Question 3S sold to B a lot with an area of 100 square meters of garden soil at a price of P1,000 per square meter. Within six (6) months from the date of delivery of the lot, B discovered that the actual area of the said lot consists of 90 square meters garden soil and 10 square meters sand soil. What is the remedy available to B regarding this inferior quality of the lot?Group of answer choicesAsk for proportionate reduction of priceAsk for rescission or cancellation of contract of sale of the 100 square meters lotEither a or bNeither a nor b Question 4In case of double sale of titled immovable or real property, who among the buyers of the said immovable property from the same seller shall prevail?Group of answer choicesBuyer with the oldest titleFirst possessor, either actual or constructive possession, of the immovable property in good faithFirst payor of the immovable in good faithFirst registrant of the deed of sale of immovable property in good faith. Question 5This committee is created by the General Assembly and not by the BODs:Group of answer choicesEthics CommitteeAudit CommitteeMediator and Grievance CommitteeExecutive Committee Question 6What is the only group for right of stoppage in transitu?Group of answer choicesWhere the goods have been sold without any stipulation as to creditWhere the goods have been sold on credit, but the credit term has expiredWhere the buyer is insolventWhere the goods are perishable in nature Question 7It refers to one of the two alternative remedies available to buyer of a thing in case of breach of warranties against hidden defects, of merchantability, of merchantable quality or fitness for a particular purpose whereby there is a prayer by the buyer for withdrawal or for rescission or for cancellation of the contract of sale.Group of answer choicesAccion redhibitoriaAccion quanti minorisAccion paulianaAccion reindivicatoria Question 8A, B and C are co-owners of a specific land. On October 1,2020, C absolutely sold his 1/3 share in the said land to D under a deed of absolute sale. Which of the following statements is correct?Group of answer choicesA and B may legally repurchase the 1/3 share of the land sold by C to D proportionately despite the absence of the agreement in the deed of sale for repurchase.C may legally repurchase the 1/3 share of the land he sold to D by virtue of legal redemption.No one from A, B or C can repurchase the 1/3 share of the land sold by C to D because the deed states it is an absolute sale.None of the choices. Question 9Under the Statute of Frauds, the following contracts must be in writing, otherwise they cannot be enforced in court litigation exceptGroup of answer choicesSale of personal property at a price not more than P300.00Sale of real property regardless of the price involvedSale of property not to be performed within a year from the date thereof regardless of the nature of the property and price involvedAnswer not given Question 10Only natural persons can form this cooperative.Group of answer choicesPrimary CooperativeSubsidiary CooperativeTertiary CooperativeSecondary Cooperative Question 11A cooperative has a net surplus of P10M for the fiscal year 2018. How much should be spent for Land & Building Improvement?Group of answer choicesNot more than P700,000Not more than P300,000Not more than P1,000,000Not more than P2,500,000 Question 12On January 1, 2021, S sold a specific lot to B. Unfortunately, the said lot is encumbered by a nonapparent and unregistered burden or servitude of septic tank. On July 1, 2021, B discovered the said servitude. What is the legal remedy still available to B?Group of answer choicesAction for rescission or cancellation of the sale of the lotAction for indemnification for damagesEither a or bNeither a nor b Question 13What is the minimum grace period allowed by law to pay a defaulted instalment without additional interest to a buyer of residential real property in instalment when he has only paid less than two years of instalments?Group of answer choices30 days60 days90 days120 days Question 14Which of the following contracts is not governed by the rule on double sale?Group of answer choicesContract to sellAgency to sellBoth a and bNeither a nor b Question 15Which of the following is not a requisite to enforce vendor’s liability in case of eviction of the buyer on the ownership of the thing sold?Group of answer choicesThere must be a final judgment depriving the vendee of the whole or part of the thing sold.The deprivation is based on a right prior to the sale or an act imputable to the vendor.The vendor must have been notified of the suit for eviction at the instance of the vendee.The vendor must have acted in bad faith.

