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The distinction between conventional subrogation and assignment is that in conventional

a) It is a mere cession or right c) The same obligation, w/out being extinguished
b) An obligation is extinguish and another appears d) answer not given
11. A mango tree in the land of O is reclining towards the road..The liability of O to X arises from:
a)Law b)Contract c)Quasi Contract d)Delict e)Quasi Delict
12. B sold 100 bottles of imported Fundador brandy to S The contract b/w B and S is:
a)voidableb)void c)valid d)rescissible
13. The following are the remedies of the creditor to pursue his claims against the debtor, except to
a)pursue the property b)exercise all the rights c)impugn the acts d)compel the debtor
14. Consignation is a mode of payment which extinguishes an obligation.not a requisite for
a)actual consignation b)prior notice c)existence of a valid debt d)there must be prior
15. Which of the following is not an element of compensation
a)debts to be compensated b)there is controversy c)there are two or more debts d)there are two
16. A remedy in equity by means of which a written instrument..when some error or mistake is
a)ratification b)cancellation c)annulment d)reformation
17. An oral contract of sale involving a wooden table sold for P500 is----
a)voidable b)rescissible c)unenforceable d)void/inexistent
18. This contract is without effect unless ratified
a)marriage b/w.. b)contract of sale b/w two c)contract of sale b/w a guardian.. d)donation b/w
19. To cancel a contract and to restore., the parties should execute a
a)novation b)release c)revocation d)rescission
20. Which constitutes an offer?
a)business ad.. b)advertisements for.. c)an offer made d)before an acceptance
21. Because A wants to sell his land..The contract
a)not binding.. b)it is unenforceable c)may be ratified d)it is valid..
22. Where damages is caused.the contract may be
a)annulled b)rescinded c)ratified d)all of the above
23. When the contract lacks one of the essential elements the contract is
a)void b)rescissible c)voidable d)none of the above
24. D is indebted to C..D donated all of his properties worth the same amount to X.
a)The contract is absolutely simulated b).is rescissible c)is merely voidable d)is void
25. Q1: A intimidated B to marry As daughterQ2:Contracts entered into in a state of drunkenness
Q3: an absolutely simulated contract is.
a)rescissible, voidable, unenforceable b)voidable, voidable, void c)void,void,valid
26.An action to annul a voidable sale is extinguished by
a)novation b)ratification c)rescission d)estoppel
27.S1: Dolo causanti is unnullable.. S2: S told B shoes which they honestly believe S3:Ratification of a
voidable or unenforceable..
S4: Ratification cleanses a voidable
a)True, true, true, false b)false, true, true, true c)false, false, false, true d)true, true,
true, true
28. The ff. are the elements of quasi delict, except
a)act or omission b)fault/negligence c)damage/injury d)pre-existing contract
29. A debtor is liable for damages in case of delay if he is guilty of nay of the ff:
a)default (mora) b)mistake c)negligence d)breach through.
30.Which of the ff is not included in the attributes of juridical capacity?
a)juridical capacity is inherent b)juridical personality c)juridical capais the fitness..
d)juridical capa..cannot exist
31. Where it is stipulated that the repurchaserepurchase shall be exercised
a)w/in 4 yrs b)w/in 10 yrs c)after 10 yrs d)none of them
32. If redemption is made,seller to the buyer?
a)price paid b)expenses in the c)all necessary expenses d)interest of the price..
33.Where the seller is no longer liable
a)waiver consciente b)waiver intentionada c)waiver cursunada d)waiver
34.P authorized A in writing to sell his carwho shall have the better right to the property sold?
a)Thebuyerwho1st possessed b)Thebuyerwho 1st paid c)Thebuyerwho1stbought
d)Thebuyerwho1 registered
35. P sent a letter to A authorizing A to sell his landWhich of the ff statements is correct?
a)P can recover the land.. b)P is not bound.. c)P can no longer d)none of the above
36. A offers to B 100 electric fansb/w A and B relating to the terms.
a)the contract..acceptance by B b)there is nocounter offer c)the contract..terms of A d)There
