Topic: Law on sales, agency, and credit transactions

Please answer the following questions. Thank you

Question 40

I. Incorporeal rights such as shares of stock may be the object of pledge.

II. Pledge shall extend to the fruits of the thing pledged unless there is a contrary stipulation.

Group of answer choices

Only Statement II is true.

Both statements are false.

Only Statement I is true.

Both statements are true.

Question 41

Under Article 1484 of the Civil Code (Recto Law), In a contract of sale of personal property, the price of which is payable in installments, the vendor may exercise any of the following remedies, except:

Group of answer choices

Exact fulfillment of the obligation, should the vendee fail to pay.

Demand for the full payment.

Cancel the sale, should the vendee's failure to pay cover two or more installments.

Foreclose the chattel mortgage on the thing sold, if one has been constituted, should the vendee's failure to pay cover two or more installments. In this case, he shall have no further action against the purchaser to recover any unpaid balance of the price. Any agreement to the contrary shall be void.

Question 42

I. In case of doubt, a contract purporting to be a sale with a right to repurchase shall be construed as an equitable mortgage.

II. The buyer may suspend the payment of the price of the thing purchased by reason of trespass on the thing.

Group of answer choices

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.