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ANSWER: D ANSWER: B
2. Contracts which cannot be sued upon unless ratified, 6. "A sells to B his lot and house in the city if A decides to
thus it is as if they have no effect yet are: transfer and live in the countryside" is an example of:
ANSWER: D ANSWER: B
3. If the obligation of the debtor is "I will pay you my debt 7. It is a mode of extinguishing an obligation when two
after I have arrived from abroad," this is persons in their own right are creditors of each other.
a. Unenforceable a. Confusion
b. With a Period b. Reformation
c. Void c. Compensation
d. Conditional d. Novation
ANSWER: D ANSWER: C
4. When the characters of the creditor and the debtor are 8. A contract is in the stage of conception when:
merged in one and the same person, there is
extinguishment of the obligation by: a. There is meeting of the minds.
b. Negotiations are in progress.
a. Compensation c. The parties come to an agreement.
b. Merger of Rights d. The contract is perfected.
c. Novation
d. Remission ANSWER: B
ANSWER: B
9. If the obligor binds himself to perform his obligation as
soon as "he shall have obtained a loan" from a certain a. Marriage between first degree cousins
bank, this obligation is: b. Contract of sale between two insane persons
c. Contract of sale between husband and wife
a. With a Term d. Donation between husband and wife
b. Conditional
c. Suspensive ANSWER: B
d. Resolutory
ANSWER: B
12. Which of the following statements is false?
ANSWER: A
13. This contract is without effect unless ratified:
17. An instrument may be reformed d
ANSWER: B
a. Simple donations inter vivos wherein no condition is
imposed Question: Why is it important that obligation in
b. Wills contractsbe faithfully fulfiiled??
c. When the instrument does not express the true
Answer: Laws are enacted to have order (or require the
intention of the parties due to mistake
performance of a particular action to achieve the same)
d. When the real agreement is void Since the terms and conditions of a contract are
considered the governing laws between parties, it is
ANSWER: C necessary to faithfully fulfill one's obligation, that is, to
avoid the occurrence of dispute. Hence, why do we
have to fulfill our obligations, that is to achieving order
between the parties to the contract.
18. Three of the following contracts are void. Which one is
not? Question: How do you apply the laws on obligations and
contracts to everyday activities and business dealings?
a. Oral contract of partnership of three partners and
capital contribution is more than P3,000 in cash Answer: We apply laws on obligations and contracts
unconsciously to our daily activities. One will not notice
b. Written contract contemplating impossible services
that in performing a simple common task you have
c. Oral contract of partnership where real estate is applied several principles on obligations and contracts.
contributed as capital Like, for example, buying a piece of pandesal, the buyer
d. Agent's authority to sell land is given orally. will offer to buy and the seller will accept. At this point,
once the seller and buyer agrees to the object and price,
and their minds have met; each of them will not just
ANSWER: A
rescind or refuse to comply. Even without knowledge of
law, one will not just back out from the perfected sale.
19. When a third person assumes the payment of the Then, after the perfection of the contract of sell;
obligation even without the knowledge and consent of unknowingly, they will go on to consummate the same.
the debtor but with the consent of the creditor The buyer will hand the money and the seller, in return,
will hand over the pandesal. A clear example of
reciprocal obligations, isn't?
a. There is novation
b. There is delegation if debtor is released If the money given is more than the price of the
c. There is subrogation pandesal, the seller will give the change. That is because
d. There is expromission if debtor is released he knows no one should be enriched at the expense of
another; hence, he has the obligation to return what is
not due him. Likewise, if what was delivered to the buyer
ANSWER: D
is more than what he paid for, he will return the same
under the same principle, creating an implied obligation
to return.
20. Which of the following is not an element of legal
compensation? In a simple, but very common, transaction, the parties are
not aware that they are applying the basic principles of
law on obligations and contracts. They might not be well
a. Debts to be compensated are due and demandable versed, or even, have not had any formal education, yet
b. There is controversy or adverse claim over any debts to they apply these simple principles of law unconsciously.
be compensated Thus, If you ask: how we apply laws on obligations and
c. There are two or more debts of the same kind contracts on our daily activities, we apply it unknowingly,
but instinctively, depending on one's value.
d. There are two or more persons who are creditor or
debtors of each other.