MULTIPLE CHOICE (I hope you can help me, tutor! Thanks a lot! Stay Safe!)

1. A public sale where items are sold to the highest bidder.

a. Bidding

b. Auction sale

c. Storage wars

d. None of the above

2. An amount advanced by the prospective buyer for the purpose of keeping the period of acceptance open for the prospective buyer up to the last day.

a. Arras

b. Option Money

c. Down payment

d. Consideration

3. An unaccepted unilateral promise to buy or to sell.

a. Unperfected contract of sale

b. Politicsinaction

c. Policitation

d. Unilateral buy or sale

4. A contract of sale with a right to repurchase by the seller.

a. Pactum Commissorium

b. Pacto sunct servanda

c. Pacto de Retro

d. Repurchased sale

5. An outright sale without any condition imposed.

a. Sale

b. Conditional sale

c. Absolute Sale

d. None of the above

6. An object of sale which has been particularly designated and physically segregated out of a particular class

a. Absolute

b. Conditional

c. Specific

d. Generic

7. A contract which is completely fictitious or make-believe and the parties have no intention to be bound by the contract.

a. Inexistent contract

b. Fictitious contract

c. Absolutely simulated contract

d. Relatively simulated contract

8. It refers to the gross inadequacy of the consideration.

a. Insufficient price

b. Liason

c. Lesson

d. Lesion