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WorksheetsQuiz - Extinguishment of Sale
Total questions: 42
Worksheet time: 32mins
It is a cause of extinguishment of sale wherein it means the extinguishment of all other contracts.
(a)
It is a cause of extinguishment of sale wherein it is recognized by the law of sales
(a)
It is a cause of extinguishment of sale wherein it is given special discussion by the Civil Code
(a)
It is the right which the vendor reserves to reacquire the property sold provided the vendor reimburses the vendee of the price, the expenses of the contract, any other legitimate payments made therefor and the necessary and useful expenses made on the thing sold and fulfills other stipulations which may have been agreed upon.
(a)
It shows the intention of the parties to make the property subject of the contract as a security for the fulfillment of an obligation
(a)
The contract shall be presumed to be an equitable mortgage, in any of the following cases: (Choose the incorrect statement)
when the price of a sale with right to repurchase is unusually inadequate
when the vendor remains in possession as lessee or otherwise
when upon or after the expiration of the right to repurchase another instrument extending the period of redemption or granting a new period is executed
when the purchaser does not retain a part of the purchase price
The contract shall be presumed to be an equitable mortgage, in any of the following cases: (Choose the incorrect statement)
when the purchaser retains a part for himself of the purchase price
when the vendor binds himself to pay the taxes on the thing sold
the real intention of the parties is that the transaction shall secure payment of a debt or the performance of any other obligation
when the vendee binds himself to pay the taxes on the thing sold
In a contract of sale with pacto de retro, the price is usually less than in absolute sales for the reason that
in the former, the vendor expects to reacquire or to redeem the property sold and thus recover the loss the vendor claims suffered by reason of the inadequacy of the price
in the former, the vendee expects to reacquire or to redeem the property sold and thus recover the loss the vendor claims suffered by reason of the inadequacy of the price
in the former, the vendor does not expect to reacquire or to redeem the property sold and thus recover the loss the vendor claims suffered by reason of the inadequacy of the price
in the former, the vendor expects to reacquire or to redeem the property sold and thus recover the loss the vendor claims suffered by reason of the adequacy of the price
What is the presumption in case of doubt?
Equitable mortgage is favored by law. A contract purporting to be a sale with the right to repurchase shall still be regarded as an equitable mortgage.
Equitable mortgage is favored by law. A contract purporting to be a sale with the right to repurchase shall not be regarded as an equitable mortgage.
Equitable mortgage is favored by parties. A contract purporting to be a sale with the right to repurchase shall still be regarded as an equitable mortgage.
Equitable mortgage is favored by law. A contract purporting to be a mortgage with the right to repurchase shall be regarded as a sale.
Presumption, an exception to the general rule
that doubts affecting an onerous contract shall be settled in favor of the greatest reciprocity of interests
that doubts affecting an onerous contract shall be settled in favor of the greater reciprocity of interests
that doubts affecting a gratuitous contract shall be settled in favor of the greatest reciprocity of interests
that doubts affecting an onerous contract shall be settled in favor of the least reciprocity of interests
It is the remedy in equity by means of which a written instrument is made or construed so as to express or conform to the real intention of the parties when such intention is not expressed in the instrument.
(a)
In reformation, there has been a meeting of the minds between the parties, where there has been no meeting of the minds,
the remedy is annulment
the remedy is ratification
the contract is void
the contract is pacto de retro
In the absence of express agreement, the right to article 1601
shall last four years from the date of contract
shall not exceed ten years from the date of contract
the vendor may still exercise the right to repurchase within thirty days from the time the final judgment was rendered
all of the above
Should there bee an agreement, the right to article 1601
shall last four years from the date of contract
shall not exceed ten years from the date of contract
the vendor may still exercise the right to repurchase within thirty days from the time the final judgment was rendered
all of the above
In the case of real property, the consolidation of ownership in the vendee by virtue of the failure of the vendor to comply with the provisions of article 1616
shall not be recorded in the Registry of Property without a judicial order, after the vendor has been duly heard
shall be recorded in the Registry of Property without a judicial order, after the vendor has been duly heard
shall not be recorded in the Registry of Property without a judicial order, before the vendor has been duly heard
shall not be recorded in the Registry of Property with a judicial order, after the vendor has been duly heard
The right to repurchase is of a real character and should not be considered personal subject to exceptions.
