(CPA REWIEW ScHOL OFT PUILEFPINES REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS COVERAGE: Contractot Sales Direction: Read and select the best answer forthe fllowing questions. 1 scoop saci owe eee og na ete terspeianeaee nema treats trl ewe ree himself to pay therefore a price certain in money oF ts oquivalent, maga bee : ie, : ans 2 The following are the essential elements orth equstes ofthe convact cf tale, xcept ‘& Consent ofthe contacting partes asc determinate hing and price certain i mewey ors equivalent ‘Subject multe which should hea determine thing Price certain in money er its equivalent Deliver ofthe subject rater 3. The following are the nature cements ofthe contrac of sale, except 1 Warranty aguina evitin bh Weranty agaeat hidden defocte = Waranry against nen-apparent end unegitered serve or encumbrance 4 Werangy for meschartiity Warranty pune sale's a ‘The following ate oly considered acidenal elements in the contrast of le, exept ‘2 Poe of delivery and payment 1B. Time of delivery and pase €& Termtor conditions of payment 4. Price centaln in money or er equlveat $, Which ofthe following is uecessry forthe perfection and veldity of contest of sale? ‘a. Essential elemsants b, Natural elements Accidertal elements 4. Allofthe above (6. The folowing are the chareterises of «contract of ste except ‘a ricipal It can exit by isl wahout being dependent ypor another contract. ', Bilateral — Bosh the conteing pares hve obigntous te perform, 1. Resirocil ~The cause ofthe odes pay isthe object af the oes party and vice vers 4. Onerous~ Vale considerations ae given by bth parties to aon rights. ‘Commutative The pare exchange almost equivalent values. Nominate —It has special name given toy ew, '& Rea Its pried by delivery of re subject rater. 1. The following ere distinctions between sale and dacom en pao, except Taal, ches no pre-existing crc, while i dacion ea ago, theres pre-existing creat, 1, Asie reas obligations whe cacion en pago extinguishes cbligiticas In il, there greater feedor a Tsing he pic, whe in dacionen pogo, thre is es freedom in fing the price bocnse ofthe amount ef he pre-existing eit wich te putes sek to extinguish 4. In aa, the cate of consiteration i Ue price fom the seller's point of view, andthe delivery of the objee fom: the beyee's view poi, fs dation en pago the ease of cersideraton is he extinguishment of ‘he ebligaton, fom the debtor's point of view andthe detivcy ofthe object given in place ofthe ced, from he credicr's palo view. ‘eA contact of tle an enerousransfor whit dation en pago is cousdered a gramtous wanser. 8, What isthe srt berveen contrast of ste and dacion en pago? ‘2 Thelaw thet governs them B, Thecause of cbigation @, The objet of eb gion 4 Allofthe above. ed GEAR. Hagley Frowok for Ours actors RFT 6604 Page 108329. Tee following are the distinctions between sl and payment by oesion, except ‘Instle, there sno pe-nising credit while a payment by cession, there are pe-isting credits ‘Asal creates obligations while payment by ctsin exingusescligations 6 Insle the cause o consider is the pice from the tellers pot of view, andthe delivery ofthe ject fom the buyer's pint of view wie in payment by cesin, the case or consideration is he extinguishment ofthe obligation fom the debuor’s pont of view and te assignment ofthe things tb fold rom he reitor's posto view. 4. Insal,there i rater freedom i fixing the price while in peyment by cesion thee i less eed fa fixing the price because of th fixed erun of the preexisting credis which the partis sek 10 extinguish «Insti the bye Beeames the owner ofthe property sl otha whl a payment by cession, he crettrs not become the cers othe propery aid to them but are merely given the ight o sll Such propery and apply the poseds othe cis. {Conus sl governed by FRIA of 19 while cesion i governed by Law on Sales 10, What is te name of the contract if tis forthe delivery at a certain price of an article which the wendor in the ordinary course of business, manufactures or procure forthe general market, whether the same is o hand cr 04? ‘a. Contac for a piece of work ', Contact of pledge Contact of sale Contract of deposit 11, What is the name of the contact fhe goods ae to be manufactured especially forthe customer upon bis special ‘order and wo for the general market? ‘8 Contras fora peve of work 1b. Contact of pledge © Conmtof sale 4 Cone of deposit 12, LA Lakers entered iato a contrac with Nike In 0 provide two pairs of