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Questions and Answers
What should the buyer do if they are in default after a demand for payment?
What should the buyer do if they are in default after a demand for payment?
- They should appear to receive the item only after demand.
- They should tender the price before the delivery period expires. (correct)
- They should make a payment at any time after the default.
- They should take legal action against the seller immediately.
What happens if the vendee does not appear to receive the item by the expiration period?
What happens if the vendee does not appear to receive the item by the expiration period?
- The seller is required to refund the payment made.
- The seller may consider the contract void.
- The vendee forfeits the right to the item. (correct)
- The vendee can claim extra time for delivery.
What condition must be met by the vendee during the appearance for item delivery?
What condition must be met by the vendee during the appearance for item delivery?
- They can delay payment until a later date.
- They must propose an alternative payment method.
- They must provide a written statement of refusal.
- They should be prepared with the payment at that time. (correct)
Under what circumstance can a vendee delay payment during delivery?
Under what circumstance can a vendee delay payment during delivery?
What implication does judicial or extrajudicial demand have for a defaulting buyer?
What implication does judicial or extrajudicial demand have for a defaulting buyer?
A vendee is required to appear and tender the price at the same time unless a shorter period has been stipulated for payment.
A vendee is required to appear and tender the price at the same time unless a shorter period has been stipulated for payment.
If the vendee does not appear to receive the item within the specified expiration period, they are still obligated to pay.
If the vendee does not appear to receive the item within the specified expiration period, they are still obligated to pay.
Judicial demand for payment can only be made after extrajudicial demand has been issued.
Judicial demand for payment can only be made after extrajudicial demand has been issued.
A vendee in default is not affected by the timing of the demand for payment.
A vendee in default is not affected by the timing of the demand for payment.
It is not necessary for the vendee to take any action if they have already tendered the price at delivery.
It is not necessary for the vendee to take any action if they have already tendered the price at delivery.
Study Notes
Delivery and Payment Obligations
- A stipulation may be enforced regarding whether the vendee (buyer) should receive the delivery of a good.
- Judicial or extrajudicial demand initiates the buyer's obligation to pay the agreed price if they are in default.
Conditions for Vendee's Responsibilities
- The vendee must be present to receive the item by the end of the specified delivery period.
- If present, the vendee must also provide payment unless a longer payment period has been specifically agreed upon.
Delivery and Payment Obligations
- A stipulation may be enforced regarding whether the vendee (buyer) should receive the delivery of a good.
- Judicial or extrajudicial demand initiates the buyer's obligation to pay the agreed price if they are in default.
Conditions for Vendee's Responsibilities
- The vendee must be present to receive the item by the end of the specified delivery period.
- If present, the vendee must also provide payment unless a longer payment period has been specifically agreed upon.
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Description
Explore key concepts of contract law with this quiz, focusing on stipulations, buyer obligations, and conditions for payment. Test your understanding of legal principles surrounding contracts and obligations in transactions.
