Escolar Documentos
Profissional Documentos
Cultura Documentos
Atty.M. S. Bonafe
1. A, B, and C as partnens in a padners in a partnership s,tipulated and inutually agreed Urat R sfratf66?ilrare in the profits
2'and losses. Is the agreement valid as among the partners onfy-and not against third perscns?
Yes, because among the partners it is valid to exernpt one ftorn sharirg in the profits and losses,
Yes, valid as long as third percons are not prejMiced.
1c 'r Not valid stipulation exemptirp a partrrcr frorn sharing prof,rB and lcses.
Not valid as against third persons or partrrership creditors.
'--
a.
L
d.
2. A newly admitted partner shall be liable fior the pre-o<isting obligations of the parbrership at the tinre of his admissbn in
fa,t.lrof partnerchipcreditorsuptotheextentof hiscapital contribution.. -.--t;, '',t y,,_t,t
t,"
I'l a{ 'VtYl"
,;r iridustrial parher shall not share in the losses and his share in the profits shall be iugJ_aOd-equitabk- under the
ai.itmstances,
First stdrertent is false, second statement h true.
tiotn
are true.
Q_')
--.-
.r.
.
a.-
---t
-->y*rJ'
,,
l-[f
5 H pa:trrcr
who is liable to the partnersh,p fir,ldrmag", O* to his fault may claim ffih.iil#.iif
extraordinary efforts in otlrer activiths of the partner:;hip unusual profits have been reEiiTecl. -
,, ,.
hii
tnrough
r.
_ ,1 ,.,
l', ff ,Jrl(t.l
is
false.
6. A contributed P1M, B contributed PtM, and C contributed services. They agreed to divide the prcfts.a:r_-d_lqgsqs eqrally. In
case of loss of P.3M, fur how much, if any, is C li,able?
Nothing, because an industrial partrer is exqnpt from losses.
P.1M but with reimh,rrsement from A ard I equalty.
A and B alone shall slouder the loss at C's option.
(;,rrr t
,,'
P.1M
',1 o.iri
a.
b,
c.
O
Li
-.r
/p.
r Just and
no_
agreernent as
8. Based on the preceding number, what sfrall be his share in the loss?
a.
b.
c.
(')*on"
a.
b.
PIM
pid
25o/o
paid.
No,becausehissrureshavebecornederinquentshares.
ftLtr.l(.,1[rr,[,
1,
..,i..,.i',.t
10. X C-orporati,on posted a P1M proft in its realty business and its real estate has appreciated in value to the tune of p4M.
The board then declared dividenG computed on the basis of P5M representirq pofiE ard appreciatbn in value of its
real estate. Is the dividend declaration valki?
Not valid because there was no 2/3 ratification by the outstanding capital stock.
b._ Valid beirg based on profits and irrcrements in the value of the corporate 6sets.
: i(a 'tlolvalid because divirlends mustconre mty from the
0,
Valid if crcditors do not object nor protest against the sanre.
a.
dl
profits.
i,{r,,/: r,',. , , |
\Il'Nt?lll/,
11.
. ww4v'n ,w
vYvlTtlvi,r*
,*oF^
6il f"y*^7
subssibed to 100 stnre of X corporation, payhg 25olo thereof. Despite the dernand by a for the issuance of sbck
certificate, the corporation refuses b issue one corresponding to lhe 25o/o paid. Meanwhile, the corporation has become
insolvent and A now refuse to pay hb unpaid balance on his subscriptbn. Is the refusal to issrc a stock certifrcate
A,
valid?
{
tl
d.
flot valid, because stmk certificate can be issued for the paid portion of the subscription.
b. ) VatiO,
Valid. because
becarrse stock
sbck cqtific
cst.ift te can only
onlv be issued after full payment
oavme-nt of the subscriptiorr.
srrhsrrintbrr
(U.
Valid as regards the unpaid percentage on the subscriptbn.
Not valid because only delinquent shares may be denied sbck ceftifrcate.
12. Based on tle facts in the preceding number, can a validly retuse to pay the unpaid balance on his zubscription now that
lhe corporation ha
potectbn of creditor:;
tlrfr,nfnr
/a. ) no, uMer
pqcrt) i&,til (61p','',frr('t
il of corporate frction.
No, under
o,,
'fes, because of the insolvency of the corporation which also extinguished his obligation to pay the balance.
,
Ye,s, because of the denial of his rlg
the
the
\lrl
Li
'llre
li
c(
E(
the
rfard.
-,''rrr
hold
--
lrei-ect
officer
bue.
c.
Both are
L4
(d.)
qxcept:
Private corporations have the fiOllowing a 1butes,
rs' g=!:
15
Trustees
is an
A Itttl*y
6)
t1 It has t
a. It nas the pow
on[,
r.
Eue.
Jqt '
r2^- -.
Fnt
fiilil ;: ffi
tlar:,rii,, of the fottowins must q4f@Br rre enirrppirFslcepc
- z
a. Directors
c^ Incdrporators
b.
iX the members of
',r+wlvofiaafl friltf
D'r' ttov
)luk
t"
-lrtcv
"'
^n^J:
'
'tWkW
n-(lm t\ &?af
) *-*"il*" tr'^'n
'w wa v' 1 urAAtLLt
1! att'NY'
- U&5rDE\15
-=__, 9^L0'P' ' *tlaary't'.
Officers
i.allavw or charter. (
'
cocCt/p^tt. W I
dxcepti
,.
t\ Electionof direcbrs -D ufuh rcr r*i(lti fttLJc. Dissolutionof thecorporation
b. lricrease or decrease of capital stock ' '
d. Merger or cmsolklation i.
17Att.heannualmeetingofttrecorporati,onrorttreeteaMorn,.oi,oto,,,o,,..,-q,,iuffitr,-,
AlG
irl thiee of the fulhwing cases, all shares have voting rights,
C, D, and E received the highest number of votes and thus proclaimed as elected. F received ten (10) votes less than
Subsequently, E sold his shares to F, Who, between E ard F has the right to attend as direcbr?
E is the director because hb term b one year until his successor is elected and qualified.
F is the director because he has bought the shares of E.
Both of them shall be direcbrs.
ileither of thenr shall be dkecu.
E.
a.
b.
c.
(
18. ABC corporation has an autfprized capital sbck of PlM divkled into 50,000 co{nnrln shares and 50,000 prefuned
shares. At iE inception, tfe corporation offered fur subscription all ste comnpn shares. However, only 40,000 shares
were subscribed. Recently, the direcors thot{ht of rabing additicnal capital and decided b offer to tlre publk all the
res have pre-emptive right b the
81- to*s
d.
19.
No, because he has waived this right vyhen Ire subacribed to a part on ly of the issuarrce of shares.
on the facts of the precedirg number, would X also have pre-emptive right to BE 50,000 preferred shares?
Yes, because all stockholderi nave pre-emptlve rQhts to all issues of ihgres
glAgq- in proportion to their
-of-anJ.
B^ased
,6)
b.
c.
d,
sharefioldings.
No, because pre-emptive rights do not apply to the issuarrce of unissued shares.
Yes, because pre-ernptive r@hE apply only to the issuarrce of unissued shares.
No, because X has waived his pre-emptive rights to the issuance of prefened shares when tre subscribed
cornrTon shares,
the
20, The corporation has a nine-mernber board of directors. Two of the members soU their shares while two others are
Three
'P ffiililT:rTffifffi*Pof
d.
bvbws
d.
Four
Mrr\c, il
,fi
c1
/,
'r''
rr"' i 'lr'
l'
Ji,,t{64 <,14,,
'1
'
a.
b.