basketball shoes for Kobe Bryaat and ‘Andrew Byer. No pair was, however, available atthe time of perfection of the contacts. Kobe wears 10" basketball shoes which Nike normally manufac forthe general market while Andrew wears 20” basketball shows which wil be manufactured specially for Andrew. What contracts are entered into by te paris? ‘Both contacts of sale 1 Bot contacts for apiece of work {© Contact of sale for Kobe's shoes and contac for piece of work fr Andrew's shoes 4. Contract of sle for Andrew's shoes ad contract fr apiece of work for Kate's shoes 13, In ste, the cause or consideration is in money while in barter, the cause oF consdemtio is another thing, However, whete the consideration is partyin mooey aod partly in another thing, the following ar he rues to be observed, except 1 The contact shall be one of sale or barter depending upon the manifest intention ofthe pate. Ifthe ictaton of the parties doesnot clesly appea,the contract is one of barter ifthe value ofthe other thing given as part of the consideration exceed the monetary consideration. Ifthe intention of the partis does not clearly appear, the contact is one of sale ifthe monetary consideration is more than the vabie of the oer ting given as par ofthe consideration. 4. If the intention of the pais does not clearly appear, the contact is one of barter if the monetary consideration is equal tothe value ofthe oter thing given as part ofthe consideration. 14, A.and B entered into a contract whershy A will deliver his laptop to B while he later wil deliver PL0,000 and a cellpbore witha valu of P10,000 to A. What iste name of the contac ifthe intaton of the parties doesnot leary appear? ‘Contact of Barter . Contact of Ageny © Contact of Sle 4. Contact of Pledge 15, The following are the distinctions between contract of sale and contract o sll, except ‘In contrac of sale, ownership pases tothe buyer upon delivery wil in contract to sll, the title to the s0ods does nt pass othe buyer until some fur time and ofteatimes upon peyment of the price. 1. Incontactof sale, the risk of loss or damage to the goods upon delivery ison te buyer, under the rule “res pert domino, ofthe thing perished withthe owner; wile in contact to sell, the risk is borne by the seller based onthe sme priaipe that the thing perishes with the over. In contact of sie, the non-payment of the price is resolutory condition while in contact to sll, the payment in fil of the price isa suspensive condition 4. Therulecn double sale applies to contacto sell while contacts of sle ae not covered by rule on double sale, ——— oe GEAR Regulater Froncwor for Busnes Tasacons RFBT 8604 Page 2 of 216, The fllowing are the distinctions between contrac of sale and agecy to sll, except 1 Insale, ownership passes othe buyer, while in agency to sll, ownership is retained bythe principal. » tm yet ath slr, ile any ol te pera he agent nd hae ua 78 money to he principal. ‘In sil, the goods ae delivered ty the seller to the buyer while in agency to sll itis the agent who elivers the goods othe final consumer, = = = “Canta sal is never covered by sate of aud while ageaey oll is bays covered by sae of 17, The following ae the reuisites ofthe objet ofa contract of sale except ‘&_Itmust be within the commerce of mer, '.: Itmust be not contary to law, moral, good customs, public order or public pliy. S.Itmust be determinate, 44 Trust be owned by the vendor a the ine of pertetion of contract of sale 18 The object ofa contract of sale must be detenninate or specific otherwise thee i no sal. When isthe thing considered deterninae? ‘& When itis patcuarty designated or physicy segregated from all cers ofthe same class a the time the contact is entered ito without the necessity ef anew or further agreement between the parts. When itis particularly designated or physically segregated from all thes of the same clas atthe time the contacts entered into with the necessity of anew or further agreement between the partes. © When itis particularly designated or physically segregated from all oders ofthe same clas athe time ‘the goods are to be delivered into without the neces ofa new oFurher agreement between the patie. 4. When iis penicularly desigated or physically segregated fom all ober of te same clas a the tme ‘he contract is entered into withthe necessity of anew or further agreement beeen the paris. 