Reference no: EM133209383
Assignment:
Bernardo entered into a contract with Superstar Sporting Goods Corporation (Superstar), a sports apparel manufacturer which supplies sporting goods to department stores, for the delivery of basketball uniforms for Bernardo's basketball team. Bernardo provided the design that included the name of the team and the name of and the assigned number to each player on the uniforms. The contract was for P3.000.00 for each of the 12 players' uniforms. Although the uniforms have been completed, no payment has yet been made by Bernardo. Neither was there delivery of the uniforms made by Superstar. The contract between Superstar and Bernardo is a:
O Contract to sell.
O Contract for a piece of work.
O Contract of consignment.
O Contract of sale.
Obtained a 6%-interest bearing, loan of P500,000.00 from C. The debt, which is due on May 31, 2022, is secured by a mortgage constituted on D's commercial lot. Based on the foregoing facts, which of the following is a not valid stipulation between the parties?
O A stipulation that D and C shall execute a deed whereby C shall buy the mortgaged property upon D's default.
O A stipulation that the C automatically becomes the owner of the mortgaged lot upon the D's default.
O A stipulation that C shall be given a special power of attorney to institute extra-judicial foreclosure proceedings of the mortgage upon D's default.
O A stipulation that D shall convey the ownership of the mortgaged lot to C by way of dacion en pago upon D's default.
Which of the following is not a valid negotiation of an order document of title?
O When it is indorsed to bearer.
O When it is delivered to the transferee.
O When it is indorsed in blank
O When it is indorsed to a specifed person.