.fo,ctholders
a
b.
stod
c,
nl.l
d.-'zlz
I stock -+ w 1i/wrfuui ,itJ71lt
$ oArqoR rc1"r1'r'1r'; o"l{ J ',vtII (Al(f
thecorporation, thisissupreme:
'M
c- SbckltoHers
President
C)
*ordirecbrs
24. Three of the llolbwirq are requisites tur the existence of de facto corpora
-';..Tctuat
9VC Incorporated ,tio", u ,uiid
Exbting
Attenrpt in good faith to
lr*
Niili,lrt
organize
a.
t-
use
in
J;
.:
b.
age
persons
NI(
wers
pr
l r.-t
, arq.'
c.
.,, He holds tlre instrurnent fnee fronr defucls of title of prior parties.
, iee om defenses of prior parties among thernselves.
' iirrorce payment against all parties liable thereon.
.
tl,lorc^( \urt(
7 , i'trlds the instrument as if it were non-negotiable. lflat, [D[ , d.ue cGurk ( ''" 1c('t;s
F
t'i
' l\t-!..Ji
ti -.
e
d
rhe fotlowing is
1.'-t
Pay to the order of Pedro Cruz P1M (Sgd) lose Santos To: A or B
, pnrmise to pay to the order of the bearer P1M. (Sgd) M
Due to Bearer P1M or a BMW car worth P1M at his option. (Sgd) M
Pay to the order of myself PlM. (Sgd) D To: W
i3. llree
Vtq^\y((,- lrr^,,J;
pwr{tg Jkt,ratii( or F
!ur(r,,.6
a.
:
c
l-
'l-hat
6.
\-/
2 -1.
A rla<es a mte payable to B or order. Tte blbwing are the indorsers of the note in the order of their indorsements: B,
( . l-'. '-, Fl trolder) and G(subsequent hotder). Ttre ncite is diihbhored rn-Ure hands Of F, who notifies B, e, D, E. Whieh is
frir.. COITCT]I?
.r. The
notice given by F to B operates to the benefit of C, D, E, and G.
). -ite: notice to C inures to the hnefit of D, E, and G.
c. lTre notice to D inures to the benefit of E and G.
( t{l The notfe to C inures b the benefit of 8.
hdor f'l . ,^,{o , r,e
la. (fud) A To:
hb absence X.
(ltu,,
B7
\r(,r,!
, .1,{irr
"l
P who endorses it to x in tfiis manner:
b X. (Sgd) P."
Later X, without indorsing tjrc note delivers the sann to Y. The note is subsequently dishonored by M. May Y proceed
against M for the note?
No, because the special indorsement of P has made the note tD be payable to order and must be endorsed b
negotiate.
b Yes, because an instrument originally payable harer rernains to_be payable bearer depite spechl
"Payable
a.
ar^
b
b
\ I
L/ mOorsenrentmadethereon. ''0g(r hc,nv , atwc!( b.q,.6, ' (fu,, l6tlf,,* Lro"r, 12)
c.
c.
Yes, because M, as maker, is absolutely liable to pay the insbument in the hands of any holder.
d,
--
mt
rr-'v";'s [""
X
t
,. .
**"i, *"O-,nt**i1D arcoo*t,dale J P"\ 1""'l
'ti' 'int,, tl
Cd. r:r;;yt";;ff;;
other act which discharges a simph conmct for the payment of morrey.
By any.other
t
ltrlf[ol[
g"[9"
.!u,r 1..rfl
[r[t rn,rv
1q,ry aaUcti
9'Cr,-,i\<,r
distil uished from dation in payrnent
Thedebto
C.
The
p. ) fne
d,
emect
prope
a perfornnnce of the
obligation.
z*.fi'\
/:''R,s,t,A
Page 4 of 19
P2O,OOO whhh irccame due and payable hst June 23, ZOO[. On tlmt datE A offered B P10,0O0, tfrc otly
money he then had, but B refused to accept ttn payment. A thereafter tnet C, 8's 23 year old son, b whom he gave
the P10,fi)0 wrth tfrc request that he tum ttn noney over to B. The money was stolen while C's possession. How
rnueh rnay B still recover frorn A?
34. A owes B
P20,(mo
b. P10,000
c.
Q. 35.
P15,000
c. P -0-
If a third persons pa)6 an obligation. What are the rights, whhh are available to him if he pays the obligation with the
knowledge and consent ot the debtor?
Fi,st Answer - He can recover fiom the debtor the entire annunl which he has paid.
Fecond Answer - He subrogated to all of the righB of the creditor,
c. Only the first answer is conect
Both answers are correct.
d. Only the second answer is correct
ilriiir lnswers are wrorB
i.r.
l.
i't
. E anci executed a promissory note binding themselves tro pay f}9,000 to X, Y and Z. The note is now due and
,reoldrddble. Can the creditors pnxeed against A alone for tste payment of tfn entire
fio. e;rch creditor can collect only P3,000 ftom A.
b--. ':i,, erttitr X, Y or Z can colbct P9,000 fiom A.
,,io, dcl'r..rerfitir can collect onty P1,000 ftom A.
YEs, ,riJ;6p thc promissory riote is silort with respect to the r(lhts of the creditors, tfE obligation is presumed b be
.:
ffit.
a.
1i.
' t.
;olicriy.
:i''.
I,rsiire
lio.fii,
be held liable
br
a. Yes, the rleirt shall be pesumed to be clividecl into as many equal shars as there are debtors.
l, Yes, but A ;.nd B will be liable proportionately.
No, the debts are corsidered distinct frrorn one alrcther.
6
-S.t ll),
onil either A and B but not both will be liable.
,t
il,
/-'
ireditcrrs.
ies, insoFar as A is concerned hrt mt with regard to I ard C.
V-f
. ti()t trr-ar-rse the demand should have been rnade to all the debbrs.
:;. ,'r,'r, ril re creditors should have rnade the dsnand
^tf.
')
,,i;r r Nc. -fsi'anrl artrEriptix]*sets in, trcw much can Y collect from A?
,,. l!1,0(i0
,: i,iotrC
'ft
.1J. rusrr'rg; ilo. 154. how riruch can X collfft ftorn A?
i. fxJ,000
b. -P3'r:00c
w :' fi6t1
-7
'{
a.
b.
c.
6)
Lz
c P1,000
p.Y+
\
/--,
c.,.P1,000
d. P -0-
sufittisidivisit{e.
1n1[i'1rr
roll(
obiigatbn rernains
Refers to the hqal tie or vinculum
nefers to
fie prtstatkil
42. When one of the parties has broight an action to enforce the instrument he carrrnt subsequently ask br its reformatbn
,Ihe injurcd party may seek rerission, even afts he has chosen fulfillrnent if the latter should be{ome impossibh.
(a, , True,
c. False, tue
b. True, false
urre
a.
b.
Negotinrum gestio
Solutio indebiti
---*-'*
'14. The loss or deterioration of the thing intended as a substjtute through ttre negtigence of the obligor does not render
him,
liable ,
i
45.
a.
b.
Th
a.
b. At the domkile
(c)'.
Y-
c. False, true
d. False, hlse
rTrue, Eue
True, false
of the sedibr
Whereve the thing might be at tfn nrcment the obligation was constituEd
Wtrererrer the thing mfint ne at the amount trre obligition is to be
tutfiiled
k^f1
\.(
,..-f r , r,vr {[., thr''l i
I
45.Des.Bnd is
c.
d.
useless
'-s
,.,
ltgoA: t ne reueu,
UGnOOI OI
ACOOUnEnGy
Page 5 Ol 19
a.
b.
qB.
,a,
(n.
-.1
c.
rr.
shed frorn
J# i''
couts
cause damage or prejudice
Responsibility arising thereftcm is demandable
4.). A t,assenger on a truck was hurt but in a criminal case against the driver, saiJ driver was acquitted. The victim now
>l r.: lih c'.rrrrer of the truck for culpa contractual. May the suit still prosper?
the ohligor binds himself to perfonn his obligation "as soon as he shall have obtained a loan" from a certain bank.
obligatiorr is
',Vilh a term
i Wirh a suspersive
:,-1i.,
f-.
