Effect of Total and Partial Loss in Contracts Quiz
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Questions and Answers

Who bears the loss if it occurs before the perfection of the sale and is due to the fault of the vendor?

  • The vendor (correct)
  • The buyer
  • The vendee
  • No one, the contract is inexistent
  • According to Res Perit Creditori view, who bears the loss if there is no fault in the loss?

  • Vendee (correct)
  • Vendor
  • No one
  • Buyer
  • Which theory suggests the vendee bears the loss before delivery of the object of sale?

  • First theory
  • Roman Law theory
  • Second theory (correct)
  • Fiduciary theory
  • What happens to the contract if the object of sale does not exist at the time of perfection?

    <p>No legal effect</p> Signup and view all the answers

    Why is ownership not transferred until after delivery in sales contracts?

    <p>To ensure sellers bear the risk of loss before delivery</p> Signup and view all the answers

    Under which theory are reciprocal obligations considered distinct stipulations in a contract?

    <p>'Roman Law' theory</p> Signup and view all the answers

    What happens if a thing is considered lost before or at the time of perfection in a contract?

    <p>The contract shall have no effect.</p> Signup and view all the answers

    In case of partial loss, what are the alternative remedies available to the vendee?

    <p>Withdrawing from the contract or demanding delivery of the remaining part.</p> Signup and view all the answers

    When does the buyer have the option to consider a sale avoided or cancelled?

    <p>If the object is divisible.</p> Signup and view all the answers

    What happens in case of loss or deterioration of a mass of specific goods?

    <p>The buyer can choose to continue with available goods.</p> Signup and view all the answers

    What is involved in actual delivery of a sold item?

    <p>Placing the object in control and possession of the buyer.</p> Signup and view all the answers

    What happens when an object perishes, goes out of commerce, or disappears in such a way that its existence is unknown?

    <p>It is considered lost.</p> Signup and view all the answers

    Who bears the loss, destruction, or deterioration of a thing in the absence of a perfected contract between parties?

    <p>The owner</p> Signup and view all the answers

    Which type of contract does not require separate consideration: option contract or right of first refusal?

    <p>Right of first refusal</p> Signup and view all the answers

    What is the primary difference between option contract and right of first refusal on the subject matter?

    <p>Offer to sell</p> Signup and view all the answers

    Why is the consideration for an option contract required to be separate?

    <p>To create a contractual opportunity without an obligation to buy</p> Signup and view all the answers

    In which contract is the price considered unimportant: option contract or right of first refusal?

    <p>Right of first refusal</p> Signup and view all the answers

    Which contract involves only an opportunity for the buyer to enter into a contract of sale, with no specific performance required?

    <p>Option contract</p> Signup and view all the answers

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