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?

  • 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?

    <p>Existence of a perfected contract</p> 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?

    <p>Preparation/conception stage</p> Signup and view all the answers

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

    <p>Warranty against hidden defects</p> Signup and view all the answers

    When is a contract of sale considered perfected?

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

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

    <p>If all essential requisites for validity are present</p> Signup and view all the answers

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

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

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

    <p>When transferring ownership to a third party</p> Signup and view all the answers

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

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

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

    <p>The lack of notarization of the agent's authority</p> Signup and view all the answers

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