.
ii
i,
condition n,.-t
^iE
"
c. With a period
d. Wilfi a resolutory
pt.,rr<f
condition
1. O rc ts not a requisite needed in order that obligation shall be extinguished by loss or destnrction of a thing due
When the obligation is to deliver the house located at 123 Recto, Avenue, Manila
a.
i',
'U
52 I:
redy
and
.
t'j
obtiqatioir
Prix'rissory note
Bill cf exchange
.willing
rl'l
n,nr,,.t t[. ]l
'
a
t
Ori Jti-re 30, 2003. the nnitgaged horce completety desboyed by fire thru the lault of C. A week later, B demanded
L.;.ivr'lient
frcm
A. ls B's dernand
valid?
r r.ll,, tne oestruc'Lton of the house was rrct Uru trtc' fault of A
b i'lo, ttre obligation is one with a clefinite perrcd which is deerned intenffi fs the benefit
/^'. rti,diu
( c Yes, tlrc debt becornes dernandable unless A can give amther secrrty equally satisfdctory
{. Yes, the debt becomes demandable even if A can give arrcther security equally satisfactory
54. An acticn Eo imBlgn the acts of a debtor intended to defraud the creditor is
a. Accionreivindkatoria
c. Accion redhibitoria
d. lAccim paulhna :
b. Accbn subrogatoria
1 ,.,,.t
:r
55. A owe B P11,000 due on )uly 2, 2003. B owes A P6,000 due on July 3, 2003 and P4,fi)0 due on July 10, 2003. B owes
C P11,000 due on July 3, 2@3. On July 3, 2003 cannot pay C so B assigns to C her credit of P11,000 against A,
without the knowhdge of A. On July 10, 2003 C bies to collect from A the P11,000. How much can C cornpel A to pay?
a. Pl1,000
,c. P5,000
b.
P 9,000
(o
rtroo
56. Ihe conEact must bind both contracting parties, its validity or compliarrce cannot be left to the will of one of them, and
'r
c. Relativity of contract
d. Obligatoriness of contract
57. 8y this prirrciple, contracts take effect only upon the contractrng paftJes, their assigns or st Ccesso_ E in interest
Mutuality of contract
c. klativity of contrrct
d. Obligntoriness of contract
Freedom of contract
a.
b.
58. The statement "Confacts shall be obligatory in whatever ftom they have been entercd into
,--fio1their validity are present" refurs to
( a.)
Cnnsensual
l()r
'- r
c. Formal contractst' t t
r: , i,-,., d. Solemnaortaaatt " "
contract
a.
,6')
60. If the obliTauon of the debtor is "I will pay vou my debt after I have arrived from abroad." The obligation is
g-\
(b.
Valid
)void
'-'.r,'(
Y,'
,\
"'t',,'
(,r r,\,
cr{
'
1,,
1i1 .,
c. Voidable
d. Unenforceable
,,:.i1tlx
UCIIOOI Or ACCOUnEnGy
PaEe 6 of 19
61. When a third person assures the payment of the obligatron Uthoullthe knowledge of the debts but with Ule consent
of the creditor, there is
-a-\
b.
c. Subrogation
d. NovaUon
Delegacion
Expromison
b: ) Witha oeriod
indienr, .,,i
.I
a.
b
A 'iole the car of B. Later they entered into a contract whereby B would rrct prosecute A in consideration of
C,
i'i00,000.
rd
A stipulaton in a conf,act of lease whereby the landlord can go to couft to eject the tenant in case of failure of the
latier to pay the rent agreed upon. . / I ,1 .
; i{ '? ,:nd'l solidarily bcrund the-mselves to deliver to S a Honda motorcycle valud at P60,fi)0. The oblbatinn was not
h..5lleC ti'r'ouqh the fault of l. Thereupon, S filed an action in court against N and the cout awarded P72,000 to S
l;1i.sei'ling Ehe value of the motorcycle plus damages. Which of the following situatbn is valid?
:. if li pays S the P72,000, N can collect from R and J P24,000 each
l-' 5 ins to ccrlect P24,000 each from N, R and I to satisfy the court's award of P72,0@
refuse to pay the penatty because it should be charged against
f,.1
'cl
. if S strceeds in ollecting the P72,000 from N, N in htm can collect
i''l carr
necklessly caused
rriorc
i;
pcserper
B and pedetrian
C.
As a result
aquilana
criminal
a bus driver drivirg negligendy, killed his passenger B and @estrian C. As a result
B may pruceed against X's enployer and the source of liability is the crime committed by A or culpa criminal
B meiy proceed against X's empbye and the source of lhbility is the breach of contract of carriage or cupa
Ldntractual.
C rrray oroceed against X's employer and the source of liability is the crime committed by A or culpa criminal.
C rnay proceed against X's employer and the source of liability is the euasi{elkt committed by A or culpa aquiliana,
t. and 3
2,3 and 4
1
2.'
3,
4.
d.
(1
( o lr,2,3and4
2and4
.
r'tg,rr,3
3]_Il-ffitff"tr
d.
a.
/'h
Secondarily liable
(. aqT lmmediate
b.
partEs
Rernote parties
l,^r[u 9t
nubo^r6.1,.^
{ -t.
behveen
itt,
l,,rlr,' '.
'.-^,*,((
)
C.
c. Intervenirg parties
d. Subsequent parties
. MJr,(, (
r)r
False, false
c. Solidarily liable
d. Subsidiary liable
'Frimarily liable
^<'1r'[r',1'' - - rr''rrr':11-
a.
b.
-(
'\
to$ll
hb exclusive property
b her.
c. _Unenforceable
(fioid
\)
72. B, husband of A, in his capacity as head of $re family, sots a parapheral property in her name to C, witlrout A's conss11.
The contract of sale is
a. Resclssible
b, Voidable r. . ,.
G. pr*nror.oUtu
d.'Void
L999, at age i6.-A soE his land tur P4M payable at plM in 1999, p1M in 2000, p1M in 2001 and p1M in 2002. In
2C[4., A wants to annul the contract on the gmund of minority. will his mtion prosper?
No, A is allowed to ask for annulment of the contract
perfection of fl-re contract
(q9/
has 4 years counted frsn the time lle becornes
Irnent of ure conh?ct -) nc
r
-Yo,.l
!ir,,Ui,p+.
t
No, the accepEnce of the instalknent payments
,"
Yes, provided A was tfien acting in good faith when he sold
73.|n
,a,
c.
d.
on
o
amounted
r
(^,.t
f:.:\
r.{I
'lx;
t
-r"l'tt
2 '.ke Ft,'(r.:' 6t t
74. This contract is without effct unless ratified
c.
g. Marriage between first degree cousins
d.
,,//0.) Contraa of sale between two insane ptrsons
75.X, ofrered to sell to B 10O carbns of sardirres at a specified
a.
b.
\-'/
d.
,'6. M nmkes a negotiable pronrissory note for P10,000 with the name of the payable in blank. The note is stolen by P who
inserts his name as payee and then indorces the note to A, then A to B, and B b C, who is a holder in due course. On
7fi\urity, C cannot enfiorce the note against
Itl
t,l i)
\a-z
1/.
c. A
cJ.
to bearer. He delivers the note to B. B indorsed the note specially to C, then C negoti.ates the
clelivery to D. Which of the folbwinq is rut correct?
D .an enforce the rute agairst C.
c. D can enforce the rpte agEinst A.
O carr enforce the rrcte agairst B.
d. C can enfurce the note against 8.
,r,lte
,-\
fL )
L,'
l".y
/8
"r4
l+,2WZ
a.
or
Ar Pay Eo-The-or
rl.', Pay to I or o
Sd
80. The
/\
(.!,
a.
d.
