BL-2 Midterm Exam
4. Characteristic of a contract of partnership
1. As a general rule, partners are not
where its existence or validity does not
obliged to contribute equal shares to the
depend on some other contract. *
a. Preparatory
b. Nominate
c. Onerous
d. Principal
capital of the partnership. When there is an
agreement to contribute un-equal shares,
the contribution shall follow such
agreement.
5. A partner who does not take active part
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
in the business and is not known or held out
as a partner. *
a. Retiring
b. Incoming
c. Dormant
d. Silent
6. In case a specific and determinate thing
2. It is the change in the relation of the
is to be contributed, a partner is obliged to
partners caused by any partner ceasing to
perform the following except: *
a. Not to warrant against eviction
b. To warrant against eviction
c. To deliver to the partnership the fruits of
the property promised to be contributed
d. To deliver to the partnership the fruits of
the property promised to be contributed
from the time they should have been
delivered, without need of demand
be associated in the carrying on of the
business. *
a. Winding up
b. Dissolution
c. Termination
d. Execution
3. A partnership which has complied with
all the legal requirements for its
establishment.
a. De facto
b. Ordinary
c. Ostensible
d. De jure
7. Requisites for the contribution of
additional capital. *
a. There is an imminent loss of the business
of the partnership;
b. The majority of the capitalist partners
are of the opinion that an additional
contribution to the common fund would
save the business;
c. The capitalist partner refuses
deliberately to contribute an additional
share to the capital;
d. There is an agreement that even in case
of imminent loss of the business, the
partners are not obliged to contribute.
11. The following are the essential
requisites of a contract of partnership,
8. An inventory is required whenever
movable property is contributed. If
immovable property is contributed, no
inventory is required.
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
except; *
a. Void contract
b. Contribution of money, property or
industry to a common fund.
c. Organized for gain or profit.
d. Licit object
12. Any external thing over which the
rights of possession, use, and enjoyment are
exercised.
a. Money
b. Property
c. Industry
d. Diligence
9. Characteristic of a contract of partnership
where it was entered into as a means to an
end. *
a. Preparatory
b. Nominate
c. Onerous
d. Principal
13. A partnership which comprises all that
the partners may acquire by their industry
or work during the existence of the
partnership and the usufruct of movable or
immovable property which each of the
partners may possess at the time of the
10. Any partner can have the right to a
formal account as to partnership affairs,
except; *
a. If he is wrongfully excluded from the
partnership business or possession of its
property by his copartners;
b. If the right exists under the terms of any
agreement;
c. If the right does not exist under the terms
of any agreement;
d. If without his consent, a partner has
derived profits from any transaction
connected with the formation, conduct, or
liquidation of the partnership
celebration of the contract.
a. Universal partnership of profits
b. Universal partnership of all present
property
c. General Partnership
d. Particular Partnership
14. Characteristic of a contract of
partnership where contributions in the form
of either money, property and/or industry
must be made. *
a. Preparatory
b. Nominate
c. Onerous
d. Principal
18. A partnership where the existence of
certain persons as partners is unknown to
15. Char acteristic of the principle of
delectus personae. *
a. A person has no the right to select
persons with whom he wants to be with in
partnership.
b. A person has the right to select persons
with whom he wants to be with in
partnership.
c. A person is forced to select persons with
whom he wants to be with in partnership.
d. None of the choices
the public by any of the partners. *
a. Secret
b Notorious
c. Real
d. Ostensible
19. Partners have the right to receive profits
where partnership is unlawful. *
a. True
b. False
c. None of the choices
16. The partnership has a juridical
personality. Such personality is not separate
and distinct from that of each of the
partners. *
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
17. The following are the indicia of a
partnership. except
a. The partners share in profits and losses.
b. They have equal rights in the
management and conduct of the
partnership business.
c. Every partner is not an agent of the
partnership, and not entitled to bind the
others by his acts.
d. All partners are personally liable for the
debts of the partnership with their separate
property except that limited partners.
20. In a partnership with capital of P3, 000
or more, the contract must appear in a
public instrument and it must be recorded
or registered with the SEC. *
a. Non-appearance in a public document
prevents the formation of the partnership.
b. Non-registration with the SEC prevents
the formation of the partnership.
c. Appearance in public document and
registration with the SEC prevent the
formation of partnership.
d. Non-appearance in public document and
non-registration with the SEC does not
prevent the formation of partnership.
