REGULAR LAWS: LAW ON SALES, AGENCY, PLEDGE, MORTGAGE, ...

l. A Pledge is a collateral agreement which involves A. real property C. personal preperty B. liquid assets D. movable property 2. The following are the essential elements of a contract of sale except A. consent C. price or consideration B. determinate subject matter D. warranty against eviction 3. The ability to acquire goods and services in exchange for a promise to pay in the iture A. marketing 0. credit B. delivery D. distribution 4. A contract whereby a person binds himself to render some service or to do something in representation or in behalf of another with the consent and authority of the latter A. contract for lease of services C. contract for piece of work B. contract of agency D. contract to sell 5. In order to bind third persons, a pledge A. Must be accompanied with an Afdavit of Good Faith. B. In a private instrument showing description of thing pledged and date of pledge. C. Must be in a public instrument showing a. (leecription of the thing pledged and date of pledge I). must be recorded with the Register of Deeds 6. A sum of money deposited and part of the price indicating the perfection of a contract of sale is called A. option money B. earnest money C. Reservation money D. Down payment 7. The following may be the object of pledge, except A. All movables within the commerce of men susceptible of possession B. bill of lading C. shares of stocks D. Parcelfs of land 8. It refers to the delivery of the thing sold om hand to hand in case of movables, or the taking of possession with respect to innnovables . in the presence and with the consent of the vendor. A. actual or real delivery B. tradition constitutum possessor-loin C. traditio longs menu D. traditio brevi menu 9. This is an agency that comprises one or more specic transactions of the principal A. special agency B. general agency C. agency couched in special terms D. agency couched in general terms 10. This is a stipulation in a pledge or mortgage providing that the ownership of the thing given as security shall automatically pass to the pledgee or mortgagee upon default of the debtor constitutum possessorium pactum commissorium Legal subrogation redemption. \"3.0531? 11. The following are modes of extinguishing an agency. except A. death, civil interdiction, insanity or insolvency of the principal or agent B. accomplishment of the purpose of the agency C. expiration of the period for which the agency was constituted D. continued losses on the part of principal or agent 12. This refers to the right of a person to retain a thing until he receives payment of his claim in the cases provided by law. A. conventional pledge B. voluntary pledge C. legal pledge D. chattel mortgage 13. An unpaid seller has the following rights , except A. a lien on the goods while still in vendor's possession B. a right of stoppage in transitu C. a right of repurchase D. a right to rescind 14. If a movable property is sold separately to two or more different vendees. ownership shall belong to the person A. who in good faith first paid the purchase price in full B. who in good faith rst recorded the sale in the registry of property C. who in good faith presents the oldest title. D. who in good faith rst took possession of the property 15. A contract of sale is perfected Upon compliance with the requirements of the law as to form Upon delivery of the object of the contract upon the meeting of the minds on the thing which is the object of the contract and. upon the price upon demand .50