The distinction between conventional subrogation and assignment is that in conventional
subrogation: 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 consignation? a)actual consignation b)prior notice c)existence of a valid debt d)there must be prior notice 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 persons 16. A remedy in equity by means of which a written instrument..when some error or mistake is committed 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 husband.. 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 Where damages is caused.the contract may be a)annulled b)rescinded c)ratified d)all of the above 23.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 d)unenforceable,valid,void 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 inocente 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 st 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 inocente 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 domino 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 thedefect 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 d)willexistence
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 appropriate 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 offending. 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 notes 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 unrestricted.. 75. A corporation officer or directorfinancially able to undertake a) Doctrine offiction b)Trust fund doctrine.. c)Doctrineopportunity d)Doctrine of capacity 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- 17,500-5,000 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 corporation 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 non-stock.. 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