21. A partnership which really exists
among the partners and also as to third
persons. *
a. Secret
b Notorious
c. Real
d. Ostensible
c. Termination
22. Co-ownership or co-possession
d. Execution
establish a partnership. There is coownership whenever the ownership of an
undivided thing or right belongs to different
persons. *
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second
statement is true.
d. First statement is false, second statement
is false.
23. A partnership whose existence is made
26. A partnership where the property which
belongs to each of the partners at the time
of the constitution of the partnership
becomes the common property of all the
partners, as well as all the profits which
they may acquire there with. *
a. Universal partnership of profits
b. Universal partnership of all present
property
c. General Partnership
d. Particular Partnership
known to the public by the members of the
firm. *
a. Secret
b. Notorious
c. Real
d. Ostensible
24. A partner whose liability to third
persons extends to his separate property. *
a. Industrial
b. General
c. Liquidating
d. Subpartner
27. Characteristic of a contract of
partnership where it was provided a name
or designation. *
a. Preparatory
b. Nominate
c. Onerous
d. Principal
28. The partners do not retain their
ownership over their present and future
property. What passes to the partnership are
the profits or income and the use or
25. It is the point in time when all
usufruct. *
partnership affairs are completely wound
up and finally settled which signifies the
a. First statement is true, second statement
is false.
end of the partnership life. *
a. Winding up
b. Dissolution
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
29. A partnership which is limited and
well-defined, being confined to an
conduct or admission, are precluded to
deny or disprove its existence. *
a. Secret
b. Notorious
c. Real
d. Ostensible
undertaking of a single, temporary, or ad
hoc nature. *
a. Universal partnership of profits
b. Universal partnership of all present
property
c. General Partnership
d. Particular Partnership
30. Before a partner can sue another for
33. A partner who, not being a member of
the partnership, contracts with a partner in
relation to the latter’s share in the
partnership. *
a. Industrial
b. General
c. Liquidating
d. Subpartner
alleged fraudulent management and
resultant damages, it must first be effected
to determine the extent of the damage. *
a. Execution
b. Liquidation
c. Winding up
d. Receivership
34. A partner's interest in the partnership.
a. Losses
b. Profits and surplus
c. a & b
d. None of the choices
35. Every partner must account to the
31. The following articles cover the law on
partnership any profits derived by him
partnership under the New Civil Code. *
without the consent of the other partners
from any transaction connected with the
a. Arts. 1767-1867
b. Arts. 1868-1967
c. Arts. 1567-1666
d. Arts. 1467-1566
formation, conduct, or liquidation of the
partnership or from any use by him of its
property. This obligation is denominated
as: *
32. A partnership which in reality is not a
partnership, but is considered a partnership
only in relation to those who, by their
a. Pledge
b. Guaranty
c. Receivership
d. Trustee
36. A partner who takes charge of the
winding up of partnership affairs upon
dissolution. *
a. Industrial
b. General
c. Liquidating
d. Subpartner
37. A partnership is dissolved by operation
of law upon the happening of an event
which makes it unlawful. A judicial decree
is necessary to dissolve an unlawful
partnership.
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
38. It is the actual process of settling the
partnership business or affairs where it
involves the collection and distribution of
partnership assets, payment of debts, and
determination of the value of the interest of
the partners in the partnership. *
a. Winding up
b. Dissolution
c. Termination
d. Execution
39. Partnership formed by two or more
persons having as members one or more
general partners and one or more limited
partners. *
a. Limited
b. General
c. Open
d. Ostensible
40. A partner who contributes only his
personal service.
a. Industrial
b. General
c. Liquidating
d. Subpartner
BL 2 Final Term
1. Fine for tolerating graft and corrupt
practices in a corporation. *
a. 500,000.00 – 1M pesos
b. 100,000.00 – 1M pesos
c. 10,000.00 – 1M pesos
d. 200,000.00 – 1M pesos
2. A verified petition made by the chief
archbishop, bishop, priest, minister, rabbi,
or presiding elder for the sale and mortgage
persons legally authorized to make the
transfer of the certificate
c. The transfer must be recorded in the
books of corporation to be valid against
third person
d. There must be constructive delivery.