Question

Question 3S sold to B a lot with an area of 100 square meters of garden soil at a price of P1,000 per square meter. Within six (6) months from the date of delivery of the lot, B discovered that the actual area of the said lot consists of 90 square meters garden soil and 10 square meters sand soil. What is the remedy available to B regarding this inferior quality of the lot?Group of answer choicesAsk for proportionate reduction of priceAsk for rescission or cancellation of contract of sale of the 100 square meters lotEither a or bNeither a nor b Question 4In case of double sale of titled immovable or real property, who among the buyers of the said immovable property from the same seller shall prevail?Group of answer choicesBuyer with the oldest titleFirst possessor, either actual or constructive possession, of the immovable property in good faithFirst payor of the immovable in good faithFirst registrant of the deed of sale of immovable property in good faith. Question 5This committee is created by the General Assembly and not by the BODs:Group of answer choicesEthics CommitteeAudit CommitteeMediator and Grievance CommitteeExecutive Committee Question 6What is the only group for right of stoppage in transitu?Group of answer choicesWhere the goods have been sold without any stipulation as to creditWhere the goods have been sold on credit, but the credit term has expiredWhere the buyer is insolventWhere the goods are perishable in nature Question 7It refers to one of the two alternative remedies available to buyer of a thing in case of breach of warranties against hidden defects, of merchantability, of merchantable quality or fitness for a particular purpose whereby there is a prayer by the buyer for withdrawal or for rescission or for cancellation of the contract of sale.Group of answer choicesAccion redhibitoriaAccion quanti minorisAccion paulianaAccion reindivicatoria Question 8A, B and C are co-owners of a specific land. On October 1,2020, C absolutely sold his 1/3 share in the said land to D under a deed of absolute sale. Which of the following statements is correct?Group of answer choicesA and B may legally repurchase the 1/3 share of the land sold by C to D  proportionately despite the absence of the agreement in the deed of sale for repurchase.C may legally repurchase the 1/3 share of the land he sold to D by virtue of legal redemption.No one from A, B or C can repurchase the 1/3 share of the land sold by C to D  because the deed states it is an absolute sale.None of the choices. Question 9Under the Statute of Frauds, the following contracts must be in writing, otherwise they cannot be enforced in court litigation exceptGroup of answer choicesSale of personal property at a price not more than P300.00Sale of real property regardless of the price involvedSale  of  property  not  to  be  performed  within  a  year  from  the  date  thereof regardless of the nature of the property and price involvedAnswer not given Question 10Only natural persons can form this cooperative.Group of answer choicesPrimary CooperativeSubsidiary CooperativeTertiary CooperativeSecondary Cooperative Question 11A cooperative has a net surplus of P10M for the fiscal year 2018. How much should be spent for Land & Building Improvement?Group of answer choicesNot more than P700,000Not more than P300,000Not more than P1,000,000Not more than P2,500,000 Question 12On January 1, 2021, S sold a specific lot to B. Unfortunately, the said lot is encumbered by a nonapparent and unregistered burden or servitude of septic tank. On July 1, 2021, B discovered the said servitude. What is the legal remedy still available to B?Group of answer choicesAction for rescission or cancellation of the sale of the lotAction for indemnification for damagesEither a or bNeither a nor b Question 13What is the minimum grace period allowed by law to pay a defaulted instalment without additional interest to a buyer of residential real property in instalment when he has only paid less than two years of instalments?Group of answer choices30 days60 days90 days120 days Question 14Which of the following contracts is not governed by the rule on double sale?Group of answer choicesContract to sellAgency to sellBoth a and bNeither a nor b Question 15Which of the following is not a requisite to enforce vendor’s liability in case of eviction of the buyer on the ownership of the thing sold?Group of answer choicesThere must be a final judgment depriving the vendee of the whole or part of the thing sold.The deprivation is based on a right prior to the sale or an act imputable to the vendor.The vendor must have been notified of the suit for eviction at the instance of the vendee.The vendor must have acted in bad faith.

Accepted Answer

Hi student
Since there are multiple questions, we will answer only first question. Ques no. 3 and 4…

This committee is created by the General Assembly and not by the BODs: Group of answer choices Ethics Committee Audit Committee Mediator and Grievance Committee Executive Committee