Which of the following statements is NOT true about the Condominium Corporation? a.

The condominium unit owner automatically becomes a member of the corpora tion. b. It is either a stock or non-stock corporation. c. Each condominium unit owner may alienate his unit without other owners b eing notified. d. It follows rules on co-ownership. Answer. C Are electronic data/documents gathered/retrieved valid or legally recognized? Ex plain the legal basis. A. Yes as provided by RA# 8792 or otherwise known as Electronic Commerce Ac t of 2000, w/c provides (Please refer to legal recognition of data messages and e lectronic documents). _________ is the department secretary who is the executive officer who implement s the Public Land Act. a. OBM Secretary c. Presidential Secretary b. MGB Director d. DENR Secretary Answer. D Enumerate and explain the modes of disposition under CA 141. A condominium corporation shall not, during its existence except a. sell b. exchange c. lease d. usufruct Answer. D Who are qualified for the transfer or conveyance of a unit or space in the commo n areas in a condominium project? a. Filipino Citizens b. Corporation at least 60% of the stock of w/c belong to Filipino citizens , except in cases of hereditary succession. c. The alien interests in such corporation exceed the limits imposed by exi sting laws. d. All of the above. Answer. A Sale of public agricultural lands as one of the nods of disposition can be made through with the following conditions: a. The sale is governed by the Public Land Act or RA 141. b. Not to exceed 500 has, though sealed bidding c. The purchaser is required to have cultivated at least 1/5 of the land w/ i 5 yrs. from the date of bidding d. None of the above Answer. D What is the coverage of Electronic Commerce Act of 2000? Answer. The Act shall apply to any kind of data message and electronic document used in the context of comml and non-comml activities to include domestic & international dealings transactions, arrangements, agreements, contracts, and exchanges and storage of information. If you are an a. b. c. d. owner of a condominium unit, automatically you are considered as; Stockholder Shareholder Board of Director Part owner in the condominium

Answer. A What are the modes of disposition of public land suitable for agricultural purpo ses? a. Homestead Settlement b. Lease c. Sale d. Mortgage Answer. D When can a third person access an electronic file or document of another person? Who has a sole prerogative in the classification of land as provided in the Publ ic Land Act? a. DENR Secretary b. PENRO c. DENR Regl. Exec. Director d. President of the Phils. Answer. D What is the significance of electronic data message or electronic document in bu siness sales transaction? Which of the following is required in order that a conveyance of a condominium b e registered in the books of the registry of deeds? a. Certification from the management body b. An enabling or master deed c. Declaration of restrictions d. Notice of assessment Answer. A Are electronic data messages and electronic documents admissible as evidence in any legal proceeding?

Who exercises a. b. c. d. Answer. B

the power to re-classify lands of the public domain? DENR Executive Department Judiciary Congress

Common areas of a condominium project may be vested in ____. a. Individual Shareholders in a pro-rate share b. Developer of the Condominium c. Condominium Corporation d. All of the above Answer. C How electronic data message or information does legally recognized? All of the following are non-registrable properties, except ____. a. Forest land b. Mineral Lands c. Foreshore Lands & reclaimed lands d. Property of Public Dominion not for public use but untended for so me public service e. All of the above

f. None of the above Answer. F The provision that no condominium unit shall be conveyed or transferred to perso ns other than Filipino citizens or corporations at least 60% of the capital stoc k of w/c belong to Filipino citizens is absolute. a. True as provided in Sec.5 of RA 4276. b. False, there is an exception in cases of hereditary succession as provid ed for in Sec.5 of RA 4726. c. True because the exception is only applicable for corporations. d. False, because the required capital stock for Filipino citizens should b e 50%. Answer. B A part of the condominium project intended for any type of independent use or ow nership located in one or more floors in a building. a. Common areas b. Project c. Unit Answer. C Lands of public dominion, except: a. Timber land b. Agricultural Land c. Mineral Land d. ??????????????????????? Answer: B Magelle sold a pair of earrings to Sheila, who paid for the item before delivery . Upon delivery by Magelle, however, she lost one earring and she could not find it no matter how hard she tried. What is sheilas best remedy? a. Accept the delivery of the remaining earring and ask for return of half the price paid b. Demand that another earring be delivered c. Withdraw from the contract because the partial loss is so important as t o extinguish the obligation d. Seek the opinion of the court first Answer. C The following are valid commands in a negotiable document, except: a. Deliver to bearer b. Deliver to the order of Juan de la Cruz c. Deliver to Juan de la Cruz or his order d. Deliver the order to Juan de la Cruz Answer. D All of the following statements are true, except? a. If negotiable document of title may be negotiated by delivery or by indo rsement. b. If non-negotiable document is indorsed, the transferee acquires addition al rights. c. A non-negotiable is by the terms of which the goods are delivered to a s pecific person. d. A non-negotiable document cannot be negotiated by the holder. Answer. B The following except one is false. a. The assignee-buyers title to the goods is preferred even against the owne r who can no longer recover the goods if neither lost nor been unlawfully depriv ed of the goods.

