Warranty Provisions in Civil Code and Consumer Protection Act
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Questions and Answers

What remedy may the vendor exercise if the vendee fails to pay any installment in a contract of sale of personal property?

  • Exact fulfillment of the obligation (correct)
  • Seek punitive damages
  • Extend the payment deadline
  • Foreclose the chattel mortgage

When can the vendor cancel the sale in a contract where the price is payable in installments?

  • After consulting a lawyer
  • After three missed installments
  • After two or more missed installments (correct)
  • After one missed installment

According to Article 1484, are the remedies for vendor's non-payment cumulative or alternative?

  • Alternative (correct)
  • Cumulative
  • Both cumulative and alternative
  • Sequential

Under the Maceda Law, how many years of default in payment must be reached for the law to apply?

<p>2 years (C)</p> Signup and view all the answers

How often can a buyer exercise the one-month grace period under the Maceda Law?

<p>Once every 5 years (A)</p> Signup and view all the answers

What happens to the unpaid balance of the price if the vendor forecloses the chattel mortgage due to non-payment of multiple installments?

<p>The vendor cannot recover any unpaid balance of the price (B)</p> Signup and view all the answers

What is the implied warranty on the part of the seller according to Article 1547 of the Civil Code?

<p>Warranty of quiet possession (A)</p> Signup and view all the answers

Which situation does not render a person liable under the implied warranties outlined in Article 1547 of the Civil Code?

<p>Auctioneer selling without full knowledge (D)</p> Signup and view all the answers

Under what circumstances does an affirmation or promise by the seller become an express warranty according to Article 1546?

<p>If it influences the buyer's decision to purchase (B)</p> Signup and view all the answers

What does Article 1546 consider as an express warranty in a contract of sale?

<p>Affirmation influencing buyer's decision (C)</p> Signup and view all the answers

Which warranty ensures that the seller has the right to sell and assures peaceful possession upon transfer of ownership?

<p>Implied warranty on quiet possession (C)</p> Signup and view all the answers

Who is not held liable under the implied warranties described in Article 1547 of the Civil Code?

<p>Auctioneer selling goods without complete knowledge (C)</p> Signup and view all the answers

In a contract of sale, when does title pass to the buyer?

<p>Upon delivery of the thing sold (B)</p> Signup and view all the answers

What distinguishes a contract of sale from a contract to sell?

<p>In a contract to sell, title passes upon full payment (C)</p> Signup and view all the answers

What is the purpose of earnest money in a sale transaction?

<p>To serve as full payment for the purchase (B)</p> Signup and view all the answers

What is the key difference between earnest money and option money?

<p>Option money is given as an option contract consideration (A)</p> Signup and view all the answers

When does a contract of sale become demandable?

<p>Upon delivery of the thing sold (B)</p> Signup and view all the answers

In a contract of sale, when does the seller's obligation arise?

<p>Upon perfection of the contract (B)</p> Signup and view all the answers

When can an affirmation of the value of the thing be construed as a warranty?

<p>When it is made by an expert seller and relied upon by the buyer (A)</p> Signup and view all the answers

What is required for an express warranty to be valid according to the text?

<p>Identification of the party to whom the warranty is extended (A)</p> Signup and view all the answers

In the context of warranties, what should a consumer do to avail of their rights according to the text?

<p>Follow procedures stipulated in the warranty terms (D)</p> Signup and view all the answers

When do written warranties issued by manufacturers become operative based on the text?

<p>At the moment of sale (A)</p> Signup and view all the answers

What should a seller do to give a valid express warranty as per the text?

<p>Clearly identify themselves as the warrantor (A)</p> Signup and view all the answers

Under what conditions shall an affirmation of value be construed as a warranty according to the text?

<p>When made by an expert seller and relied upon by the buyer (B)</p> Signup and view all the answers

When can actual cancellation take place according to the text?

<p>After 30 days from receipt of the notice of cancellation (B)</p> Signup and view all the answers

How much refund is the seller obligated to provide to the buyer after 5 years of installments?

<p>50% of total payments made (D)</p> Signup and view all the answers

What can the buyer do in order to reinstate the contract before actual cancellation according to the text?

<p>Buyer can update the account during the grace period (C)</p> Signup and view all the answers

What are included in the computation of the total number of installment payments made as per Section 3?

<p>Down payments, deposits, or options on the contract (D)</p> Signup and view all the answers

What right does the buyer have regarding full payment of the purchase price, as stated in Section 6?

<p>To pay in advance without interest and have it annotated in the title (C)</p> Signup and view all the answers

How long is the grace period given for payments before actual cancellation for less than 2 years of installments?

<p>60 days (B)</p> Signup and view all the answers

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