Reference no: EM132994000

Questions -

Q1. Lilac is a lessee of a store in a shopping mall. She orally sells/assigns her right to Sam. She then allows Sam to occupy the stall. The delivery here is called

a. Quasi-traditio

b. Actual delivery

c. Traditio longa manu

d. Traditio brevi manu

Q2. Alistair and Barry entered into a "contract to sell" in private writing involving a specific parcel of land worth P2 million. Barry paid 50% of the purchase price, balance payable in 3 years. Alistair delivered the land to Barry. What is the effect of the delivery of the land to Barry?

a. Barry is the owner because there was delivery already.

b. Barry can compel Alistair to execute a deed of sale in a public instrument.

c. The partial payment made Barry the owner of the land.

d. Alistair is still the owner because the price is not yet totally paid.

Q3. Sammy offered his car to Bammy with the understanding that the price shall be at the discretion of Bammy. As agreed upon, Bammy fixed the price at P350,000 although its fair market value was P250,000 only. It is clear therefore that the price fixed is beneficial to Sammy. Before acceptance of the price by Sammy, is there already a sale?

a. No perfected sale as there was no consent on the price.

b. There was a perfected sale, the amount was already fixed by the buyer and will surely be accepted by the seller.

c. Yes, because the fixing of the price by Bammy is properly authorized by Sammy.

d. Yes, but it is voidable due to mistake committed by Bammy in the fixing of the price.