Special Contracts - Sales General Principles Quiz

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What is the essential element for the validity of a contract of sale?

Consent (correct)

Payment of interest

Offer and acceptance

Delivery of the thing sold

Which element is deemed to exist in a contract of sale unless there are contrary stipulations?

Time and place of payment

Payment of interest

Warranty against eviction (correct)

Delivery of the thing sold

In the absence of all essential elements, what is the legal status of the contract of sale?

Unenforceable

Void (correct)

Voidable

Rescindable

What can earnest money not establish in a contract of sale?

Existence of a perfected contract Signup and view all the answers

Which stage of a contract of sale involves the time when the contracting parties show interest in the contract?

Preparation/conception stage Signup and view all the answers

What is an example of an accidental element in a contract of sale?

Warranty against hidden defects Signup and view all the answers

When is a contract of sale considered perfected?

At the moment there is a meeting of minds on the object and price Signup and view all the answers

Under what conditions can a contract of sale be considered valid, according to the text?

If all essential requisites for validity are present Signup and view all the answers

What type of contracts must be in writing to be enforceable under the Statute of Frauds?

Sale of property not to be performed within a year from the date thereof Signup and view all the answers

In what situation does a sale of large cattle require special recording and a certificate of transfer?

When transferring ownership to a third party Signup and view all the answers

What is granted to each contracting party under Art. 1357 of the NCC?

The right to compel the other party to execute a public instrument Signup and view all the answers

What renders a sale of land or interest therein made through an agent void?

The lack of notarization of the agent's authority Signup and view all the answers

Special Contracts - Sales General Principles Quiz

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Questions and Answers

What is the essential element for the validity of a contract of sale?

Which element is deemed to exist in a contract of sale unless there are contrary stipulations?

In the absence of all essential elements, what is the legal status of the contract of sale?

What can earnest money not establish in a contract of sale?

Which stage of a contract of sale involves the time when the contracting parties show interest in the contract?

What is an example of an accidental element in a contract of sale?

When is a contract of sale considered perfected?

Under what conditions can a contract of sale be considered valid, according to the text?

What type of contracts must be in writing to be enforceable under the Statute of Frauds?

In what situation does a sale of large cattle require special recording and a certificate of transfer?

What is granted to each contracting party under Art. 1357 of the NCC?

What renders a sale of land or interest therein made through an agent void?

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