earnest money
37. Where the seller is liable to the value of the thing at the time of eviction
a)waiver consciente b)waiver intentionada c)waiver cursunada d)waiver
38. If area is specified in a contract of sale of real propertyand the boundary:
a)boundary prevails b)area prevails c)there must be another survey d)contract
is void
39. Andy sold to Bob a parcel of land.Who is the rightful owner?
a)Cathypossession or title b)Bobolder title c)Cathy..ahead of Bob d)Andyres perit
40. Asyong stole the necklace of PetraWhich is correct?
a)Tekla..asyong is not the real owner b)Petra. c)Tekla..merchant store d)when
the necklaceto Tekla
41. Apledged his watch for 20k18k can B recover the deficiency? 22k can A recover the excess?
a)Yes even w/out, No even if.. b)Yes if there, No..is void c)No even if, Yes only if there d)No unless, Yes
even w/out
42. S1:The property which has been lawfully pledged S2:When the principal obligation becomes,
STATEMENTS: True or False?
a)False, False b)True, True c)False, True d)True, False
43. To bind the parties in a contract of: I.Pledge..II.Chattel MortgageIII.Real Mortgage..Which of the
above statements is correct?
a) 1 only b)2 and 3 c)1 and 2 d)all
44.To bind third persons: I.Chattel MortgageII.Real MortagageIII.PledgeWhich of the above
statements is correct?
a)1 and 3 b)2 and 3 c)1 and 2 d)all
45. A mortgage his watch for 200k..180k can B recover the deficiency? 220k can A recover the excess?
a)Yes, even w,out, Yes even w/out b)Yes if there, No..is void c)No even if, Yes only if d)No
unless, No even if
46.A contract where the creditor acquires the rightprincipal of his credit is
a)Antichresis b)Usufruct c)Real estate motgage d)commodatum
47. Not unconditional order to pay
a)To pay..fund b)To pay and chargefund c)A and B d)Neither A nor B
48.I Treasury warrantsII Travelers checksIII Postal moneyIV Letters of credit Which of the ff
statements is (are) false?
a) I b) II c) II and IV d)I, II and IV
49. His warranty extends in favor..no other holder
a)Qualified indorser b)General indorser c)Persondelivery d)Person.indorsement
50. Which of the ff. is not a negotiable instrument?
a) Pay tomothly installments b)Pay to..account thereafter c)Pay12%per annum
d)Payattorneys fees
51. Holder H altered the amountAs a result
a)If P is a holderpay 110,000 b)If P is not..P10,000 c)P cannot require. d) If P is a
holder for valuefrom H
52. Which of the ff is not correct?
a)Whereholder title b)Wherepayees indorsement c)Theinstrument d)The holderhis title
53. A holder is a holder in due course.except.
a)That the became..the fact b)That he took itfor value c)That there isoverdue d)That at
54. A check is..
a) a bill of exchange b)The same as promissory note c)is drawn by a maker d) a non-
negotiable instrument
55. This is a real defense..
a)fraud inducement b)want of delivery.. c) absence of consideration d) duress in
absence of..pressure
56. Every contract of partnership.said requirements
a. will not affect..third persons b)will render the partnership void c)will not givepersonality

57.Which of yhe ff is an essential element of partnership?

a)There must be acommon fund b)It must bethemselves c)there must..agreement d)all of them
58.Which of the ff. is considered prima facie .a partnership?
a) where payment.. b)the receipts c)the sharing d)where the parties..
59. no.1- a substituted limited partner has the rightno.2-a substituted limited partner shall be..
a)True, False b)False, True c)True, True d)True, False
60. The ff. are the effects of unlawful partnership, except
a)The contracts.. b)The profits c)The instruments d)The contributions
61. X, Y and Z are partners.share of X?
a) equal to..Z b)P6,000 c)Zero d)Equal toY
62. This is the order of preferencegeneral partnership (O-outside creditor; PaC-Partners as Creditor; PC-
Partners Capital; PP- Partners Profit; PsC-Partners Creditors)
a)O-PaC-PC-PP b)PaC-O-PC-PP c)PC-O-PaC-PP d)O-PsC-PP-PoC
63.The change in the relation of the partners.partnership
a)Realization b)Dissolution c)Winding-up d)Termination
64. True or False: Act of administration.Act of dominion or ownership
a) Ony 1st ..is true b)Only 1st..is false c)Bothare true d)Bothare false
65. Property rights of a partner, except
a) To use specific b)To share c)To participate d)To exercise
66. Which of the ff persons..partneship?
a) Those.adultery or concubinage B)husband and wife c)those..consideration of the same
d)brother and sister
67. A, B and C formed a partnershipbest for A and B?
a)Expel C from partnership b)They may appropriate c)Make C liable.. d)Expel C or
68. K is an industrial partner.The share of K in the profits is
a) The remaining.. b)Combination of.. c)Such share as may be d)Pro-rata to his
69. Which of the ff statements is incorrect?
a) an industrial..the partnership b)an industrialfor himself c)a capitalist..is engaged d)an
70. Partner Abusado while driving.thru reckless imprudence.
a) Only Abusero is b)The partnership is liable c) Abusero is free from liability..
d)The partnership and all..
