Beruflich Dokumente
Kultur Dokumente
Toggle navigation
iCPA
Lessons
Hoppy
Test
Challenge
Community
Hi debit_j!
270 ePoints
https://www.icpa.ph/review/session/824350 1/6
7/19/2018 Quiz | iCPA
Log Out
Result
You correctly answered 15 out of 20 questions with an accuracy of 75.0%.
Question #1
In sale of real estate for a lump sum price (LSP), the seller cannot ask for an increase in the
price even if the land is more than that stated within the boundaries.
In the sale by sample, be it understood that the bulk is like the sample.
False, false
False, True
True, true
True, false
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #2
Question #3
Question #4
Question #5
https://www.icpa.ph/review/session/824350 2/6
7/19/2018 Quiz | iCPA
An agreement to constitute a deposit is binding and is perfected from the moment there is meeting of minds.
Movable and immovable things may be the object of judicial deposit.
Both are true Only the second is true Only the first is true Both are false
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #6
A sells to B her car for P300,000 on a sale or return within 10 days after delivery. On the 5th day after delivery,
the car was lost through fortuitous event. Who bears the loss?
A under the principle of res perit domino No one because the loss was due to a fortuitous event B
and he must pay the purchase price. Both A and B jointly.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #7
Question #8
The vendor
None of the above
Is not liable to the vendee for hidden fault or defect of the thing sold if he is not aware thereof.
Is liable to the vendee for hidden fault or defect of the thing sold even if he is not aware thereof
Is liable to the vendee for hidden fault or defect of the thing sold if he is not aware thereof if stipulated.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #9
Which of the following is void if the formality prescribed by law is not complied with?
sale of land worth P1,000,000 holographic will contract of lease of house and lot for 2 years
contract of barter involving immovable property.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #10
Amador obtained a loan of P300,000 from Basilio payable on March 25, 2016. As security for the payment of
his loan, Amador constituted a mortgage on his residential house and lot in Basilios favor. Cacho, a good friend
of Amador, guaranteed and obligated himself to pay Basilio, in case Amador fails to pay his loan at maturity.
If Amador sells his residential house and lot to Diego, can Basilio foreclose the real estate mortgage?
Yes, Basilio can foreclose the real estate mortgage because real estate mortgage creates a real right that
attaches to the property. No, Basilio cannot foreclose the real estate mortgage. The sale confers ownership on
the buyer, Diego, who must therefore consent. No, Basilio cannot foreclose the real estate mortgage. To
deprive the new owner of ownership and possession is unjust and inequitable. Yes, Basilio can foreclose the
real estate mortgage. It is binding upon Diego as the mortgage is embodied in a public instrument.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
https://www.icpa.ph/review/session/824350 3/6
7/19/2018 Quiz | iCPA
Question #11
Question #12
Sale is a consensual contract; therefore delivery or payment is not essential for perfection.
If two or more adjoining owners desire to exercise the right of redemption at the same
time, the owner of the adjoining land of smaller area shall be preferred; and should both
lands have the
Question #13
Question #14
Which phrase most accurately completes the statement. Any third person who induces another to violate his
contract
shall not be liable for damages if the parties are in pari delicto shall not be liable for damages to the other
contracting party. shall be liable for damages to the other contracting party. shall be liable for damages
only if he is a party to the same contract.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #15
Gary is a tobacco trader and also a lending investor. He sold tobacco leaves to Homer for delivery within a
month, although the period for delivery was not guaranteed. Despite Garrys efforts to deliver on time,
transportation problems and government red tape hindered his efforts and he could only deliver after 30 days.
Homer refused to accept the late delivery and to pay on the ground that the agreed term had not been complied
with.
As lending investor, Gary granted a P1,000,000 loan to Isaac to be paid within two years from execution of the
contract. As security for the loan, Isaac promised to deliver to Gary his Toyota Innova within 7 days, but Isaac
https://www.icpa.ph/review/session/824350 4/6
7/19/2018 Quiz | iCPA
failed to do so. Gary was thus compelled to demand payment for the loan before the end of the agreed two-year
term.
Can Gary compel Isaac to pay his loan even before the end of the two-year period?
Yes, Gary can compel Isaac to immediately pay the loan. Non-compliance with the promised guaranty or
security renders the obligation immediately demandable. Isaac lost his right to make use of the period. Yes,
Gary can compel Isaac to immediately pay the loan. The delivery of the Toyota Innova is a condition for the
loan. Isaacs failure to deliver the car violated the condition upon which the loan was granted. It is but fair for
Gary to demand immediate payment. No. Gary cannot compel Isaac to immediately pay the loan. The
delivery of the car as security for the loan is an accessory contract; the principal contract is still in the P1 million
loan. Thus, Isaac can still make use of the period. No, Gary cannot compel Isaac to immediately pay the
loan. Equity dictates that Gary should have granted a reasonable extension of time for Isaac to deliver his Toyota
Innova. It would be unfair and burdensome for Isaac to pay the P1 million simply because the promised security
was not delivered.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #16
A clause in a contract to sell allowing unilateral automatic rescission on the part of the
seller in the event the buyer fails to pay any of installments is due valid.
False, false
True, true
False, True
True, false
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #17
S sells to B his 2013 Cougar car, and leaves to B determine the price. B refuses to fix the price but took the car
for his use. Which of the following statements is correct?
No sale, because the price is not fixed by the parties.
No sale until a third person fixed the price.
There is a sale, B must pay a reasonable price.
S may go to court and ask for damages.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #18
S offers to B 100 radio sets for P50,000 payable in 30 days with 10% interest per annum. B cables S to advise
that he accepts provided the interest is reduced 5%. If S and B are both merchants and there is no further
communication between them relating to the terms, then
The contract is formed incorporating only the terms of S.
B has made a counter offer
The contract is perfected with B's reduced interest rate becoming part of the agreement.
None of the answers are correct.
Regulatory Framework for Business Transactions - Contract of Sales (Average)
Question #19
https://www.icpa.ph/review/session/824350 5/6
7/19/2018 Quiz | iCPA
Question #20
A sold B's with the authority to sell but sold it in his (A's) name. The contract is:
Voidable
Valid
Void
Rescissible
Unenforceable
Regulatory Framework for Business Transactions - Contract of Sales (Average)
×
Aww man!
Whoa! There seems to be something wrong with this question. Why don't you tell us?
Problem Type:
[Quiz Item] Grammatical/Spelling Errors
Description (Optional):
Close Submit
https://www.icpa.ph/review/session/824350 6/6