19. On Jesuary 1.2012, S sold to B s specific car owned by X for P50,000. § promised to deliver the car to Bon Jesutey 112012, $ bought the car fom X on Jenunry 10.2012 and delivered it to B on January 112012. Is the ‘contac of le beseoen 8 and B valid? 4 No becuse there i 0 delivery of th cao Santry 12012 which san esti reulte of« contrct cofsale. ', No because the seller or vendor shall be the owner ofthe thing sold atthe time of perfection of contact © Yes even ifX isnot the owner ofthe thing sold on January 11,2012 because furure ching can be the object of a contact of sale, 4. Yes because the vendor need not possess the tte to the thing sold atthe perfection ofthe cbtract but be ‘st hae the right to transfer the owneip of the thing athe ine thatthe thing io be dered. 20. On Jannory 1.2012, D borrowed frm C 100,000 and asa security D mortgaged his land to On January 2.2012, sold the same land to X for PS0,000 to be delivered on January 52012. D fled to pay the loan Is the contract of sale baten D and X valid? ‘No because D iso longer the owner ofthe land on January 2.2012. '. No because D is no longer the over ofthe land on January 5.2012, Yes because D i sil the owner ofthe land although it wus mortgage toC. 4. Yes provided D will pry te amount dus to C 21. Future things or things having a potential existence may be the objet of contract of sae, Howeper, the thing rust come into existence; otherwise, te sal will not be effective for not having a subject mater. The following fimure things can be the object ofa contract of ale, except | 4 Wine that a deterinate vineyard is expeced to produce ', Milk that a specifi female cow may yield during the coming year Next catch ofa specific sherman’ et | 4. Future inberitance of an heir 22, The fllowing are the distinctions between emptio rel sprstae and empti spel except H ‘a Empiioreisperateis a sale of hope or expectancy while empio sei ithe sale of fue th ‘In emptio rei speraa the thing expected wil deiniely come into existece, but its quali or quantity ‘unkown; while in emptio spelt isnot cera hat the thing wil exist uh les its quasi br quality, ‘© Empto re sperstae is subject tothe condition that te thing should exis, so that if it oes, thee wil be no contract of saleby reason ofthe absence ofan essential element ~ subject mater wil in emptio pei produces effects even though the thing doe nt come into existence because the subject mate isthe hope isl, : 4. Sale of ture harvests emptor speatae while sale of etry ticket No. 113i empto pe (CPAa— Regulatory Promevor for Bernas Tsacions RET 660428. nce of out whee te conte ofl coef eng perio on feng spi how stl he ‘contract be generally interpreted to? eno ae Epc eispene & Emptiospe © Boma seo Neher A or 24, emptor spertae or sale of fture things or tings having potential existence, what isthe effect tothe contract ‘ofsale ifthe sad subject mater doesnot come ints Prsence? ‘The contact becomes ineffective or void for want of subject mater. 1b. The sller will never be Liable for damages, ‘© The coatract becomes unenforceable 4. The contact remains to be perfectly valid, 25, S sold a lotery ticket No. 143 to B on January 22012. The draw was already msde on January 1,2012 and ticket ‘No. 143 did not wi, I the contac of sale between S and B valid? 1 Yes because it involves erptio spel or sale of mere hope. No because the sale of vin hope or expectncy is voi, Noeven if th ticket is considered collector's item. Yes because the essential elements of contract of sale are present. 26 The following goods may become the subject ofa contmct of sale, except ‘4 Existing goods owned or possessed bythe seller. ', Goods to be manufactured, raised or aquired by the seer after the perfection of the contrct of sale or “fare goods” Goods whose tcqustion by the seller depends upon the contingency which may or may not happen. Vain hope expectancy or future inbertance, ‘Things subject to resolutry condition or resolutory period. 21, Sis the sole owner of a condominium unit § sels undivided interest therein toB. I the contract of sle valid? 1 Nobecause the object ofa contract of sale must be determinate. '. Nobecause the object ofa contract of sale must be whole neest. ‘e. Yesthe sole owner of thing may sell an undivided interest herein and such sale shall produce the effct ‘of making the seller and the buyer co-owners ofthe thing sold. 4. Yes provided thatthe condominium unt shall be physically divided. 