81. This is
a.
qf .\
d p4Obk ,,^
/.{".;'tti fnrt ,.. I l^
ffiegotiable
rv,larl palCr)
bank. Sqd. A
82. FYe{y negotiable instruntent is presumed to have been issled for a valuable consideration. The presumption b
lacie - n5"tlt"$lrrlclis6rp+,.
Q,r)1nq
Dr- Conclusive
c. Absolute
d. Final
a.
b.
rtificate of deposit
lmoney
85.
It
contains an order
that do not
c. Certificate of stock
d. Warchouse receipt
-a.
(5-\rreasury warrant
dfssirns
to pay out of a particular fund rendering the instrument beyond the rope of the negoUabh
instsurnent law
Bill of lading
80.
eftct
/.9*-.^
/'-i'n^s\3\
rtt9
trlB5a.
lwlllw
wrwt
vl
a. It is not dated ,
b. Does not speciry the value given
c.
ffi
,gvsVVr
n9wgalEltv,
'9
a.
b.
c.
[D
83. A, krowirg that therc b no such person by the nanre of B, makes out and signs a promissory mte payable b B or order.
A deliveis the note b C. C in tum delivers the mte to D without indorsernent. Later, D delivers the rrcte b E, a hoher
in cue course, whkh of the fullowing is conect?
he note can be negothted by indorsement and dellvery.
frrornCbecar.sea person negothtirgan irrtrumentmerelybydelivery b liableonlybthe
t
A ge
1l) intt
\_,/
c E iecor,res holder only if D will indorse the instrurnent.
ii -Tte in:'itnlnlent is not-negotiable because it is payable to the order of a rpn-existing
person
BQ A nr;lkes a negotiable note b bearer and delivers it to B fior safe keeping. The note ls negothted by B to C. Can A
refuse to pay C on the ground that the note w6 originally delivered to B br a special purpose only?
.1. Yes, A can prove that he dellt/ered the hsfurnent b B ltOr a special purpGe
No, wherc the insUurnent is in the hands of any holder, a valid delivery thereof by all partie prior b him so a to
make tlem liable bo him is conclusively presumed.
Yes, berause B negotiated the note witfrout authority.
No, if C is a holder-in due course.
b
c.
A
\J
90. A made a negotiabh promissory note in faror of B who negotiated it to C under the followirp in6rsements. "Pay b C
after passing Ure CPA examinauon in October 1999". At maturity of the note, C presented it b A fur payment and it
was Culy pak1, C did not pass the CPA examination. Which of the followirg b conect.z
I-he promissory rnte is mt negouable because of the conditirn impmed.
The promissory note becornes rregothble because the conditbn was saUsfied.
A had rrc right to pay C and, therefure can compelled b pay again.
fo e rnay disregard the condition and make payment whether the condition is fulfilled or not.
a.
b.
1
\
9i.
\-
When dre instrument is cornplete but undelivered, delivery is presumed to have been made in favor of the holde, the
presumption ls
Conclusilre whether tplder in due course or fior value
Prima-facie whether holder in due course or for value
Conclusive if holder for value and prima facie if holder in due course
prma-facie if holder tor valrr and conc]usirre. If holder in due course
a.
b.
!.
[Z)
92. The indorser who simply si;ns his narne renders hinself li{,lqto all subsequent holders as
Primarily
(grlSeconOarily liable
a.
b.
Solidarily
liable
liable
d.
Subsidiirrily liabh
93. There b lcdiffererrce*petween a holder in due course and one who b not, since as regards thenr, real and personal
defunses may always be raised
Intervening parties
Remote pafties
a.
b.
if
c.
partie
r-d/ )mmediate
Subsequent
parties
a.
b.
c. Real defense
d. National defrense
30 days after B receives the proceeds of his loan from ABC bank. Sgd
is
Subject to a condition
Payable at a determinable future trme
_c.aPayable on dernand.
because the payrnent is indefinite
(/Non-neOotiable
except BtStDtr1.l
S L*
a.
stock
d
M
irg his term as director
,n
( c. M
ilppines
\,/ O
books of the corpor-ation
97. Which of the fullowing is the dlsadvantage of forming a @rporauon?
a. The free and ready transferability of ownership
b. The shareholdem are not liable for the debts of the business
c. Becarce of the powa of succession, the existence of ttre entity is not aftcted by the personal
(a.
sbcftholders to fiB wishes of Ule majority
subiect onf to equit&le
'\
,
,, t":,,r.t-, r,
vicissitudes of the
98 The drawee bank rnay not refuse b pay checK Orawn against it
c. If the drawer's depcits is insufnciert
a,.. If there is a "stop payment" issued by tlre
d. When the bank receives noUce of the drawer's death
O. ) tf tne diawer is
drawer
irsolvent
a
b
Fjt-st statqnent- If the surplm profits of the stod< corporation reaches the level eqtnl b its pakl-up capitai EE SEC
may conipel the corporation to declare dividends, otherurise it will be liable fur a suftax on improperly accurnulated
7A{)
surplus,
.?v.atfi stateneut - In a corporation, two or more positbns may be heH concunently by the same person except ttut
ili: on? peBon shall act as President and chairman of the Board
d. Uoth staternents are tn e
c. Only the first staternent b true
0l
d.
,'4:,. srtterlEf- The arrival of tfte tenn of a parhershp with a fixed term or period shall not dissolve the parhership
if ttr; .;..:;tners conUnue with the hriness of the parhership but sr.rch parhershtp maybe tenninated anytime dependent
, ' rar w,il of the cr:ntinuing partners.
.(,,1,! .statefiwif - A partnership with a capital of P3,000 or more to mmey or prcperty, must be in a public
i,-U'ir'nt and registered with the SEC in order for the parmership b be able to maintain an action, in ib own name
-;':'.:s|. third party
.r r Both statemenB are true
c. Only the first staternent b Uue
d.
2, afts 1 '/ears of operation, ABC, a donrestic corp. wanted to declare dividends b its stockholders. The Eeasur,er
rcpoited a riet incorre after tax of P4 million. One million is being appropriated br the acquisition of the machineries to
L'.: Dought 2 rncnths fiom rnw. The treasurer llkewise reported an increase in the value of the lancl prevlously bought
io ix' tJsed as plant site tum 3 million to 5 million. What arnount of dividend can be declared by the board?
.l
9 m,ilion
c-.4 million
8 mrllicn
L
.\- d. B million
r0-'l When ttre goods are delivered to the buyer m "qgle SLIQtrln" tor a period of seven days, ownershp of he qoods
passes to the buyer,
l,-,1,-:
Ue 11t^(r,
F--. To subordinate his interest in favor of hb principal if there is a conflict of interest
.c. .)To borrow if he is autfprized to lerd
V./ t'lot to carry out the agency, even if that is the instrr.rction of tfe principal, if he knew it would result is a loss or
a.
(6)
-c.
(1 ***
a.
b.
itw1Eg
to be
valid.
A ta)eayer is not entitled b interest on the overpayment of tax subject of a refund because an obligation derived from
law is nqfpresumec!.-"./ ?Q<1r,r,'e q-i,v,1 h'tat
{,.1r (-rfl,rl
a.
Both statenrents are
fint is false, second is true.
b. Both are false.
&/Second is false, first b true
true.
109. D is indebited to
diamond ring
a.
A
(S. )
d'
From
From
From
From
the
the
the
the
(..
P2fi),fi)O and delivers to c his diarnond ring by way of pbdge. If D sells the same
when willT mquire ownership of the sarne?
fi..lclc - hr',,rnk t:l r r""tr{w
C in the amount of
/l.u$, ,''r'
r.r\l
.
-t.r. ll
..- ;rtl
110
A
'( )
d.
