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 (D)</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 (D)</p> Signup and view all the answers

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

<p>'Roman Law' theory (A)</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. (D)</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. (A)</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. (A)</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. (A)</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. (B)</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. (A)</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 (D)</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 (A)</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 (D)</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 (B)</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 (A)</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 (A)</p> Signup and view all the answers

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