b. If the assignor-seller had no title to the good sold, the assignee-buyer receives no title even if the goods are delivered to him under nemo dat quod ho n habet. c. The possession of the movable property acquired in good faith is equival ent to title is absolute and has no exception. d. The owner may recover against the assignee-buyer even when the latter is in good faith & bought for value if the owner had lost the goods or been unlawf ully deprived thereof. Answer. C

What is the effect of the absence of formal deed of sale in the sale of personal property? a. null and void b. unenforceable c. voidable d. valid Answer. D It is a stage in the formation of sale w/c signifies the right to choose with wh om to contract and what to contract. a. Perfection b. Consummation c. Policitation d. Right of first Refusal Answer. C In order for an acceptance to have the effect converting an offer to sell into p erfected contracts, it must be a. with a resolutory condition b. absolute c. negotiable d. coupled with a correlative condition or promise Answer. B When is the acceptance of the offer be considered binding? a. The acceptance of offer must be with payment to support an option contra ct. b. The acceptance of offer must be with the payment of a consideration to s upport an option contract. c. The acceptance of offer must be unqualified and absolute. d. The acceptance of offer must be qualified and absolute. Answer. C Rights of the offeror, except: a. withdraw or destroy the offer b. has the right to attach conditions he derives, fix the time, places & ma nner of acceptance c. make a counter-offer d. choice to reject a portion of the offer w/c is not beneficial Answer. C A offered to sell to B a parcel of land thru a letter. B replied with a letter, signif ying his acceptance of the offer. However, the letter was lost by the mailman. W as the sale perfected? a. Yes, because B already signified his intent thru letter b. Yes, because there was already a constructive acceptance by B

c. No, because a letter is not enough to signify acceptance d. NO, because such acceptance was not yet known by the offeror. Answer. D The delivery of an incorporeal property having no physical existence can only be effected by: a. actual delivery b. tradition longa manu c. constructive delivery d. symbolic delivery Answer. C It is the delivery of a thing merely by agreement, such as when the seller point s the property, subject matter of the sale, by way of delivery without need o ac tually delivering physical possession thereof. a. Traditio longa manu b. Traditio brevi manu c. Symbolic delivery d. Constitutum possessorium Answer. A

A bought an airplane from B, who promised to deliver it thru C, a licensed pilot emplo yed by B. On his way to As place, however, C drove the plane into a misty mountain, ki ling himself. Was the sale consummated? a. Yes, the loss of the airplane was force majeure b. Yes, B has already satisfied his obligation, although C crashed the plane c. No, the airplane was not delivered d. NO, the heirs of C is compelled to deliver Answer. C The absence of a written or formal instrument to reflect the sale is an indicati on that the seller did not intend to immediately transfer the ownership of the p roperty even if the buyer has already made partial payment. a. False. The price has already been paid hence acceptance of such by the s eller implies transfer of ownership b. True. There is delivery only when there is in an intention to transfer o wnership through the execution of a public instrument even if the selling price has not been paid whether wholly or partially c. False. Absence of a written or formal instrument is immaterial d. True. The execution of a public instrument is an indispensable requireme nt Answer. B

If the thing is totally lost before or at the time of the perfection of the cont ract of the sale, a. the contract shall be rescinded b. the contract shall be void c. the buyer may demand the delivery of the thing d. the seller can still demand payment and insist the contract still valid Answer. B Earnest money is: a. Ill give you P5,000, & you will give me one week to buy that land covered by TCT#138; b. Out of the total purchase price of P500,000. Ill give you now P55,000 an d on or before end of this week, Ill give you the full payment. c. Ill pay you in full amount of P200,000, if you will give me one week afte r today and in consideration of P100,000, before you will decide to deal your la