28, There may be a sale ofan undivided share of «specific mass of fangible goods though the seller purports to sll ‘and the buyer purports to buy «definite number, weight or measure of te goods inthe mass, and though the ‘umber, weight or measure ofthe goods inthe mas is undetermined. Which ofthe following rules is correct? 1 Ifthe quanity, number, weight or measure, of the mass is more than the quantity sol, the partes sball become co-owners ofthe mas. 1 if the quantity ofthe mass is less than the quantity sol, he buyer becomes the owner of the whole mass, with ‘the seller being bound to make good the deficiency from goods ofthe same kind and quality, unless a contrary intent appeas. a Loaly & Mealy ©. Neither nor lt 4 Bothiandi 29, $ sells to B 200 sacks of rice fom « mass stored in the warehouse ofS, The mas, however, actully consist of 300 sacks of rice. Which ofthe following statements i errect? The sale inl nd void because the object isnot determinate, 'b. The sles valid provided B will pay forthe excess 100 sacks f corn. ©. The sale is vl, ths, § and B will beome co-owners ofthe whole mass tothe extent of 23 for B and V3 fr. 4. The seis ull and void because there so consent. pap 30, $ sells to B 300 sacks of yellow com fom a mass stored inthe warehouse of S. The mass, however, actully ‘consists of 280 sacks of yellow com. Which of the fllowing statements i correct? ‘The sales aul and void because there is wo consent The sales null and void because there iso determinate object. Becomes the owner of al the 280 sacks and Sis hound to deliver additonal 2 sacks. 4. B becomes the ovine ofall the 280 sacks dnd $ is mot bound to deliver the additonal 20 sacks, (CAR ygulatory ramewor for Busnes Transitions 'RFBT 8604 Page 4 of 3231. It isthe sum stipulate asthe equivalent ofthe thing sold, and also every incident aken into consideration forthe fxs of te same, put tothe debi of he vende, and agred to by him. isthe cause of conta fs on te par ofthe sel la. Loan b. Price le Debt | \é. Money | 32, The following are the requisites of the price ina contrast of sale, except la. It must be certain, Itmust be real must have possible equivalent in money. Hast be fictitious | 33, The price ofthe thing sold must be certain, otherwise, the sale is vid by reason of the absence of meeting of ris between the parties. The following are the instances when the price is certain, except ‘Ifthe parties have ageed upoa a defite amount for the sale 1. Ifitbe certain with reference to another thing certain, Hf te determination ofthe price is left the judgment of specified person or persons. If the price is fixed by the court. If the price fixed is that which the thing old would have on a definite day, or in particular exchange or ‘market, or when an amount is fixed above or below the price on such day, or in such exchange or market, provided said amount is eatin {+ Ifthe prise is fixed by one ofthe contacting parties and not accepted by the other, 134. The following contracts of sale have prices which are cen and therefore valid, except ‘4 $sold to B a specific watch for ¥2,500 which bb partes agreed upon. 1S sold to B a certain ring of which the price is tho salary of the faculty member of LaSalle Schoo, € Ssoldto B a specifi cr the price of which i subject to determination of X, this person . 5 sold t B 500 shares of ordinary stocks of BPI atthe price equivlent to the closing price ofthe ALI'S ‘ordinary shares on April 30,2020 a the Philipige Stock Exchange 235, When may the cour fix the pic of the contrast of leit the determination ofthe price i Tf to the judement of third person? 2 Ifthe third person is unable o unwilling to fx he price '. Ifthe third person acted in bad faith or by mistake. If the third person or persons are prevented from fixing the price or terms bythe seller. 136. What isthe efoto the contac of sle if the determination ofthe price i eft to the judgment ‘and such perscn is unable or unwilling to fix the price? ‘The contract of sale is voidable. '. The contract of sale is valid and binding ‘ The contrac of sale is ineficacious unless the pris subsoquenty agree upon the price The contrac of sae is rescissble, 37, What isthe effec othe contrat of sale ifthe determination ofthe price is lft othe judgment ‘where such third person or persons are prevented for fixing the price or terms by faut of the seller or the Buyer? ‘2 The contrat is voidable 1b The contac is unenforceable. ‘e. The pany not io fuult may have such remedies against the pasty in fault es areal buyer, a tho case may be suchas filing an action for damages 4 The contact is rescssble. 