Topic: Law on sales, agency, and credit transactions

Please answer the following questions. Thank you

Question 7

In order to bind third persons, a pledge:

Group of answer choices

The chattel mortgage must be accompanied by an affidavit of good faith and recorded in the Chattel Mortgage Register.

It is sufficient that the chattel mortgage be in writing, public or private.

The thing mortgaged must be delivered to the creditor.

The chattel mortgage must be in a public instrument showing a description of the thing mortgaged and the date of the chattel mortgage.

Question 8

Yuri sold a specific laptop computer to Lee for 120,000.00 with Lee giving a down payment of 10,000.00 and promising to pay the balance in 11 equal monthly installments. Lee likewise executed a chattel mortgage on the computer and a real mortgage on his lot to secure the payment of the balance of the purchase price. After paying the first two installments, Lee defaulted in the payment of next three installments. Yuri may avail himself of any of the following remedies except to:

Group of answer choices

Foreclose the real mortgage and recover the deficiency during the foreclosure sale even if there is no agreement to that effect.

Cancel the sale.

Foreclose the chattel mortgage and recover any deficiency during the foreclosure sale if there is an agreement to that effect.

Exact fulfillment of the obligation.

Question 9

On May 1, 2015, Mara sold to Russel through a private instrument 20 sacks of corn stored in the only warehouse of Mara. On May 10, 2015, Mara delivered the keys to the warehouse to Russel. The delivery made by Mara to Russel is known as:

Group of answer choices

Symbolic delivery by tradition clavium.

Constructive delivery by legal formalities.

Traditio longa manu.

Traditio brevi manu.