Copyright Ownership and Check Issuance Quiz
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Questions and Answers

In the scenario provided, what is the nature of the contract between Gabriel and Andre?

  • Barter
  • Commodatum
  • Partly sale and partly barter (correct)
  • Sale
  • How is the instrument discharged when an endorser pays a promissory note at or after the maturity date?

  • Both statements are correct (correct)
  • 1st statement is correct, 2nd statement is wrong
  • 1st statement is wrong, 2nd statement is correct
  • Both statements are wrong
  • In a sale with the right to repurchase anytime from the date of sale, how long does the buyer have to repurchase the property sold?

  • The buyer has 10 years within which to repurchase the property sold
  • The buyer has 12 years within which to repurchase the property sold (correct)
  • The stipulation is valid
  • The buyer has 4 years within which to repurchase the property sold
  • If Atoy sells a residential lot to Bitoy stating it contains 1,000 square meters but it only has 950 sq. meters, what can Bitoy do?

    <p>Bitoy can ask for proportionate reduction of the price and rescission</p> Signup and view all the answers

    What legal action can be taken if a property owner defaults on a mortgage and there is a deficiency after foreclosure sale?

    <p>Deficiency lawsuit</p> Signup and view all the answers

    In art commission contracts, what type of ownership rights do artists typically retain?

    <p>Absolute ownership rights</p> Signup and view all the answers

    When an endorser pays a promissory note before the maturity date, what happens to the note?

    <p>It is discharged immediately</p> Signup and view all the answers

    Which statement about property redemption rights after foreclosure is correct?

    <p>Redemption rights allow the former owner to repurchase the property after foreclosure by paying off the debt</p> Signup and view all the answers

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