Wednesday, October 12, 2011

Sales MCQ (1-10)

1. The buyer has a right to the fruit of the thing from the time the

a. Thing is delivered
b. Contract is perfected
c. Obligation to deliver the thing arises
d. Fruits are delivered


2. Shaolo sold to Balo his land worth P2,000,000 for P1,500,000 only, thus resulting to inadequate price. The sale is:

a. Rescissible
b. Voidable
c. Unenforceable
d. Valid


3. A characteristic of a contract of sale which involves exchange of value

a. Commutative
b. Nominate
c. Bilateral
d. Consensual


4. A case where a contract of sale must not necessarily be in writing

a. Sale of 100 piculs of sugar at P400 per picul when there is partial delivery.
b. Sale whereby its term cannot be performed within one (1) year from the making thereof.
c. Sale of land.
d. Sale at public auction.


5. Which of the following obligations of the vendor cannot be waived?

a. To allow the buyer to examine the goods sold.
b. To transfer the ownership to the buyer.
c. To pay the expenses of the deed of sale.
d. To warrant the things sold.


6. Ownership of the thing sold is transferred/ acquired/ retained:

a. Retained by the seller in "sale or return"
b. Transferred to the buyer upon constructive or actual delivery of the thing sold.
c. Acquired by the buyer upon perfection of the contract.
d. Transferred to the buyer upon acceptance of the price.


7. One of the following is not an alternative remedy available to a seller of personal property on installment if buyer defaults.

a. To go to court and ask the court to order delivery of the property.
b. To foreclose the chattel mortgage.
c. To sue for specific performance.
d. To take possession of the property and forfeit the amount paid by the buyer.


8. The following, except one, are the alternative remedies available to the buyer in case of breach of warranty by the seller.

a. Keep the goods and ask for damages.
b. Refuse to accept the goods and ask for damages.
c. Rescind the sale and retain the goods.
d. Keep the goods and set up against the seller by way of recoupment in price.


9. The sale shall not be presumed to be an equitable mortgage when?

a. The price of the sale is usually adequate.
b. The vendor remains in possession of the thing sold.
c. The vendor allows the extension of time to repurchase the thing sold.
d. The purchaser retains for himself a part of the purchase price.


10. If redemption is made, which of the following will not be paid by the seller to the buyer?

a. Price paid by the buyer.
b. Expenses in the execution of the sales contract paid by the buyer.
c. All necessary expenses on the thing sold and to be redeemed.
d. Interest on the price paid by the buyer.


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