5. The corporation is a national of the
country under whose laws it is organized or
incorporated. *
a. Grandfather Rule
b. Control Test
c. Doctrine of separate juridical personality
d. Place of incorporation test
of a real property of a corporation sole. *
a. Contract of sale or mortgage
b. Real Estate Mortgage
c. Application for leave to sell or mortgage
d. Application to sell or mortgage
6. A proof that one is a holder or owner of a
3. A corporation whose issued stock of all
a. Record books
b. Minute book
c. Certificate of stock
d. Bylaws
classes, exclusive of treasury shares, shall
be held of record by not more than a
certain number of shares of stock in the
corporation. *
specified number of persons, not exceeding
twenty
7. The retained earnings which have not
been reserved or set aside by the board of
a. Public
b. Close
c. Private
d. Educational
4. The requisites for valid transfer of stocks
directors for some corporate purpose. *
a. Dividend
b. Unrestricted retained earnings
c. Retained earnings
d. Profits
are the following, except; *
a. There must be actual delivery of stock
certificate
b. There must be endorsement by the
owner or his attorney-in-fact or other
8. Directors or trustees cannot attend or
vote by proxy at board meetings.
Stockholders or members may attend or
vote by proxy at a meeting. *
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
12. Y owns 1,000 shares of stock in Z
corporation. During the meeting for the
purpose of electing five directors, he may
cast his vote by giving each of the five
candidates 200 votes, hence, he distribute
equally his vote without preference or
discrimination. *
9. Also called as capital stock if it is the
corporation’s only class of stock
outstanding.
a. Common stock
b. Preferred stock
c. Watered stocks
d. Treasury stock
a. Straight voting
b. Lineal voting
c. Cumulative voting for one candidate
d. Cumulative voting by distribution
13. Entities who have agreed to take and
pay for original, unissued shares of a
corporation formed or to be formed. *
10. The following corporations require the
favorable recommendation of appropriate
agency prior to approval by the
a. Stockholders
b. Members
c. Officers
d. Subscribers
Commission of its Articles of
Incorporation, except; *
14. Corporate directors are personally liable
a. insurance and trust companies;
b. non-stock savings and loan associations
(NSSLAs);
c. pawnshops;
d. educational institutions
if found guilty of gross negligence or bad
faith in directing the affairs of the
corporation, which results in damage or
injury to the corporation, its stockholders or
members, and other persons. *
11. Date of approval of the Revised
Corporation Code of the Philippines. *
a. February 19, 2019
b. February 20, 2019
c. February 21, 2019
d. February 22, 2019
a. Doctrine of corporate authority
b. Trust fund doctrine
c. Place of incorporation doctrine
d. Derivative suit
15. A contract of the corporation with one
(1) or more of its directors, trustees,
officers or their spouses and relatives
within the fourth civil degree of
consanguinity or affinity. *
a. Subscription contract
b. Management contract
c. Self-dealing contract
d. Inter-locking directors’ contract
16. A power of the SEC that shall include
the examination and inspection of records,
regulation and supervision of activities,
enforcement of compliance, and imposition
a. To have perpetual existence unless the
certificate of incorporation provides
otherwise;
b. To adopt and use a corporate seal;
c. To amend its articles of incorporation in
accordance with the provisions of this
Code;
d. To adopt bylaws contrary to law, morals
or public policy.
19. A One Person Corporation is a
corporation with a single stockholder. A
One Person Corporation shall be required to
have a minimum authorized capital stock. *
of sanctions in accordance with this
Code. *
a. Examination power
b. Inspection power
c. Visitation power
d. Inherent power
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
17. A body created by the bylaws
composed of not less than 3 members of the
board which, subject to the statutory
20. A corporation has the power to extend
or shorten its term through: *
limitations, has all the authority of the
board of directors to the extent provided in
the bylaws. *
a. Board of directors
b. Management Committee
c. Board of trustees
d. Corporate officers
18. The following are the capacities of a
corporation, except; *
a. Approval by a majority vote of the board
of directors or trustees,
b. Ratification at a meeting by the
stockholders or members representing at
least 2/3 of the outstanding capital stock or
of its members.
c. a&b
d. None of the choices
21. The following are the justifications
when Articles of Incorporation or
amendment of Articles of Incorporation
c. First statement is false, second statement
is true.
may be disapproved, except; *
a. The articles of incorporation or any
amendment thereto is substantially in
accordance with the form prescribed
herein;
b. The purpose or purposes of the
corporation are patently unconstitutional,
illegal, immoral or contrary to government
rules and regulations;
c. The certification concerning the amount
of capital stock subscribed and/or paid is
false; and
d. The required percentage of Filipino
ownership of the capital stock under
existing laws or the Constitution has not
been complied with.
d. First statement is false, second statement
is false.