34.8 sold B specifi and. The re of th gpd tat bo dete spproprated by B. What isthe obligation - ‘a. B has no obligation because the contract of sale is null and void having no price. 1b. Bhs no obligetion because the contact of sae is ineffcacious because the price of tht good cannot be determined ‘& Bhasthe obligation to rescind the contract. 44. Bhs the obligation to pay a reasonable price which depends onthe cieumstances of (CAR Regulatory Framework for Business Tensacions REBT 8604 ge 5 of 3239, What is the effect of gross inadequacy of price in a contract of sale? 1 tenders the contact of sale nul and void '. Inrenders the contact of sale unenforceable © It doesnot affect a contract ofsle, excep as it may indicate w defect inthe consent which makes the contact voiableor except as itmaay indicate that the intention ofthe parte is another contract. 46 Tedoes not affect a contact of sale even ifthe partes really intended a donation or some other act or contact 40, What isthe effect of simulated price in a contrat of sle? fItrendes the contact of sale ull a void, i. erenders th conract of slevoidable. ¢.Irenders the contrat of sale cescissible. 4. renders the contract of sale unenforceable . © I renders the contract of sale as a valid donation even if the requirements of donations or other sgzeement are rot complied with, 41. When isa contac of sale perfected?” ‘Upon delivery ofthe object of a contact of ale. i i '. Atte moment there isa meeting of minds upon the determinate thing Which isthe object ofthe contact ‘and upon the price certain money or its equivalent Upon payment of the purchase pice, 4. Upon the transfer of ownership ore. 42, XandY are good fiends. X sol and delivered hs cat Y. Kt was aoe and understood tht on eat Sunday X ‘will mune and fx the price of the car Sunday came, X called Y by telephone and statad and fixed the price at 50,0001 the Gone of sale perfected? ‘No beeuse the purchase pie isnot yo pai b. Noecaus thei snot registered to he buyer. «. Yesbecause the car has already bren delivered 0 Y. ‘i 44 No because the prise ofthe sle was left to de discretion of one ofthe parties, that is, the seller, and it ‘was no consenied hy the buyer 48, Which ofthe following contracts of sal is mill and void? '. Exccutory oral stl of rel propery of amy interes therein regardless ofthe prive. Executor oral ale of gods. chattels or things in ation the prise of which i PSOD or more. 12, Sie of pve of lan bs the agent inthe name of principal wherein his authority i notin writing Sale pve of land bya thre person in the name of owner but who has no ben piven any authority 46, When ea contrat of se by actin perected? ‘When te bighes: bidder ges mis bid When te auotioa things hes been deleord othe buyer. ‘& When th aictioneer announces its perfection by the fl ofthe hammer or in any other manner. 4. When the bid price hasbeen paid “45, The following ae the rights ofthe partes in an auction sal, except ‘Before perfection, aay bidet may react hs bi. 1b. Before perfection, the aunoneer may generally withdraw the goods from the sale unless the auction has boon announced without recervation by auctor. «After perfection, the wining bidder can erat his bid 44. Afler perfection, the auctioneer eat withdraw the goods 46. The seller may bid atthe auction provided the following requisites are presen, except a. The right to bid must have been reserved exprestly by oc oo behalf of the seller. b. The right to bid must not be prohibited by aw or spultion. ©. Notice mist be given that he sale is subject toa right to bid by or on behalf ofthe seer. 4d. Thedid ofthe seer must be te lowes. 41. By bidders ce puters refer to persons employed by de seller to bid in his bebalf, the purpose of which isto raise the price, ba he sd person ate not in thersalves hound by their bids What i he effect of employment bythe seller of by-biddersor pur without notio so the other bidders ina perfected contact of sae by auction? ‘8 The se may be considered voidable 1. The sale is considered all and void, ©. The sale is unenforceable 4. The sale isescissble, eee (CRAR Regulatory Pramcwork for Basics: Hantactans ~ RFBT 6604 Page 6 of 3248. Which ofthe folowing stements concerig bilateral and unilateral promise o buy and/or sell is incorrect? ‘& Bilateral promise takes place when one party promises to buy and the otber party promises to sell « B. Atty payment of tal inliovans arountng Yo 5,000,060, Bdefated on the ret installment. Aer fotlowing the ooressan prooodues required by lw roptraet of sale is canccied, How much cash surender ‘lu is B ented om A? = P2,s00,c00 B. 2,700,000 ©. P28:0,000 4. 