Topic: Law on sales, agency, and credit transactions

Please answer the following questions. Thank you

Question 29

Anna bought from Ayala Land Properties, Inc. a 1,000 square-meter located beside the NAIA on which he intended to construct a warehouse condominium. The terms of the sale provided for the payment of the contract price of 300,000.00 in 60 equal monthly installments of 5,000.00 each. After having been paid 36 installments, Anna defaulted in the payment of the succeeding installments. As a consequence, Ayala Land cancelled the sale. Anna now wants to claim the return of the cash surrender value of the payments he had made pursuant to the "Maceda Law". Is Anna entitled?

Group of answer choices

Anna is entitled to a cash surrender value of 50% of 180,000.00, or 90,000.00 under the Maceda Law.

Anna cannot invoke the Maceda Law for the return of any of the payments she had made for the lot she purchased.

Anna is entitled to a cash surrender value of 55% of 180,000.00, or 99,000.00 under the Maceda Law.

Anna is entitled to a cash surrender value of 90% of 180,000.00, or 162,000.00 under the Maceda Law.

Question 30

A real mortgage:

Group of answer choices

Creates encumbrance on real property.

Confers ownership of the mortgaged property in the mortgagee upon default of the debtor if the parties stipulated about it.

Confers ownership of the mortgaged property in the mortgagee upon its constitution.

Confers ownership of the mortgaged property in the mortgagee if the principal obligation it secures is not paid on due date.

Question 31

On January 1, Mae sold to Angel a specific ring for 15,000.00. The parties agreed that Mae shall deliver the ring to Angel on January 5, While Angel shall pay the price on January 7.

Group of answer choices

The contract is perfected on January 7, when the price is paid, since both parties would by then have performed their obligations in the contract.

The contract is perfected on January 5, when the ring is delivered by Mae to Angel.

There is no perfected contract because the sale was made orally.

The contract is perfected on January 1, when the parties had a meeting of minds on the object and the price.