nd w/ others. d. ???????????????????????? When only one prestation has been agreed upon, but the obligor may render anothe r in substitution, the obligation is called; a. Alternative b. Facultative c. Consultative d. Substantive Answer. B Constructive delivery applicable to incorporeal property except: a. When sale is made through a public instrument, the execution ther eof is equivalent to the delivery of the thing which is the object of the contra ct, if from the deed the contrary does not appear or cannot clearly be inferred. b. By the placing of the title of ownership in the possession of the buyer. c. The use & enjoyment by the buyer of the nights pertaining to the corporeal property with or w/o the sellers consent. Answer. C Who bears the loss if the ownership remains in the seller merely to secure the p erformance of the buyers obligations under the contract of sale? a. Seller b. Buyer c. Both seller & buyer Answer. B The seller of goods already shipped the goods for delivery, but he called the sh ipper to hold its delivery. He The Seller retains the title of the goods for the purpose of securing the payment of the price, the risk of loss or deterioration is on. a. The seller, since he retains the title of the goods b. The buyer, since the goods are already delivered to the carrier. c. The carrier, since he is bound to deliver such goods. Answer. B Under the subdivisions and condo buyers Protective Decree (PD957) , this type of lot is bounded on two opposite sides by roads: a. through lot b. interior lot c. corner lot d. irregular lot Answer. A Agency of the government not a party in the approval of subdivision & condominiu m plan: a. HLURB b. DFA c. DENR d. LGU Answer. B Rights a. b. e c. d. m of vendee in Pacto De Retro Sale, except: entitled to be reimbursed for necessary & useful expenses may alienate the property subject to a resolutory condition of repurchas obligation to foreclose becomes automatically the owner of the property in case failure to redee

Answer. C No owner or dealer shall sell any disposable subdivision lot or condominium unit in the registered project without a license to sell issued by the board: a. within two weeks from the registration of each project b. after five days from completion of publication c. upon payment of prescribed fees d. within one week from submission of registration statement Answer. A Requirement in application for license to sell: a. 1 copy of vicinity map b. Zoning cert. from HLURB c. Cert. true copy of current tax receipt d. Program of development Answer. D Which of the following is not an obligation of a seller who has reserved for him self the right to repurchase the thing sold in conventional redemption? a. Return the price of the sale b. Payment for the expenses of the contract c. Payments for necessary and useful expenses made on the thing sold d. Payment for expenses incurred for the embellishment of the thing sold Answer. D

In case of doubt, a contract purporting to be sale with a right to purchase shal l be construed as what? Why? Answer. Equitable mortgage least transmission of rights If the seller has grounds to fear the loss of the immovable property sold & its price, he may immediately sue for the rescission of the sale. a. True, the seller can immediately file a case for the rescission of th e sale. b. False, the seller should have reasonable grounds, not only a mere ground for the fear of the loss of the immovable property before he can immediately sue for the rescission of sale. c. False because such reasonable ground is only applicable if the involved prope rty is movable. d. True, in order to protect interest of both the seller and the buyer. Answer. B In a lease of personal property with option to buy, being a sale in instalment, what is the consequence if the lessee fails to comply w/ the terms of payment? Answer. Lessor may elect between compliance or rescission of the obligation with indemnity for damages and interest in either case. Which of the following does not indicate equitable mortgage? a. purchasers showed more concern in getting their money back than in havin g the land subject of the sale with Pacto De Retro b. parties extended the period of redemption in Pacto De Retro sale c. fact that the price in a Pacto De Retro sale is not the true value of th e property d. vendor in a sale with right of repurchase continues to possess the prope rty as lessee or otherwise Answer. C Differentiate the Recto Law from the Maceda Law. (Essay)

Convention redemption, except a. vendor shall return the price of the sale b. vendor shall shoulder the expenses of the contract c. it needs a separate consideration in order to be valid & effective d. redemption period w/in 10 years Answer. C Why does the stipulation on the right to repurchase in a separate document binds and valid only between the parties? The following transactions are covered by Maceda law, except: a. sales covering industrial lots b. contracts to sell c. sales to tenants under agrarian reform laws d. sales covering commercial buildings Answer. B What is the effect of suspension of payment to the right of buyers and seller as to the ownership of the thing subject of the sale? And when can payment are sus pended by the buyer and/or seller? What are the remedies of the seller in case where the ownership of the good has passed to the buyer but the latter wrongfully neglects or refuses to pay it acco rding to the terms of the contract? What are the consequences in case the vendor failed to redeem within the period agreed upon? The following are warranties of seller of documents of title: a. genuineness of the document b. possession of legal right to negotiate or transfer it c. has a right to transfer the title to the goods d. has knowledge of any fact impairing the validity of the document Answer. D It is an instrument given by dock owners to an importer of goods warehoused on t he dock as recognition of the importers title to the said goods, upon production of the bill of lading. a. dock warrant b. quedan c. warehouse receipt d. letter of credit Answer. A