Within
Within
Within
\ iithin
Which of these
( or'
\5.
c.
d.
t@Aspecbl
Application of payment
pago
/'
( .r- -'
'r':
d
1
torm of payment?
gri.'i \,
i' .
Dmion en
Cesslon en pago ,
Tender of paymeilt and conslgnation
I i 2. The votrng_F!!!.!l.-g!nt
Page 10 of 19
A buyer may sue the seller fur breach of warranty agairrt hidden deEcts of thirqs
(b.
tlL.
Accountancy
tl''t
(I
,,.
hit{
hec-tare
D br:rl1owd from C P 1,000,000 to secure the payment of which the furmer verbally agreed to ,@liver
aqricultural land by way of antichresis and to pay t2o/o interest per annum. The contract of loan {oO an^.i.-hres}
a
b
G:
Ya
r..-[ w.,loy,
rokl
j 14, S arnl B agr--ed on the sats of a four hectare foperty at Macapagal Eoulevard br the pice of P15,000 per square
meter cn conditron that if the pke is not paid on a particular date, the sale will considered autornatically cancelled. On
tire particular date agreed upon, B did not pay S, b,ut B never asked for a judhial cancelhtion nor made a notarbl act
of recission. In this case-
a.
h
. t.-r
V.'
a.
b.
A
116.A, B, and C executed a promissory note in favor of D, E, and F in the amount of P9,000.00. Can the creditors prcceed
against A for the payment of the entire loan?
No, each creditor can only collect P3,fi)0 from A.
. a.
' b^ Yes,
(c.
'd. )no,
A.
tfre
debtrs.
YeS,
117.In the preceding problem, suppose C is insolvent, can B and A be held liabte for hb share in the obl[ation?
Yes, because the obligation is presumed to be joint and several.
Yes. but A and B shall be
ruo,'Oecause of their
bts are distinct from one another.
No, because only either
the share of C.
a.
b.
6},
-iI:
iilnt
o
118.Still in the preceding problem, suppose the obl(Tation is mixed solidarity can one of the oeditors demand payment of
the wtrcle debt foom anyone of the debtors?
parate from one another.
No,
Ab. Yes,
bligation.
/
( Yes,
I of the debtors.
d. No, because despite solidarity, a debbr b liable only for his share.
19.
a.
b.
9*
ej
120.Under the Negotiable InsUumenb Law, !o be hober in due course, a person must have acquired the insbunnnt before
it is overdue. Does thb apply to the payee to whom the maker issued an overdue
note?
zf,:>.
a. Yes, because the payee is still considered a lrolder urrder the law.
b. No, because issuance to the payee is not considered a holder under the hw.
c._ Yes, because the law does not distinguished between payee and subsequent holder.
d. No, because the payee is privy to the contract between himself ard the maker.
l,21
When one of the parties has brought an action to enficrce the contract he cannot subsequently ask fur iE refornntion.
The injured party may seek rescission even after he has chosen the fulfillment of the obligation if the latter should
tsecome impossible.
b. T'rue, false
c.
d.
False, fabe
False, true
,?2 the credito{has realright tg the fruits of the ttting from the time they have been delivsed.
rhe brryer acqurres rJ"ir'Sl'iXlirtJ'iil,[.r uie rhins rro* tn.rffitio]or the
t:,re, true
c. Felrc;ffi6
(r,'.1rrue, rabe
.;
"'
sare.
d. False,
\_/
false
, r-! t:) a natLral obligation, the creditor has the right to enfurce the performance thereof itbeing based on positive law.
I'Uir:il,-r indebiti and negotiorum4estio are quasi-conl.racts that give rise to civil obligations.
o.
c.
gfafe'frue
rs
FalseTrue
fulse
d.
rirlL' k'lt
qq &iggibb-
Eue
True,
is
valid
void.
---T
f1,hrue, true
([l[ar.,
rr"
\,,
false
.'
True, false
agreement
true
yz
True, false
d.
True, false
\J
I 2ti A corrtract
r:f partnership where immovables are contributed must be in public irstrument to be valid.
i..
c. False,
false
a,
false
ralse,
fficonfacts
ralse
False,
tnrc
mly between the parties but also thelr heirs and assigns.
, c.
a.
tr.)True,
False,
true
True, false
d.
True, false
is no deficierrcy liability.
true
c. False, true
is@, \L l0fr6Lt ,t
1T)True,
d.
,V
true
False
In
partners.
a.
*i-**r*resented
b. frue, true
False, hlse
'.1,.1'
'I
themselves as furming
G.)r",.,
d. True, talse
oru
131.If the obltgation is solidary, it means there is mutual guaranty arnong the debtors and therefiore the insolvency of one is
shouldered by the others.
Solidarity may exist alttmugh th_ey'eptors may not be Lround by the same term, condition and manner of performance.
False,
c. True,
d. False, true
(b. True,
false
a.
tn-re
false
132.In dation in paymen! the creditYLcomes the owner of the property ceded
as
In payment by cession, the creditors do not beccrne the owners but are authorized to sell firc properties mspned to
them.
false
true
133.In tender of payment and consignation, tne(efusatTwit
debtor will extingulsh the oblklation. {
- -f-t, C
The third person who paid the obligation without the k
reimbursement from the debtor to the extent of the iatter'g.tenefrt.
a. False, hlse
b True, true
1c. False, u-ue
a.
False,
b.
d.
False,
134-Acorporatoncanbeastockholderbutnotanincorporator
True, false
d.
(0c[rr,[trrc,
True,
False
To be a de jure corporation, it must be existing in law and in fact unlike a de facto one which exists in fact but not in
lav\
;, a, |rue, true
it
b.
False,
hlse
False,
fue
d.
True, false
135.It is indispensable for quasi-delict to exist that there is no pe-existing contractual relation between the parties.
.:lfiq unpaid seller cannot recover the thing sold from an innocent purchaser for value.
b.
*tte
False, false
c.
d. False, true
True, false
C,"'*"
136.Wridr of the following- is not an essential ehment of an obligetbn?
(. c-rlnesentation PR$fffifi..l
a. obligor
b.
l-i7.It
rs
Effrcient
cause
iI.
c.
d.
obligation
Cvltobliqation
[bJ
a.
'
-l:i
;';
Creditor
-r l-aur
h.
Contacts
c. Delicts
,tdtparrry
e. Quasi-conbffib,
; ;i; (.i:,lrqarroirs clerived frorn law are presumed except those found in the Civil Cdie or n special lavls.
Oi'ii:natior'rs arising itom coniracts have the force of law between the contracting parties and should be complied with in
lcrr
a
I
faith
"r^. -. rs
rrn-ipai
kid
is fabe.
;-r
iorutb
indebih
b.
Negotiorum
lrl
ir1
quasi-contract there is rlo cmsent of the parties thus preventing a meeting of minds between them.
Irr quasi-delict here is not intentbn on the part of a person doing a wrongful act or omission causing damage to
.:tl.lthef
(c
ii;,,h{F rs the kirid of dihqelrce that tr obligor must obserye in the performance of his obligation to give something:
( a _z D'kgence of a gmd father of a family.
tD1
F.xtraordinary diligence of a good father of a farnily.
Diligence of a fatler of a qocd family
,1. Diligeirce oi'a gmd fiather of a family even if the law or the stipuhtbn requires another standard of care.
(-.
-ii,r,
f;.'lits cf the thing shall pertain to the crcditor trom the time they $pqd:@yg Dgsqdeliveg(_!o him, ttnt is, he has
persrnal riElrt to demand cNelivery of tlte fruits existing after the obli7atbri tro deliver the pincipal thing arises.
a. Both statemen6 are
fc.'first is fialse, scmd is true.
'd. First b fue, semnd is fabe.