This means that the vendor a retro cannot exercise right of redemption against a subsequent transferee for value and in good faith if his right is not properly registered or annotated
This means that the vendor a retro can exercise right of redemption against a subsequent transferee for value and in good faith if his right is not properly registered or annotated
This means that the vendor a retro cannot exercise right of redemption against a precedent transferee for value and in good faith if his right is not properly registered or annotated
This means that the vendor a retro cannot exercise right of redemption against a subsequent transferee for value and in good faith if his right is properly registered or annotated
The vendee is subrogated to the vendor's rights and actions.
A pacto de retro sale transfers ownership to the vendee although subject to the condition of repurchase.
As owner, the vendor may transfer or alienate the property to a third person.
The vendor can transfer ownership if the vendor is not the real owner.
As owner, the vendor enjoys the fruits of the property.
The creditors of the vendor cannot make use of the right of redemption against the vendee,
until after they have exhausted the property of the vendor
until after they have exhausted the property of the vendee
until before they have exhausted the property of the vendor
until before they have exhausted the property of the vendee
In a sale with a right to repurchase, the vendee of a part of an undivided immovable who acquires the whole thereof in the case of article 498,
may compel the vendor to redeem the whole property, if the latter wishes to make use of the right of redemption
may compel the vendee to redeem the whole property, if the latter wishes to make use of the right of redemption
may compel the vendor to redeem the partial property, if the latter wishes to make use of the right of redemption
may compel the vendor to redeem the whole property, if the former wishes to make use of the right of redemption
If several persons, jointly and in the same contract, should sell an undivided immovable with a right of repurchase,
none of them may exercise this right for more than their respective share.
all of them may exercise this right for more than their respective share.
none of them may exercise this right for less than their respective share.
some of them may exercise this right for more than their respective share.
The following statements pertain to redemption in joint sale by co-owners/co-heirs of undivided immovable. Choose the incorrect statement.
The co-owners of an undivided immovable sold by them jointly or collectively and in the same contract with the right to repurchase, can exercise such right only as regards their respective shares.
Similarly, the co-heirs of the vendor of an undivided immovable, can exercise the right of redemption only for the respective portions they have inherited.
The vendee a retro can refuse partial redemption. He may require all the vendors or all the heirs to redeem the entire property or to agree to its redemption by any one of them.
The right of a co-owner who chooses to redeem accrues to the benefit of the others.
The following statements pertain to redemption in joint sale by co-owners/co-heirs of undivided immovable. Choose the correct statement.
The co-owners of an undivided immovable sold by them jointly or collectively and in the different contract with the right to repurchase, can exercise such right only as regards their respective shares.
Similarly, the co-heirs of the vendee of an undivided immovable, can exercise the right of redemption only for the respective portions they have inherited.
The vendor a retro can refuse partial redemption. He may require all the vendors or all the heirs to redeem the entire property or to agree to its redemption by any one of them.
The right of a co-owner who chooses not to redeem accrues to the benefit of the others.
A co-owner cannot redeem more than the respective share in the co-ownership.
True, the redemption by a co-owner of the property in its entirety, shouldering the expenses therefor, does not make the co-owner the owner of all of it.
True, the redemption by a co-owner of the property in its portion, shouldering the expenses therefor, does not make the co-owner the owner of all of it.
True, the redemption by a co-owner of the property in its entirety, shouldering the expenses therefor, does make the co-owner the owner of all of it.
True, the redemption by a co-owner of the property in its entirety, but not shouldering the expenses therefor, does not make the co-owner the owner of all of it.
Each one of the co-owners of an undivided immovable who may have sold their share separately,
may independently exercise the right of repurchase as regards their own share, and the vendee cannot compel the co-owner to redeem the whole property.
may independently exercise the right of repurchase as regards their own share, and the vendor cannot compel the co-owner to redeem the whole property.
may independently exercise the right of repurchase as regards their own share, and the vendee can compel the co-owner to redeem the whole property.
may independently exercise the right of repurchase as regards the whole share, and the vendee cannot compel the co-owner to redeem the whole property.
Statement 1: If the vendee should leave several heirs, the action for redemption cannot be brought against each of them except for their own share, whether the thing be undivided, or it has been partitioned among them.
Statement 2: If the inheritance has been divided, and the thing sold has been awarded to one of the heirs, the action for redemption may be instituted against him for the whole.
Both statements are true.
Statement 1 is true.
Neither of the statement is true.
Statement 2 is true.
The vendor cannot avail of the right of repurchase without returning to the vendee the price of the sale, and in addition:
The expenses of the contract, and any other illegitimate payments made by reason of the sale.