As applied to sale, when what is to be delivered is a determinate thing, the buy er, in addition to the right to recover damages, may compel the seller to make t he delivery? a. True, because the underlying obligation in a sale is a real obligation & therefore may be subject to the remedy of specific performance. b. False, the buyer cannot compel the seller to make the delivery & to reco ver damages because ownership is only transferred after delivery c. False, because the determinate thing is non-fungible Answer. ???????? The effect if there is a breach of promise to buy and sell in an option contract is _____

a. the injured party can compel the other party for the performance of the contract and seek damages b. the injured party can only seek damages c. the guilty party is not obliged to pay indemnity to the injured party si nce it was only an option to do or not to do Answer. B The following requisites must be present in the applicability of article 1544(do uble sales) except: a. the vendor has an existing right over the property and power of disposal b. good faith is a mandatory requirement between parties c. there are at least 2 sales executed by the same vendor d. the sales involve the same property e. there are two or more vendees of the same property sold by the vendor Answer. B If a partial loss is suffered by the vendee, he may: a. withdraw from the contract b. demand damages c. demand performance d. demand delivery Answer. When can the seller file an action for the collection of the price against the b uyer? Answer. An action for the price or collection of the price may be filled by the seller against the buyer in 3 cases only. 1. When the ownership of the goods has passed to the buyer and he wrongfull y neglect or refuses to pay for the price according to the terms of the contract 2. When the price is payable irrespective of delivery or transfer of title, on a certain day and the buyer wrongfully neglects or refuses to pay such price 3. When the goods cannot readily be resold for a reasonable price and the b uyer refuses to receive the goods when offered for delivery-with notification th at the seller is holding them as bailee for the buyer. Can the dealer or seller directly sell the disposable subdivision lot or condomi nium unit? Why? Answer. No. Kindly copy the PD957 specifically license to sell When rescission by buyer not allowed: A. if the buyer accepted the goods knowing the breach of warranty without p rotest B. if he fails to notify the seller within a reasonable time of his electio n to rescind a. B is correct c. both A & B are correct b. A is correct d. both A & B are incorrect Answer. C When can a vendor of movable property rescind a contract of sale? Answer. The vendor can rescind the contract a. if the vendee, upon expiration of the period fixed for the delivery of t he thing purchased, refused to receive it without justifiable cause. b. If the vendee failed to pay the price unless granted a longer w/in which to pay (Art1593) All are rights of an unpaid seller, except: a. right to retain the goods as security for the payment of price b. right to resell the goods when it is of perishable nature c. right to file an action for the purchase price d. right to rescind the sale

Answer. C Rights of buyer when deprived of only part of the subject matter but would not h ave bought such part if not in relation for the whole: a. Rescission b. Mutual Restitution c. Warranty against encumbrances d. All of the above Answer. D Option of the buyer when seller delivers larger quantity of goods than what he c ontracted, except: a. Accept per contract & reject the rest b. Reject goods entirely-if indivisible c. Accept the whole-pay price stipulated d. Rescind the whole sale Answer. D

Buyer is obliged to pay interest for the period between delivery of the subject matter and the payment of the price under the following circumstances, except: a. The same has been stipulated b. Should object delivered produce fruits or income c. In case the buyer is in default from the time of judicial and extra-judi cial demand d. If the buyer, during said period, sells to another the goods received Answer. D??????????? When is the right to resell the goods applicable? a. When there is a reservation made for the buyers exercise of the right to resell in case of the sellers default in payment of the price for an unreasonable length of time. b. When there is no such reservation but the buyer has defaulted in the pay ment of the price for unreasonable length of time c. If the goods are perishable in nature. d. Both b & c. Answer. D Which of the following statement is true on the breach of contract of the part o f the seller? a. If there is lesser delivery the buyer may accept the goods delivered and he shall have no liability b. If there is large delivery the buyer may accept the goods he purchased a nd not reject the rest c. If there is mixed delivery the buyer may accept the goods w/c he contrac ted to buy and may reject the rest d. If there is larger delivery the buyer may reject the goods delivered and he shall have no liability Answer. C Which of the following case/s where implied warranty is not applicable? a. Sale made by a sheriff, auctioneer, mortgagor, pledge or other person pr ofessing to sell by virtue of authority in fact or law b. Sale under as is and where is condition. c. Sale of second hand articles carry any warranty as to the condition, ada ptation, fitness or suitability for purposes for w/c they have been purchased.