Eoth are
b.
true.
lal*-,
145.In the obligetlon to deliver a thing, the debtor lns to deliver also the accessories and accessions if they have been
mentioned.
In obltgabon to do, sperific perfurmarrce of the debbrs obl(Tation is not available as a right of the creditor to denrand
rffom the obligor.
/ a. / First staternent 6 fabe, second is trr.re.
c. Both are fabe.
(first is tnrc, second is false.
d. Both arc true.
P/
146.Which if the tullowing is demand necessary to nuke the debtor in chlay in tfre performance of his obl(ption?
When the Ume of performarrce is of the essence; c. When tlrc law so provkles;
Whm the time of perfunnarrce ha been stipulated; d. When demand would be useless.
a.
l47)t/lability fioe damages in ttre performance of an obligation arises Irorn the following, o(cept:
a. Negligerce
c. Dehy
fb. , Aatr or ornissirrs punistred by law.
d. Fraud
lzl8.Liability fro dannges arising ftom fraud is demandable and there can be a waiver of an action fur past fraud.
There can be waivr of an action for future neglQerrce but not ftaud.
Both statements are false.
c. First staternent is Eue, second is false.
Bodr are true.
d. Second is Eue, first is false.
a.
fi,
149.A obliged hirnself m delirrer the cars of powdered milk of B from Pangasinan to Marrila. Whih his brck was traveling on
the North expressway, it was hi-lacked by a band of robbers who also took ttle cans of milk belonging to B. Is A iiable
for the loss of the goods?
No, because they were generic things and as they cannot be lost.
Yes, bcause he was in possessaon of the same at the time of the loss and therefore presumed at fault.
Yes, because thse was no stipuhtbn exempting him from loss in case of fortuitous event.
1t1. No, because the loss was due to futtuitous evert.
a,
b.
9.
,f\
ii'n"s,rYl
Page 13 of 19
150.In whkh of the l'ollowing is tfrc debtor still liable despite ttrc ficrtuitons event causing the loss of the thing?
The thing lost is a specifr thing.
The performarrce of the obligaticn has becorne impossible.
The nature of the obligation does rrct require tte msumption of risk.
(0. , wnen tfre hw or the obligatinn expressly so provides.
a.
b.
.a
'l
is
is
pakt. l(.t
,!
tt I
i52 jrr the preceoing case, suppose the rcceipt does not mention the payment of the interest it
a.
t:.t-r
Yl.
paid.
',: I trr t)l rrr the fuliowing are the rights of the credibr
paid.
I't '
,..1,''
''
is:
' ','i-
'l
154. Riqnts acquired in viftue of obligations are;!p4.91[qgrble only if so sUpulated by the partbs.
Ihe law of the stipulation of the parties to an obligation may provide tfnt the rights acquired by virhre thereof are not
rronsmssible.
First statement is ialse, second is bue
Secr-rnd is false, first is true
a
f.
t55. D borrowrd a sum of rnney from C prornising to pay after tfie anival of the vessel "Baliktaran" from Cebu. The
faihd tc arrive due to some brtuibr.rs event and witfrout ttre lault of D. D's oblpatbn b pay is subject to a:
a.
L'
..
,r
(d.
vessel
Suspensive condition and therefore mt dernandable since tfte vessel did not arrive.
iiot 3 condtion nor a period butrather ispute ebllgatbmiaCthe?efot is dema.'rdable at once.
Resolutory conditron and therefrcre extingushed upon the failure of the vessel to arrive.
Perirxl whkh the @(rt may fu.
156 Iinpossible, unlawful, immoral conditions are not valid and mt dernardable except the oblipuots whkh depend tpon
then:
\-
'., r
,ti{icr,
,, . C\D,
Cb\,..fi,._
..,
vrlt)
a.
b.
false.
0ue.
157. D bound ltimself to deliver either specific object 1 or object 2 to C. If one of ffre objects is lost due to fortuitous event
and without the fault of D, tle effect is:
F^, D may still choose which he shall deliver, only the value of the thing lct if he chooses tlrc same.
D canmt ctt@se because arnorE the prestatbns whereby he is atternative| bourd, only one is practicable.
.
C rnay choose which of the obpcts he wants delivered.
Obligatbn of D has been extinguished.
b.
'Y
d.
158. In facultaUve obl(7ation, only one prestation is due but the creditor may be given $rc right of choice as
prestaln-m-Oe;rerformen.
6rre
"I pronise b
pay
a.
b.
false
I.UO
159' A, B and C borrowed P3M frorn D, E and F eviderrced by a prcmissory note worded as follows, to wit:
D, E and F P3M, (Sgd) A, I and C "How much can D collect ftom A?
P3M
c. Pl,5M
P.5M
eru
a.
b.
160. In tfrc peceding case, suppose only D b demanding payment, can A still pay any one of the creditors?
No, because the law provides that payment shall be made to the creditor &manding paynrent.
a.
b.
No, but in case payment is made b a creditor not demanding payment, only his share of ttre credit shall be
extingubhed.
Yes, because payment can be made to any of the solidary credibrs.
-C^,
d.
i 1 Yes, because payment proportionately can be made to any of the joint creditors of his sharc.
\_,'
161. A, B and C bound thensetvs to deliver to X a specifrc car worth P3M. Due to the fault of A, tlre car was
case:
lct. In [tis
x{':\
a.
b.
c.
(l
X can claim damages ftorn any one of the three for his propoftionate part of lhbihty because the obligation
is
indivisible.
X clairn only fiom A the whole amount of damages other than the value of the car.
e from any of the three.
Since it is solidary
eir respective shares in the oblilation,
Onty A is liabts tur
liabilities
darnages
162.Yi obligation with penal clause,
As a rule, the creditor may demand the payment of ttrc penalty, damages and interest in case of non-performance of
Re obligation.
h.)
Dt:'
153
D owes; C P1f'4. X, without the knowledge or against tfie will of D paid C P2M. Can X get reimburcernent frorn D?
to pwent unjust enridrment on the part of D at the epense of X,
,.A P
\h I P
Y lt
.r1
fitoFD.
rtt was not proper being without the knowle@e or against Ute willof D.
F1M plus interest from the tirne of payment until reimbursement.
e is
with the obligation to reimburse the third person insofar as the payment has been benefrcbl to
it-':i,':l'ur.
'r r 'egoil subrogation and therebre in case the debtor ftils to reimburse the third person, the latter may go after
' r .. tgage, guaranty or PenaltY'
,'ottr zrr faise staternents.
c. Flrst ls false, second ls true.
lrth are kue.
(el ffst b Uue, se@nd is fabe.
I55. I'ayment made to a ftird person
c.
)'o{;
a
1,.
is valid to extinguish theb5ligation of the debtor to the creditor in the following cases,
payrnent b the creditor, ttre third person acqiis the aedito/s right
r the creditor ratifies the payment to the third person;
'v,hen tlrrough the creditort conduct the debtor was led to belbve that the third person had authority to receive
;-. tyfnent:
When ttx: third person is subrogated to the righbs of the creditor.
167 In applicaUon of payment, the creditor as a rub shall decirh on what debt shall the payment be applied.
If the period is ficr the benefit of the debtor he can apply peqayrnent on a debt although not yet due.
t.c. first is false, secmd is true.
a. Eoth statements are hlse.
y'n tender of payment and corsignation, the terder of payment by itself shall not extinguish the obl!7ation.
)f
a.
b.
First is fatse,
srond
is
true.
c.
true.
Qfi6e
a.
b. Consent of the aontracting parties.
,611 Motiveof theprties. X't,c.l rc+vicJt
Ya Object certain which is the subject m*ter of the conuact.
172. S offered hh car to B fur P1M and giving the laEer one week to decide. B in turn gave S p1,000.00. In this casg tfrere
ts:
.a^ Contract of
(b. iConbactof
t:
d.