24. Any contract whereby a corporation
undertakes to operate all or substantially all
of the called services contracts, operating
agreements or otherwise. *
a. Subscription contract
b. Management contract
c. Self-dealing contract
d. Inter-locking directors’ contract
25. It is the number of persons belonging to
22. A long term obligation secured usually
by real property of the corporation. *
a. Bonded indebtedness
b. Security
c. Guaranty
d. Surety
23. A corporate name is allowed if it is not
distinguishable from that already reserved
or registered for the use of another
corporation. It is not allowed if such name
is already protected by law, rules and
regulations. *
a corporation required to transact
business. *
a. Majority
b. 2/3
c. Quorum
d. All members
26. Any contract for the acquisition of
unissued stock in an existing corporation or
a corporation still to be formed. *
a. Subscription contract
b. Management contract
c. Self-dealing contract
d. Inter-locking directors’ contract
1/1
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
27. A corporation which is organized for
charitable, religious, educational,
professional, cultural, fraternal, literary,
scientific, social, civic service, or similar
demand may be made by such director,
purposes. *
trustee or stockholder at their expense, for
a. Stock
b. Non-stock
c. Educational
d. Principal
28. A proclamation officially made by a
corporation usually expressed in the form
of a resolution of the board of directors
requiring payment of all or a certain
copies of such records or excerpts from said
records. *
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
prescribed portion of a subscriber's stock
subscription. *
a. Regular Meeting
b. Special Meeting
c. Call
d. Quorum
29. An agreement may be provided in the
articles of incorporation or bylaws of a
corporation where disputes between the
corporation, its stockholders or members,
which arise from the implementation of the
articles of incorporation or bylaws, or from
31. A dissolution of a corporation
conducted by the Commission motu proprio
or upon filing of a verified complaint by
any interested party. *
a. Voluntarily Dissolution Where No
Creditors are Affected
b. Voluntary Dissolution Where Creditors
are Affected
c. Dissolution by Shortening Corporation
Term
d. Involuntary Dissolution
intra-corporate relations, are referred into. *
a. Subscription agreement
b. Contract agreement
c. Arbitration agreement
d. Pre-nuptial agreement
32. It is the loss of one of the corporations
by amending the articles of incorporation
and shortening its term of existence with
the other corporation acquiring all the
30. Corporate records shall be open to
inspection by any director, trustee,
stockholder or member of the corporation
in person or by a representative at
reasonable hours on any day. Verbal
assets, rights of action, and assuming all the
liabilities of the disappearing corporation. *
a. Absorption
b. Union
c. Consolidation
d. Merger
or other legal processes against a foreign
corporation. *
33. The power to remove directors or
trustees belongs to the stockholders or
members exclusively. The SEC cannot by
a. Agent
b. Resident agent
c. Representative
d. Guarantor
motu proprio or upon verified complaint
order the removal of a director or trustee. *
36. An impartial person who is neither a
a. First statement is true, second statement
is false.
stockholder nor a creditor of a close
b. First statement is true, second statement
is true
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
corporation or any of its subsidiaries or
affiliates who shall have all the rights and
powers of a duly elected director, including
the right to be notified of and to vote at
meetings of directors until removed by
order of the Commission or by all the
stockholders.