d. Sale of property sold at the public auction for deliviquency. Answer. C Can a buyer avail of rescission of a contract of sale extra judicially? If yes, cite instances where extrajudicial rescission is allowed. What are the remedies available to the buyer in case of breach of warranty by th e seller? When the buyer has claimed and been granted a remedy in any way, can h e be granted another remedy thereafter? Answer. a. Accept or keep the goods and set up against the seller, the breach of wa rranty by way of recoupment in diminution or extinction of the price. b. Accept or keep the goods and maintain an action against the seller for d amages for the breach of warranty. c. Refuse to accept the goods, and maintain an action against the seller fo r damages for breach of warranty. d. Rescind the sale and refuse to receive the goods or if the goods have al ready been received, return them or offer to return them to the seller and recov er the price or any part thereof w/c has been paid. No, when the buyer has claimed and been granted a remedy in any of these ways, n o other remedy can thereafter be granted. Art.1544.If the same thing should have been.Should there be no inscription.the per son who represent the oldest title provided there is good faith is applicable wh en a. There are two different contracts of sale made by two different persons , one of whom not being the owner of the property sold. b. One sale is absolute and the other is pacto de retro transaction where the period to redeem has already expired. c. One sale is simulated and the other is genuine. d. One of the sale is subject to a suspensive condition w/c condition was not complied with and the other is an absolute sale. Answer. B How does the regalian doctrine apply to the Public Land Act in general? A valid option contract is constituted of the following obligations on the part of the offeror: a. personal obligation not to offer to any 3rd party the sale of the object of t he option until such time that the offeree will finally communicate his des ire to purchase the object. b. personal obligation to withdraw the offer or option if a 3rd partys of fer is more desirable c. obligation to hold the subject matter for sale to the offeree in the event th at offeree exercises his option during the option period. Answer. C When are electronic transactions made through networking among banks or linkages with other entities or networks and vice versa consummated? Classification of land is a prerogative of: a. executive b. legislative c. judiciary d. PENRO Answer. A

Which of the following contracts of sale is unenforceable: A sale of a parcel land, deed of sale of such was notarized by a notary public w hose commission had already expired. Oral sale of real property or an interest therein (like usufruct, ___________) i rrespective of the price involved. Oral sale of personal property amounting to 30,000. Future sale of property, whether real or personal not to be executed within one year, amounting to 50,000. When is an instrument considered negotiated? a. If payable to bearer, it is considered by the endorsement of the holder completed by delivery. b. If payable to order, it is negotiated by delivery. c. It is negotiated when it is transferred from one person to another in s uch a manner as to constitute the transferee the holder thereof. d. Both a and b Answer. C When is the right to resell the goods applicable? a. When there is a reservation made for the buyers exercise of the ri ght to resell in case of the sellers default in payment of the price for an unrea sonable length of time. b. When there is no such reservation but the buyer has defaulted in the payment of the price for an unreasonable length of time. c. If the goods are perishable in native. d. Both b and c ANSWER: D X purchased from Y Co., 500 boxes of apples at $8 plus. In turn the latter purch ased from Z co. at $ 7 plus, sufficient fruit to comply w/ its contract w/ X. Ho wever, of the apple consignment from California was lost in transit. So, X recei ved 230 boxes only. Which of the following statement is true? a. X will suffer the lost of 500 boxes of apples and paid the price even for the undelivered of 270 boxes of apples. b. If X has paid for 500 boxes and received 230 boxes only, the pric e of the undelivered 270 boxes must be paid back to him. c. As between Z and Y in as much as the goods has been sold F.O.B Cal ifornia the loss must be borne by Y. d. Both b and c Answer. D Remedies of an Unpaid Seller Possessory lien is lost whenever except; a. Seller delivers the goods to a carrier for the purpose of trans mission to buyer without reserving the ownership in the goods. b. The buyer lawfully obtains possession of the goods. c. By various thereof d. Special right to rescind Answer. D The following are the rights of unpaid seller EXCEPT; a. Possessory lien b. Stoppage in transit c. Special right of resale d. Special right to rescind e. Nullity of contract of sale

Answer: E The following are the requisites in making the presumption of equitable mortgage operate, except: a. b. c. d. Obligee accepts the extension or granting of a new period of redempti on Answer: D