Contract to
conuact
z6'lX
/.% .^'A
173. A advertised in the newspaper his parcel of land wanting to sell the same tur PlM. B personally went to the turrner
with cash in hard to buy the subject parcel of land. In this case:
.4^ A cannot anymore relect B as buyer of his land;
:;
ci
I as an offerer in the purchase or his tard; ' ' ,(11' t r'"
;
A can reject the offer of I unless he propelly consigrs with the court his payhbnt fur the land;
A cannot evade his obligation as seller to B.
;; ;iiti;;ilt
6)
Y
d.
'
a.
b.
c.
l)
-ihe
i i5.
:-
Insane persons
Demented
prino.s who represent themselvs as of legal age to one in good faith.
colrtract entered into by the persons who cannot give cons,ent is:
\4
Y'
'D-'
is essential is:
./ordubl"
/.: ) void
D Voidabie
/9
c. Voidable
d. Rescissible
'lcld
linenfcrceable
c. Unenforceable
d. Voirj
c. Rescissibh
d. Unenfuireable
A def-ective contJaci because it is entered into rn the name of another withotjt or in excess of authority, or it b verbal
c
d.
r
Void
Rescissible
d0. T.re toltowing even if rrot in puhlic instrurnent are yalid, tindiogr^andenforceable, orcepL
Negotiableinstnrments
Sale of land, either by the owner or agent witi writteri authority
Agenol, pledge, rnortgage
( tl. 'Partnership contract whgein immovables are contributed
a.
b.
1;
fgf)in
refonnation of instruments, it is necessary that there is rneeting of minG of the parties to the confac! otherwbe,
annulment of conlract shall be the remedy if fraud, accklent mistake or inequitable conduct prevented the nreeting of
minds.
In the interpretation of contracB, doubts on the incr,lental circunstance of onerous contracts shall be resolved in favor
/9\greatest reciprocity of inferest and if gratuitfls, least b-ansrnissbn of rights and interest.
\U
b.
false.
true.
182. A sold to be his dog witi the agreefiient that delivery shall be after ore week ftom sale and the payment of the prke
two weeks from
hall belong to:
(,: ,l if produced befure Bre
If the puppy shall
still to the seller;
The ftuib ttpt shall exist after delivery witl only be the ones to pertain to the buyer.
The fruits after tire sale but before delivery shall pertain to the buyer if so stipuhted by the parties to the sale.
lfii,
-E
c.
d.
delive
exist
The sale of a mere hope or expectancy is deemecl subject to the conditbn that the tlring will come into existence.
Both staternents are
First is true, second is false.
Both are true.
a.
b.
false.
c.
184. A sold 8's car in his (A's) name to C without any authori
Rescissible b.
Void
a.
Voidabb c.
185. A sold B's car in the nanre of B without authority to C. The sale is:
a. Rescissible
b. Voidable zd)Unenlicrceable d.
t-/
186. A sold 8's car with authority fo sell but sold it in his (A's)
a. Rescbsible
b. Voiclable c.
Voici
Unenforceable d. Void
rs:
a. Rescissible b. Voidable
cl. Void
.)Unenforceable
i8B. A, .rs agent oi P with oral authq!:lty, sold P's land in a public insfurnent. The sale is:
has
d. , Void
principal, the agent sold verbally the land of the principal. The sale is:
d. Voil
1',ia V/i'(nout aut?rcrity from 8, A sold the folAet's lard in B's nanre. The sale b:
:i. R.escissible
,'
b. Voidabh
1'
t.irUlcrtt authority fron 8, A sold the ftr1ner's house in 8's name. The sale is:
-: Rescissible
Ill.? A
b. Voidable
/-E\Unentorceabh d. Void
,,1
Ci.'l
d.
is:
(: r'"
Void
*.scissrirle
b.
,'
l9*.
i fr.'9l,,,,rt,ir ,{".Ln, l
S,-'rld to B ttrs ianC on January 10, 2001. On ianuary 15, an absolutg.9s9.(g!-=Le was executed dnd rntarized. On
.)ar ruary 2(1, tne sale was registered with the Registry of Deeds. On January 25l I took actual possession of the land by
buikling a funce thereon. When did I rquire ownership of the land?
On January 10
On January 20
(r.
G.'
tOn
Januay
c.
d.
15
On January 25
fgiy'sofa to I
his car on January 10, 2001 On January 15, arr absolute deed of sale was executed and notarized. On
J(:nuary 20, the sale was registered with the LTO. On January 25, IEdfacabl}ssession of the car. When did B
acquire title to the car?
On January 20
_-i1On January 10
January
15
On January 25
Pn
c.
d.
(,
i9gr:
( a.
b
r
,i.
S rnay
cieliver the same one weck after the sale on January 10, 2001. In this case:
danaM within reasonable time ftom the sale the payment of the price frorn
B.
S can dernand
i)rlCe.
Payment and derirrery shall take place only after one week frorn sale.
197. S soid to B his car with the agreanent that be will pay the prke one week after the sale on January 10, 2001. In this
\/aa*.:
a. B may demand witnin redsonable trne ftryn the sab the delirlery of the car.
b. I may dernand delivery only after trc has paid the price.
c. S may seek payment of tlrc price once he deliverc the car.
d. PaymenB arrl delivery shall take place only after one vueek from sale.
jrqoH hs car to 8. No aqreemet was ma& on the time and place of delivery and payment. Henqe:
(a,- t The time and place of delivery shall be at the urne and place of payrnent of the price. SftBft { \.uorf
tr: The time and place of delivery ard paynent not having been agreed upon, the sab shall bb void. '
c. The seller may dernand payment first before delivry of the thing sold.
d. The buyer may dernand delivery first before payment of the prke.
198.
wttrr{
iirf
199. The seller must be the owner of tlte pmperty he sells but hs ownership neerl not ex6t on perfiection but upon delivery
of the thlng.
A contract of sale may be absolute; conditional, either suspensive or resolutory; or subject to a contingency; or
undivided interest in property, either present or tuture except future inheritance.
\-z-,
200.'A sold his car for the prlce of F2M to B who shall pay P.5M and deliver to S his land
There is:
a.
b.
c. Innorninate contract
201. S delivers to B his car valued at P2M in consideration or a\tradsfrrring to S his land worth p1M and the anount of plM
There is:
Bafter
Innominate contract
sate
Paftly sale and paftly barter
'
a.
(h
c.
d.
202. B ordered from S a pair of shoes of the kind and styh of which S has gone out of
Contract for a piece of
Contract of agerry.
Contract of hase of
Conbact of sale.
a,
b.
work.
service.
c.
fl\
\_
stock. There b:
,z(
i,-\
.-i:',\
f^, 'n"sn\,:\
ft{rtn1
203. S scld to B his land vaiuerJ at P1M only for the price of P,7M, thus resulting to inadequate
pice.
c. Unenforceable=-:-::=:--_=-_r{. \atia
a. Rescissible
tr. \toidable
204. S r;ffered his lanrl to B rarith the understanding that theHer shall lx the price. B, as agreed upon fixed the price at
P.1M, althouqh the lancl's market value was P1.5M. It is clear, therefore, that S is to benefit fiom the transmtion. Was
ed sale as there was no consent on the price.
perfected sale, fixed by buyer and accepted by the seller.
''heres
valid sale since the buyer uras authorize.d to fix the pice.
Void,rille sale at the optbn of the buyer due to mistake in the fixing of the price.
rl.
2Ci
a
b,
(,c
d.
.'0c in ';ate or return", the buyer becomes owner of l.he thing upon
af irr acrorcval, express or implied,
':..
fial or satisfaction",
1, b:t'ween husband and wife is void, unless there is separation of property between them in the same way that
partnership between them is also void
..t\t.|sei
r-,
; I
s:'id to B nis dog without knowledge that the animal was suffering from a disease at the time of the sale. Is the
celhr liabE tur breach of warranty against redhibitory defect of animals?
a. No, hrause the seller was in g6d faith when he sold the animals.
t)
\'er, if he were
*- No, be;au- anirnals unlike things easily can contact sonre illness.