71. No par-value stock cannot be issued for a consideration less than
a) P10.00 b)P5.00 c)P1.00 d)P0.50
72. The ff, except one are valida corporation
a)Intangible property b)previous corporate obli.. c) Outstanding shares d)Promissory
73. Any profit which it may earn shall be used.distributable to its members.
a)Close corp.. b)Stock corp c)Private Educ Corp.. d)Non-Stock Corp..
74. The ff are the requisites, except one.stock dividend
a)Existence of original b)Dividend declaration c)It is issued to increase d)existence of
75. A corporation officer or directorfinancially able to undertake
a) Doctrine offiction b)Trust fund doctrine.. c)Doctrineopportunity d)Doctrine of
76. A corporation where vacancies in the BOD.the board is:
a) Open Corp b)Corp sole c)Eleemosynary corp d)Close corp..
77. Statement No. 1- all the issued stocks no.2- Foreign Corporations
a) Both are true b)Both are false c)No1 is true, 2 is false d)1 is false, 2 is true
78. These do not form part of the outside capital stock
a)Bonus share b)Treasury share c)Founders share d)Redeemable share
79. This share can be acquired by the corporationretained earnings
a) Founders share b)Redeemable share c)Par value share d)No-par share
80. Corporations organized by private personsare:
a) Public Corp b)Govnt Controlled Corp c)Quasi-Public corp d)Private Corp
81. Choose the minimum requirement of the Corp Law to corp formation. (Authorized-Subscribed Capital-
Paid in Capital)
a)70,000-14,000-2,800 b)70,000-14,000-3,500 c)70,000-17,500-4,375 d)70,000-
82.Three of the ff enumerations are not authorizedthe exception?
a) Insurance Comp b)Industrial Comp c)Public utilities d)Trust Comp
83. In the amendment of the Article of Incorpo..
a)Amendment.outstanding capital stock b).by a vote 2/3 of stockholders c)Amend.BOD
d)None of the three
84. In which of the ff. right of appraisal?
a)Amendment of the.to increase b)to change corp name c)to transfer location d)in case
of merger
85. A delinquent stock
a)shall be voted b)shall be..cash dividends c)shall bestockholders meeting d)shall be.the
86. Except as a condition in a loan agreementshall not exceed
a)6 months b)1 year c)3 years d)5 years
87. Regular meetings of stockholders..,in
a) January b)April c)July d)December
88. Which of the ff statements is correct
a)Treasury stock sold.. b)Five but not more c)No par value shares d)Membership in
89. As a rule, pre-incorporation subscription is irrevocable for a period at least
a) 30 days b) 60 days c) 6 months d)1 year
90. If there are 9 members of the board .minimum number of its members is
a) 7b)5 c)4 d) 3
91. The excutive shall act
a) Unanimous vote b)Majority Vote c)2/3 vote d)3/4 vote
92. In a meeting to elect the officers.President of the Corp?
a)9 b)7 c)6 d)5
93. The board of directors or trustees may amend.
a)majority vote b)unanimous vote c)2/3 vote d)3/4 vote
94. The stockholders or members may delegate..laws by
a)majority vote b)unanimous vote c)2/3 vote d)3/4 vote
95. Cash dividend as distinguished from stock dividend
a) Corporate capital.. b)Concurrence c)Involves disbursement d)Being part of
96. Non voting shares may vote, except
a) increase in capital stock b)merger c)dissolution d)managemet contract
97.P, the president of X CorporationSuch contract is:
a)valid b)rescissiblle c)voidable d)unenforceable e)void
98. One of the ff is not required..which one?
a) Duty of Diligence b)of Loyalty c)of obedience d)..of efficiency
99. The power to deny pre-emptive rights.
a)incidental power b)express. c) implied d)discretionary.
100. The contract between the corporation with interlocking directors is generally
a) valid b)voidable c) unenforceable d)void