The unnecessary and useless expenses made on the thing sold.
Both statements.
Neither of the statement.
The mere declaration by the vendor of the intention to exercise the right of repurchase is not sufficient to preserve the right of redemption.
True, the law requires that the offer must be a bona fide one and accompanied by a tender of the price agreed upon for repurchase.
True, the law requires that the offer must be a bona fide one and accompanied by a tender of the price agreed upon for purchase.
True, the law requires that the offer must be a bona fide one or accompanied by a tender of the price agreed upon for repurchase.
False, the law requires that the offer must be a bona fide one and accompanied by a tender of the price agreed upon for repurchase.
The following statements are the right of parties as to the fruits of land. Choose the incorrect statement.
If there were fruits at the time of sale and the vendee paid for them, the vendee must be reimbursed at the time of redemption as the payment forms part of the purchase price.
If no indemnity was paid by the vendee for the fruits, there shall be no reimbursement for those existing at the time of redemption.
If the property had no fruits at the time of the sale and some exist at the time of redemption, they shall be apportioned proportionately between the redemptioner and the vendee.
If there were fruits at the time of sale and the vendor paid for them, the vendee must be reimbursed at the time of redemption as the payment forms part of the purchase price.
Statement 1: The vendor who recovers the thing sold shall receive it free from all charges or mortgages constituted by the vendee.
Statement 2: The vendor shall respect the leases which the vendee may have executed in good faith, and in accordance with the customs of the place where the land is situated.
Both statements are true.
Neither of the statement is true.
Statement 1 is true.
Statement 2 is true.
The right to be subrogated, upon the same terms and conditions stipulated in the contract, in the place of one who acquires a thing by purchase or dation in payment; or by any other transactions whereby ownership is transmitted by onerous title.
(a)
The following are the requisites for the right of legal redemption of co-owner to exist. Choose the incorrect statement.
There must be a co-ownership.
There must be alienation of all or any of the shares of the other co-owners.
The sale must be to a third person or stranger, a non co-owner.
The sale must be after partition.
The following are the requisites for the right of legal redemption of co-owner to exist. Choose the incorrect statement.
The sale must be before partition.
The right must be exercised within the period provided in Article 1623.
The vendee must be reimbursed for the price of the sale.
The vendor must be reimbursed for the price of the sale.
A co-owner has the legal right to sell, assign, or mortgage his ideal share in the property held in common.
True
False
Co-owners have no right of legal redemption against each other to whom the law grants the same privilege, but only against a third person.
True
False
Should any of the heirs sell his hereditary right to a stranger before partition, any or all of the co-hers may be subrogated to the rights of the purchaser by reimbursing him for the purchase price, provided it be done within the period of one month to be counted from the time they were notified in writing of the sale by the vendor.
True
False
The right of legal redemption is not granted solely and exclusively to the original co-owners but applies to those who subsequently acquires their respective shares while the community subsists.
True
False
The following are the requisites of legal redemption of adjacent owners of rural lands. Choose the incorrect statement.
Both the land of the one exercising the right of redemption and the land sought to be redeemed must be rural.
The lands must be adjacent.
There must be an alienation.
The piece of rural land alienated must exceed one (1) hectare.
The following are the requisites of legal redemption of adjacent owners of rural lands. Choose the incorrect statement.
The piece of rural land alienated must not exceed one (1) hectare.
The vendee must be already own some rural land.
The rural land sold must not be separated by brooks, drains, ravines, roads and other apparent servitudes from the adjoining lands.
The rural land sold must be separated by brooks, drains, ravines, roads and other apparent servitudes from the adjoining lands.
This has been defined as the act or right of purchasing before others.
(a)
This is exercised after the sale against the vendee.
(a)
The following are the requisites of pre-emption and legal redemption of adjacent owners of urban lands. Choose the incorrect statement.
The piece of land is urban land.
The one exercising the right must be an adjacent owner.
The piece of land sold must be so small and so situated that a major portion thereof cannot be used for any practical purpose within a reasonable time.
Such rural land was bought by its owner merely for speculation.
The following are the requisites of pre-emption and legal redemption of adjacent owners of urban lands. Choose the incorrect statement.
It is about to be resold, or that its resale has been perfected.
The one exercising the right must not be an adjacent owner.
The piece of land sold must be so small and so situated that a major portion thereof cannot be used for any practical purpose within a reasonable time.
Such urban land was bought by its owner merely for speculation.