(,') Y and good faitfr rs not a deEnse to avo,d liability.
scli :o ii
"5)
'r
'{-
..)
.r ttling without krrcwledge that the thirg suffered from a hidden defect. The parties agreed on the waiver
seller still liable for breach of warranty?
.j llrl-sscauseoflfiaval
t
rt
'/-r:;, l-.recause
against eviction,
210. B bought from S a second hand motor vehicle whrch upon inspection by B had sonre mechanical troubles. After the
sale, the car broke down due to engine houble requiring an overhaul of the engine. Is S liable for breach of warranty
,aqqinst hidden defect?
ar/ No, because the defect was not hklden bui apparent upon irspection by
Yes, because there was no waiver of wananty agatnst hidden defect.
Yes, because the seller was in bad faith.
No, because it was the Fault of the brryer in buying a used car.
.,
Y.
c.
d.
,\-t(
")
c.
d.
fn"
eqgita!!el9!gg9e,
212. S sold to B a car on installment wherein the latter mortgaged the same car as security for the price. Failing b pay the
insballments, the mortgage on the car was foreclosed. ts B still liable for arry deficiency if the seller faib to recover in the
foreclosure sale?
Yes, because it is only in case of pledge is the debtor not liable for any deFrciency.
Yes, if so stipulated upon by the parties.
parties.
a.
b.
6on
2l
tfie ccntrary.
ty for a loan. Failing in the payment cf tlre loan, C foreclosed the chattel nmrtgage
and sold ttp car at public auction. In case of deficbncy, is D liable fior it?
a.. Yes, in the absence of contrary stiprlation.
No, because it would be unjust enrkhment on the part of creditor.
Yes, if so agreed upon by the parties.
b.
c.
d.
214. Based on the preceding case, suppose it was a pledge. woukl tlrc debtor/pledqor be liable firr the deficiency?
No, notwithstanding stipulation to the contrary
c. Yes, if so agreed upon.
/.-::
a.
" a\
/'--'R"sA'1\
stipulated.
Page 18 of 19
d.
215. D mortgaged his parcel of land to C as smtrity for a loarr Fearilq foreclosure of the mongage due to his inability to
pay the loan, D sold the land to X witlput the consent of C. Is the sale valid?
Nc, unless there was prior con-nt of the rnortgage,
\_[,, Yes, stipulation prohibiting the sale without the consent of the lnortgagee shall be roid.
Yes, provided the modgagee was rctified befiore the sab.
No, if there was stipulation requiring prior consent.
,*
c.
d.
215. A, B, C are co-owners of a parcel of land. A sold his share to B. Can C redeem the said share from B?
No, unless he was noUfied of ffte sale prior to its perfection.
No, legal redemption applies only if the interest was alienated by oneous Ufle to a third person.
Ym, because the law ftowns upon co-ownership.
Y'es, pl'ovided he pays b the pice, experses of the sale and necessary and r.seful expenses on the thing sold.
-\
Y.
,J
i'l i ,r and B are co-owneru of a parcel land. A donated his share to c. Can B redeern the said share ftom C?
,^ Yes, br:cause the law looks with dbfavor at co-ownership.
i t'- i'tc, b(rause legal rede'nption applies only in case of onerous alienation.
i ,r rrnies; he enficrced his right through court action.
! i'es, but rn polrcrtion to his interest in the land as co-owner.
1o i) ;*q.
if tfrc
I,
e.
i,
'. ,
.;.
It is a means of fulfilling
br a comfinn
If hvo or rnore agents appointed by a single principal are jointly iiabh unless solidarity
a.
}.
Both are
true.
false.
ls
stiplated.
,:2i
P auctrurtzed A to sell his products with 10o/o cornmbsion and 5olo guarantee cornmissbn. A sold them
ttrqaV despite the diligent efforLs of a in collecting. Is A still liable for the purchase prke?
,-a. /, Yes, because of the guarantee cornmission given to hm.
No, because he was not at fuult in the collection.
No, if he returns the guarantee commissirn.
Yes, and he is not entitled arryrrore to the commissbns.
b who failed
b.
c.
d.
a.
b.
223. P appointed A and B as his agents for a cornmon transaction and they agreed that the latter shall be solidarily llable to
the former for damages in case of vblations of their oblklations as srch. When is the agent at fault the only one liable
for damages ryen if solidarity has been stipulated?
If the other agent is not at Fault.
Both of thern shall be liable always sirrce solidari$ was agreed upon.
If
,e-. the one at fault shall answer fur all the dannges,
' d. ) If the one at f;ault acted in excess of authority.
a.
b.
224. A\ B, and C entered into an oral contract of partrrcrship each conbibutirq P1M each to the common fund plus other
personal properties of the sanre amount and fiailed to reqister the partnership with the SEC, Is the partnership valid?
No, because every conkact of partnership having a capital of three thousand pesos or more in rnoney or property
- must be in public instrument and registered with the SEC.
by' Yes., because public instrumot is necessary only in case of conbibutions of immorrables.
Yes, because a partrrership aontract can always be oral.
No, because regbtration with the SEC is essential tor a partnership to be valid and acquire juriclkal personality.
a.
.
t.
d.
Page 19 of 19
225. P authorized A, a minor, to sell his car for P1M in cash. A sold the said car to X on installments at a lesser price of
P,9M. P is now repuliating the contract with X on the ground mat he is rnt bound since X contmcted with a minor wtto
.gxceedecj h,s authority. Decide.
(. a.1 P is liable urder the contract because it is enough that the principal is capacitated since he is the one entering inb
the contract.
P is not liable for the sale on installments since it is unenforceable because his agent acted beyond his powers.
P is not liable hecause the agent is a minor with whom X contracted.
P is liable provided the sab is in cash fur P1M.
\b.
c.
d.
it.5.
P.trtners A, B, and C contributed: A-PIM; B-P2M; and C-service. After et'raustirp the partnership assets, the creditors
.;'.ill have a t.lairn for P.3M. For how much arc the partners liable to the credibrs for the paftnership liability?
i)rrly A and B are liatrle equally to the creditors being capitalists.
'Jnly A crnd B are liable at '/3 aml'/3, respectively.
:-.) ltl ot A, B, and C are lhble pro rata b the oedibrs.
-, is not liabie heing an industrial partner who is exenpt frorn losses.
r
l-
I'
'i
. '
ir drri B arc co-owners of a parcel of lancl from which they derive profits in equal sharing being co-heirs in inhedtance.
t; trem a ;xrtnership?
,-,
['hr-it
:s
.'ihertr is no partnaship because co-ownership by iEelf does not establish a partnemhip &spite the sharing of
,
i
.:,':l
r
iro:'iis.
Itrer-t: is nc partrrership sirrce in parhership divlsbn of profits is not alwa),s necess.rry anong partners.
.[l',i-re
i:;
A .r,r,j C are partrrers in Ace partnership. While a was performing his dutk= as a partrer in the conduct of tfie business,
'': r.:e4ligeni!y caused damage b X, a third person. Who shall be liable to X and in what capacity?
Only the partnership shall be liable it being a juridical person separate ard distinct fiom the partners.
Only A shall be liable for he is the only one at fault.
Both A and B shall be liable soliclarily b X.
\ A, B, and tfre Partrrership are atl liabh solklanly b X.
:
'r
t
,).
F-
(9
I.Iil.
'tlllist-h
a
:'
cl
**EflD***
G'st.
Ctrf.
-) /(t
t'1r'
'.
,1,
l,-f
f!t'tt'i