2,309,000 82, PD 957 also known es Subdivsioa and Cendominium bayers Proteative Decree provides forthe following protection ofthe besers except 2 Nowwnsr or developer shai levy pon aay finance carvices for common comfort, seri: and organized liwoweers ascciation a2 caly seat resig ia the cub@esion oe condor cin pais 1b. The cimer or developer canned ivy &°y) parson feo access wo any goverzment office or public ‘establishmen: focsted within che subdivision cr which may be rescbed only by passing through the sabsiisen ‘& The onnsr or developer of seh! on witheutnacess to any’exiing pubic road or street must secure & right of way toa publi ad or tee and scl righ of wy must be develcped and maintained according to the equenert ofthe gverament and auhorte cavcaned 4. The owner or developer ota subdivision project ce corSomisiurs project sal initiate the organization of a homcevraer asssaaticn amg the buses aid residents ofthe projects for Une purpose of promoting and protecting ther mat eres and asin their community developmen fe. The owner or developer Has the 2blgetion f> pay the real property taxes on the subdivision and condominium sid even acer te Ganser of ownership f the buyers. see Cac an alleged community benefit. Fees to ton sry be colleted only by 8 properly ‘jority of the lot or unit buyers 15. Under PD 957, which of te following staterents i correct when the buyer, afer due notice to the owner or developer, desist fom further pe sent due tthe failure af the owne: or develeer ‘0 develop the subivision oF ‘nndominium projet eccerding 2 the eppreved plans and within the time fmt for complying with the same? ‘2 The intallineasalceady paid byte byt shall be frfeied in favor of he owns or developer. bb. The buyer may ask for Ge reuburerant of te total amount pad feludiag amortization interests but cescluding delinquzacy inert, wit interest Giereon a he legal rte, «The buyer hs wo ight to ash for the veirtnarvent already paid, 4. Thesallercan automatically cancel the cont of sale Bevaise ofthe non-payment {84, Under PD 97, the ownar or developer shall deliver te ttle of te Hor or nit w the buyer upon fll payment of the lot or unit. Wha: fs canbe collected by te ovmerdevelop from the buyer? Only those expenses required fr dhe registration oft deed of suc inte Regsty of Deeds. 1B. Allexpesses of Wo convact of sla. Expenses fhe corcact of sic au eal proprty taxes uring th peadency of payment. i CAR Regulatory Framework for Business Tarsactons REBT 8604 Page 11 of 32i '85. Under PD 957 also known as Subdivision and Condeminiam buyer's Protective Decree, who shall pay the Real ‘estate tax and assessment on & Jt or unit being developed before the passage of tle to buyer? ‘Developer or owner ofthe project subject to reimbursement by the buyer. b. Owner or developer without recourse to the buyer. & Buyer of the unit 44. Developer and buyer equally {86 Asa general rue all those who may oblige themselves may enter into a contract of sale. What isthe status of a ‘contract of sale entered into by persons having absolute incapacity such as minors, insane or demented persons tnd deaf mutes who donot know how to write wit acapactated person? a Voidable b. Resvssible &. Unenforceable 46. Nall and void 157, What isthe status ofa contact of sale entered into by perons having absolute incapacity such as minors, insane ‘or demented persons and deaf mutes who do not knowhow to write with another incapacitated person? ‘a Voidable 1b Rescisible ‘© Unenforeable 4. Nolland void 88. S,« cepaciated person, sold to B, a minor, a chicken joy. May $ demand from B the payment of the purchase price? ‘a. No because the contract of sale is voidable since B is an incapacitated person. '. Yes because even th conract of sles oidable ideally, the subject matter, food isa necessary ©. Yes even the price is unressonable. No because the contract of sales voi. 89, Asa general rule, what isthe status ofthe contract of sale between a husband and wife? 1 Voidable because they ae suffering from absolute incapacity. Nall and void because they are suffering from relative incapacity. 6 Reseisible if there is lesion, 4. Uneaforceableif tis not a wring. 