If the homesteader sells the property before the lapse of the 5-year prohibition, what is the nature of the contract?

Related MCQs

• Magdalene and Shantung Company entered into a contract of agency before the consul general of the Philippines in Singapore. They stipulated that Magdalene shall be the administrator of the real properties of Shantung Company in the said country. By virtue of the said contract, Magdalene sold the 1 hectare land of Shantung Company located in Singapore to Mayhem Real Estate Corporation without any special power of attorney. The said contract of sale was executed before the vice consul of the Philippines in Singapore. Under the laws of Singapore, the sale of a real property by an agent without a special power of attorney is valid. Shantung Company filed a suit for the annulment of the contract of sale on the ground that Magdalene has no authority to sell the property. If you were the judge, which of the following courses of action should you take?
• A and B entered into a contract of sale over A’s property. The document that evidences the contract did not state how much was paid, but A delivered the property to B. What is the nature of the contract?
• A constituted B as his agent to sell his property. B found C as the buyer who was willing to buy under the terms agreed upon but suddenly A changed his mind and decided not to sell the property. One week later, A and C, entered into a contract of sale over the property. Is B entitled to commission?
• Seller wrote a letter to Buyer offering to sell a piece of land for P500,000. Seller gave Buyer two months to decide and pay the purchase price. Before the lapse of two months, Seller wrote Buyer that the price is now P700,000. Buyer insisted on an acceptance for P500,000. He wants to compel Seller to execute a deed of sale for the original offer of P500,000. May the Seller be compelled to honor the P500,000 offer?
• A borrowed money from Metrobank and executed a mortgage over his house and lot as security. No period has been agreed upon on the date of payment. Before the lapse of ten (10) years, the bank foreclosed the mortgage. Is the bank correct?
• No. 1 – The mortgagor in a real estate mortgage may sell the property mortgaged despite a prohibition to that EFFECT. No. 2 – If there is a balance after the foreclosure sale in a chattel mortgage arising he deficiency cannot be recovered.
• A and B entered into a contract of sale over A’s house but did not reflect the actual purchase price. What is the nature of the contract?
• X and Y entered into a contract. X agreed to deposit P50,000 with Y’s account to make it appear that Y had sufficient capitalization in forming an incorporation. They agreed that Y should return the money plus 12% interest within 30 days. What is the nature of the contract?
• ABS-CBN entered into a contract with WR under certain terms and conditions. Both parties violated their contract, to the extent that WR transferred to another station despite the contract.
• A contract of lease was entered into between A & B with a provision that it is for a period of 5 years renewable for another 5 years. The contract expired on June 30, 2010 but up to now, the lessee is still in possession of the premises. What does the implicit renewal of the contract mean?