30.

As a rule, when creditor assigns credit in good faith:

I. He warrants the existent
II. He warrants the legality
III. He warrants the solvency

Only I and II

29. The ff sale/transfer in bulk is not covered by the bulk sales law except

If made by a vendor who executes and delivers a written waiver

28. A person who either has ceased to pay his debts in the ordinary course of
business or cannot pay his debts as they become due

Insolvent

27. It means goods identified upon at the time

Specific goods

26. Statement I in a contracts of barter, one of the parties bind

Statement II the contract of barter is perfected

Only statement I

25. Statement I a sale in violation of the bulk sale law is valid only

Statement II a purchaser in good faith in violation of the bulk sale

Both true

24. When goods are in such a state that the buyer would be bound

Deliverable state
 23. Statement I an assignment of credit, right of action produce no effect

Statement II the debtor who before having knowledge

Both are true

22. In case assignor in good faith voluntarily assumes the responsibility fot the
solvency except

In case there is a period agreed upon by the parties

21. The ff is not a sale/transfer in bulk

Sale of all or substantially all the properties of the vendor which are exempt from
attachment

20. In case one party loses by eviction

I. Recover the property
II. Demand indemnity
III. Rescission of the contract

Only I and II

19. It includes all chattels personal

Goods

18. D owes b and c the amount of P50k. D defaulted in his payment

Which of the ff is correct?

D cannot redeem the credit

17. An assignor in good faith who violates his warranties shall be liable except

Damages incurred by the assignee

 16. S1 The assignment of credit includes all the accessory
S2 one who sells an inheritance without enumerating the things

Both are true

15. An agricultural land is owned by X and Y proindiviso. Y sold his ½ part to z.

which is not correct

The sale to z is valid and as land owner, he is the one entitled to redeem

14. A b and c are co owners of an undivided parcel of land. A sold his 1/3 interest.
Who can exercise the right of redemption?

B and C

13. A b and c are co owners. A sold to b his 1/3 interest to b. which is correct?

C cannot exercise his right of redemption because the sale was made to a co
owner

12. A contract of sale whereby the seller acquires the right to redeem or repurchase

Pacto de retro

11. S1 Co owners have no right of legal redemption

S2 Adjoining owners of rural lands who have the right of legal redemption

Only 1

10. S1 The vendor who covers the thing sold shall receive it free from all charge
S2 The right of redemption is a real right

Only II
 9. A own a piece of land and sells it to B. can b sell the land he purchased from a
to c, a third party?

Yes, but A can still redeem the land from C

8. A owns a parcel of land which he sold to B within 3 year redemption. Which of

the ff is not correct?

As A can repurchase the whole land, so anyone of his heirs CDE

7. A contract which although it lacks the proper formalities of a mortgage

Equitable mortgage

6. A B C are co owners in equal shares of one hectare rural land, the adjoining
owners to which. Who shall have the right to redeem?

None of them has the right to redeem because the land alienated was not by
onerous title.

5. A B C are co owners of an undivided parcel of land. A sold his 1/3 share to B.

Which is correct?

C cannot execise the right of redemption since the sale was made to a co owner

4. A and b are co owners of a ¾ of a hectare rural land. A sold his ½ share to y.

which of the ff is correct?

B can redeem what A sold to Y if Y is already owns a rural land

3. The contract shall presumed an equitable mortgage except

When the price of the sale is usually inadequate

 2. S1 the creditors of the vendor cannot make use of the right of redemption
against the vendee
S2 the vendor may bring his action again every possessor whose right is

Both true

1. The mode of extinguishing a contract by which a person is subrogated

Legal redemption