34. Any stockholder of a corporation shall
have the right of appraisal and demand
payment of the fair value of the shares in all
a. Chairman of the Board
b. Provisional Director
c. Secretary
b. Compliance Officer
instances. One of the situation where the
right of appraisal can be exercised is in
merger and consolidation. *
37. Members of the board of trustees of this
non-stock corporation shall have not less 5
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
nor more than members: *
35. An individual or domestic corporation
38. He/ She shall sit as director and manage
who shall receive summons and other legal
the affairs of the One Person Corporation
processes that may be served in all actions
until the legal heirs of the single
a. Close
b. Religious
c. Foreign corporation
d. Educational
stockholder have been lawfully determined
in case of death or permanent incapacity of
11. The vendor who has chosen to exact the
the single stockholder. *
fulfillment of the obligation is not limited
a. Secretary
b. Heir
c. Alternate nominee
d. Nominee
39. A document acquired by a foreign
corporation from the SEC which shall give
to the proceeds of the sale of the mortgaged
goods. He may still recover from the
purchaser the unpaid balance of the price, if
any. *
a. Remedy of specific performance
b. Remedy of cancellation
c. Remedy of foreclosure
d. Remedy of appeal
it the right to transact business in the
Philippines. *
12. The following are rules in the forms of
contract of sale, except; *
a. License
b. Certificate of Incorporation
c. Permit
d. Bylaws
40. Close corporation has more than 20
stockholders, who if not related by blood or
a. a contract may be entered into in any
form
b. where form is required in order that a
contract may be enforceable
c. where form is required in order that a
contract may be valid
d. where form is not required for the
convenience of the parties
marriage, know each other well and are
aware of each other’s business skills. The
stocks of the close corporation are not listed
13. The reason/s for prohibition of certain
on the exchange nor is there trading in them
individuals to enters into a contract of sale
outside the stock market. *
due to their relationship to the property
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
BL 3 Final Term
involved. *
a. Public policy
b. Fiduciary relationship
c. To prevent fraud
d. All of the choices
14. Where the thing is entirely lost at the
time of perfection, the contract is *
a. Rescissible
b. Unenforceable
c. Void
d. Voidable
15. Is that ‘reasonable’ sum which property
18. A kind of contract of sale where the
sale is not subject to any condition
whatsoever and where title passes to the
buyer upon delivery of the thing sold. *
would bring on a fair sale by a man willing
but not obliged to sell to a man willing but
not obliged to buy.” *
a. Assessed value
b. Reasonable value
c. Market value
d. Reasonable price
a. Absolute
b. Conditional
c. Actual
d. Suspensive
19. An agreement whereby one of the
parties obligates himself to deliver
16. It is the alienation of property to the
something to the other who, on his part,
creditor in satisfaction of a debt in
binds himself to pay therefor a sum of
money. *
a. Pledge
b. Guaranty
c. Dation in pago
d. Sales
money or its equivalent. *
a. Contract of sale
b. Contract to sell
c. Contract of lease
d. Barter
17. A bilateral contract whereby the
prospective seller, while expressly
reserving the ownership of the subject
property despite delivery thereof to the
prospective buyer, binds himself to sell the
said property exclusively to the prospective
buyer upon fulfillment of the condition
agreed upon, that is, full payment of the
purchase price. *
a. Conditional contract of sale
b. Contract to sell
c. Contract of lease
d. Barter
20. A derivative mode of delivery by virtue
of which one who has the right and
intention to alienate a corporeal thing,
transmits it by virtue of a just title to one
who accepts the same. *
a. Actual
b. Constructive
c. Tradition
d. Quasi-traditio
21. This refers to the “price certain in
money or its equivalent” such as a check or
a promissory note, which is the
consideration for the thing sold. *
a. Consent
b. Object
c. Cause
d. Subject matter
22. An instrument in writing by which one
person, as principal, appoints another as his
agent and confers upon him the authority to
perform certain specified acts or kinds of
obligation with the understanding that when
the obligation is fulfilled, the thing
delivered shall be returned with all its fruits
and accessions. *
a. Commodatum
b. Mutuum
c. Deposit
d. Pledge
acts on behalf of the principal. *
a. Power of Attorney
b. Agency
c. Guaranty
d. Surety
26. There can be no sale without a price.
The cause in sale is, as to the seller, the
buyer’s promise to pay the price, and as to
the buyer, the seller’s promise to deliver the
23. It means something that is sold every
thing sold. *
day, and is constantly going out of the store
a. Goods
b. Merchandise
c. Fixtures
d. Real properties
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second
statement is true.
d. First statement is false, second statement
is false.
24. Termination of agency by subsequent
27. The obligations of the vendee are the
acts of the principal. *
following, except; *
a. Compensation
b. Extinguishment
c. Revocation
d. Renunciation
1/1
and being replaced by other goods. *
25. It is a contract by virtue of which the
debt or delivers to the creditor or to a third
person a movable or document evidencing
incorporeal rights for the purpose of
securing the fulfillment of a principal
a. to accept delivery of the thing sold
b. to pay the price of the thing sold at the
time and place stipulated in the contract
c. to bear the expenses for the execution
and registration of the sale
d to put the goods in an undeliverable state.
28. A presumption in a contract of agency
31. A loan of something not consumable so
unless there is proof to the contrary. *
that the borrower may use the same for a
0/1
certain time and return it. *
a. For compensation
b. Gratuitous
c. Donation
d. None of the choices
a. Commodatum
b. Mutuum
c. Deposit
d. Pledge
Correct answer
32. A co-owner of a thing may exercise the
a. For compensation
right of redemption in case the shares of all
the other co-owners or of any of them, are
29. A remedy wherein there has been a
sold to a co-owner. If the price of the
meeting of the minds between the parties,
alienation is grossly excessive, the
but the written instrument purporting to
redemptioner shall pay only a reasonable
embody their agreement does not express
one. *
their true intention by reason, for instance,
of mistake or fraud. *
a. Consummation
b. Cancellation
c. Rescission
d. Reformation
30. The debtor offers another thing to the
creditor who accepts it as equivalent of
payment of an outstanding debt. *
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second
statement is false.