90, Asan exception tothe general rule, when may the husband and wife validly sll property to each ‘When an absolute separation of property was agreed upon inthe mariage setlements When tere hasbeen a judicial separation of property under the Family Code ©. Either A or. Neither A noe B. 91, Without the consent ofthe husband, the wife eld their car, conjuga/eommunty property What sth status ofthe contract of sle? ‘2 Itis unenforceable sbjest ratification tis voidable because of vitiaton of consent. Itisrescisible because of lesion tothe husband. 4. Iris ll and void because of lek of consent of husband but the contract consis a the husband. 92. A and B are legally martied and governsd by property regime of absolute seperation. A ‘specific carat price of P10,000 to B after the Inter pointed« gun to A. What isthe status of ‘a. Voitable B. Void © Unenforceable 4 Rescisible 53, The following persons are proibite from aqurng by purchase even at public or ji ution sales in gat redemption, compromises er enunciatic, except ‘The guardian, te propery ofthe person or pesoas under bs guardianship. 1. Ages, the propery whose admission osle may have been entrusted to them, ules the consent of the principal hasbeen given. 6, (Exscutrs and administrators the property of ths estate under ther administration, 4. Public officers and employees, the propery af the State of GOCC under thee ion, ©, Justices, judges, prosecuting ctorneys, leks of court and other officers and e connected with the admiaistraton of justice, the property and rights in itgntion, £ Wife, the excusive or capital property of is husband if ther is judicial separation of property. (CBAR— Regulatory Fremewor for Business Transactions RFBT 8604 ‘Page 12 of 8254, The following ae the obligations ofthe vendor ina contact of sale, except ‘© To deliver the determinate thing sold including the accessions and socesseries in the conten ia which they were upon the perfection of the contract. ‘To warrant te thing sold aginst eviction and hidden defects and unregistered encumbrances. ‘To take care ofthe thing sold before delivery to the buyer withthe diligence of a good father of faily oF erdnary diligence unless the law or the stipulation ofthe parties requires anther standard of cre. 44. Totranste the ownership ofthe thing sol tthe time ofthe perfection ofthe contract of ele. 9. When is the ownership or tte of the ting sol transferred fom the eller othe buyer? Upon the perfection of contract of tle . Upon payment ofthe purchase price. ©. Upon actual or constructive delivery ofthe thing sold. 4. Upon execution of private instrument or private deed of sale 96. May the parties agre that fill payment ofthe price wil be the act that transfers ownership in a contract of sale? 8. "No because it is contrary to Law on Sales, . Yes by reason of liberality of contract, &Nobecause i will be unfair to the buyer 44. Yes bu only if there is approval bythe cour. 97. Tt is amode of sequiring ownership whereby the objec of the contact is placed in the contol and possession of the vendee, either actually or constructively, It isthe operative act that transfers ownership ofthe determinate ‘hing from the buyer othe seller in a contac of le. ‘Delivery either actul or constructive '. Payment of purchase price © Perfection of contract Execution of document 98. The following are the examples of constructive deliveries in a contract of sal, except 4 Tradito by logal formalities ~ When the same i made through a public document, the exeution thereof shall be equivalent to the delivery ofthe thing sol, It applie 1o both movable and immovable property. b. Symbolic delivery (Traditio simbolica or Traditio clavium) — This is delivery that takes place by te land fom Carmelo bscause forged documeat or deed of sale, in case of registered or, canbe arcot ofa valid tide the tei abeady inthe hand of a purchaser for value and in od faith, 116, Manny «Filipino sol his privat fan wo fppo, Japanese caioul. The contract of sl has already been ‘executed, Which ofthe flowing statements is conve? ‘2 The conzact of sale i void bocaue it vnative of Consttaticnal provision against ownership of private land by foreigners. Therefore, Mary cennot ask fr declaration of nullity because of principle of pari ele, b. The contact of sale i .nenfrceable besnse itis violative of Constitutional provision against ership cof private land by foreigners ‘Ownership of he land wil transfer to Ippen snd the coutracs can ao longer be avoided since the contract ‘is already execved 4 Many can il rcover tne land by iting 2n tion for coclrti of ellity because the principle of pari