or claims to sums which are owing:

a. Credit

b. Debt

c. Right

d. Liability

17. P gave a general power of attorney to A for the latter to convey all of his cars. P later gave X a special power of attorney to sell P's Lamborghini. What is the effect of X's SPA on A's GPA?

a. A's authority is totally revoked.

b. X may convey all of P's cars.

c. A may still sell P's Lamborghini.

d. All of the above choices.

e. None of the above choices.

18. Which is not a requisite for the exercise of the right of legal redemption of rural lands?

a. The lands must be adjacent.

b. There is alienation.

c. The piece of rural land must exceed one hectare.

d. The rural land must not be separated by brooks, drains, ravines, roads and other apparent servitudes.

19. Which is an obligation of an agent who withdraws from the agency?

a. Notify the principal

b. Indemnify the principal for damages suffered

c. Continue to act until the principal has had reasonable opportunity to take the necessary steps to meet the situation

d. All of the above

e. None of the above

20. A assigns his hereditary rights to B. What warranty does A give to B?

a. That he will inherit properties.

b. That he is a legitimate heir.

c. Both of the above choices

d. Neither of the above choices

21. S is the adjoining owner of the property of B which is rural and is less than 1 hectare. If B sold his property to X, until when can S repurchase the property from X?

a. Within 4 years from the date of the contract

b. Within 10 years from the date of the contract

c. Within 30 days from final judgment

d. Within 30 days from notice in writing by the vendor

e. None of the above

22. Agency without compensation of the agent

a. valid

b. void

23. Agency for the sale of fenced goods

a. valid

b. void

24. Agency to enter into compromise, to renounce the right to appeal from a judgment

a. valid

b. void