33. Is a contract by which the owner of a
credit and other incorporeal rights transfers,
either onerously or gratuitously, to another
his rights and actions against a third
a. Payment by cession
b. Dation in payment
person. *
c. Consignation
d. Antichresis
a. Assignment
b. Sale
c. Donation
d. Dation in payment
34. S sold to B a car on credit. S has a right
to withhold delivery in any of the following
situations; except when *
a. B becomes insolvent
b. B becomes solvent
c. B gives sufficient guaranty
d. B gives sufficient security
c. To pay interest on funds he has applied
to his own use
d. To be responsible for fraud or
negligence.
38. It is constituted from the moment a
person receives a thing belonging to
another, with the obligation of safely
keeping it and of returning the same. *
35. In a contract of barter, the injured party
is given the following option, except; *
a. recover the property he has given in
exchange with damages
b. claim an indemnity for damages alone.
c. recover the property alone
d. None of the choices
36. A contract wherein a person binds
himself to render some service or to do
a. Commodatum
b. Mutuum
c. Deposit
d. Pledge
39. A thing that is illegal because of its
nature. *
a. illicit per se
b. illicit per accidens
c. illicit per incidens
d. illicit per capita
something in representation or on behalf of
another, with the consent or authority of the
40. The price is considered certain if: *
latter. *
a. The parties have fixed or agreed upon a
definite amount;
b. It be certain with reference to another
thing certain;
c. The determination of the price is left to
the judgment of a specified person or
persons and even before such
determination.
d. all of the above.
a. Sale
b. Agency
c. Guaranty
d. Antichresis
37. The following are the specific
obligations of an agent to the principal,
except; *
a. To carry out the agency which he has
accepted
b. To be responsible in certain cases for the
acts of the substitute appointed by the
principal
41. If is a false price such as when the
vendor really intended to transfer the thing
gratuitously, then the sale is void but the
contract shall be valid as a donation. *
a. simulated price
b. fixed price
c. faked price
d. exact price
42. An act wherein the thing sold is placed
a. First statement is true, second statement
is false.
b. First statement is true, second statement
is true.
c. First statement is false, second statement
is true.
d. First statement is false, second statement
is false.
in the control and possession of the
vendee. *
45. The following are the specific
obligations of the seller, except; *
a. Sale
b. Delivery
c. Payment
d. Cession
43. This mode of delivery takes place by
the mere consent or agreement of the
a. to transfer the ownership of the
determinate thing sold
b. to pay for the goods delivered
c. to warrant against eviction and against
hidden defects
d. to take care of the thing, pending
delivery, with proper diligence
contracting parties as when the vendor
merely points to the thing sold which shall
46. A warranty that which the law derives
thereafter be at the control and disposal of
by implication or inference from the nature
the vendee. *
of the transaction or the relative situation or
a. Traditio brevi mano
b. Traditio longa manu
c. Traditio constitutum possessorium.
d. Quasi-traditio
44. The demand or tender of delivery to be
circumstances of the parties irrespective of
any intention of the seller to create it. *
a. Implied
b. Express
c. Fitness
d. Description
effectual must be made at any hour of the
day. What is a reasonable hour is a question
47. The following are the remedies of an
of fact largely dependent upon the
unpaid seller, except; *
circumstances. *
What is a reasonable hour is a question of
fact largely dependent upon the
circumstances.
a. A lien on the goods or right to retain
them for the price while in his possession
b. A right of stopping the goods not in
transitu in case of insolvency of the buyer
c. A right of resale
d. A right to rescind
48. The following are the elements of right
in transit, except; *
a. The seller must be unpaid;
b. The buyer must be solvent;
c. The goods must be in transit;
d. The seller must either actually take
possession of the goods sold
49. Nature of remedies of vendor in sale of
personal property payable in installments. *
a. Cumulative
b. Alternative
c. Relative
d. Successive
50. This refers to the agreement on the part
of the seller to transfer and deliver and on
the part of the buyer to pay. *
a. Consent
b. Object
c. Cause
d. Consideration