Vous êtes sur la page 1sur 4

1. A, B, and C are partners contributing services, P20,000 and P40,000 respectively.

The distribution of the P80,000 net assets shall be:


a. A- P20,000 B-P20,000 C-P40,000
b. A- P5,000 B-P25,000 C-P50,000
c. A-P32,000 B-P16,000 C-P32,000
d. A-P26,667 B-P26,667 C-P26,667
b
2. This is not a characteristic of pledge
a. Bilateral b. Nominate c. Consensual d. Real

3. Statement 1- Shares of stock can be the object of pledge or mortgage


Statement 2- Real estate mortgage is an accessory contract
a. true, true b. false, false c. true, false d. false, true
a
4. One or more but less than all the partners have no authority to perform the following
except:
a. Renounce a partnership claim
b. Submit a partnership claim or liability to arbitration
c. Convey partnership property in the ordinary course of partnership business
d. Do any act which would make it impossible to carry on the ordinary business of
the partnership
c
5. A limited partnership has A, as general partner, B, as limited partner, and C, as an
industrial partner contributing P50,000; P50,000 and services respectively. The
partnership failed and after disposing all its assets to pay partnership debts there still
remains a note payable in the sum of P30,000. Against whom can the creditor
demand payment?
a. A-P30,000 B-P0 C-P0
b. A-P15,000 B-P15,000 C-P0
c. A-P15,000 B-P0 C-P15,000
d. A-P10,000 B-P10,000 C-P10,000
c
6. Statement 1- Any stipulation authorizing the pledgee to appropriate the thing pledged
is void and without effect.
Statement 2- If after the auction sale, the thing pledged is not sold, the pledgee can
appropriate the thing pledged.
a. true, true b. false, false c. true, false d. false, true

7. A pledged his watch to B for P20,000. A failed to pay his obligation. B sold it at public
auction for P18,000. Can B recover the deficiency?
a. Yes, even without stipulation
b. Yes, if there is stipulation
c. No, even if there is stipulation
d. No, only if there is stipulation
c
8. Using the preceding number, if the sale is for P22,000, can A recover the excess?
a. Yes, even without stipulation
b. Yes, if there is stipulation
c. No, even if there is stipulation
d. No, only if there is stipulation
b
9. A mortgaged his car to B for P200,000. A failed to pay his obligation. B sold it at public
auction for P180,000. Can B recover the deficiency?
a. Yes, even without stipulation
b. Yes, only if there is a stipulation
c. No, even if there is stipulation
d. No, unless there is stipulation
a
10. Using the preceding number, if the sale is for P220,000, can A recover the excess?
a. Yes, even without stipulation
b. Yes, only if there is stipulation
c. No, even if there is stipulation
d. No, unless there is stipulation
a
11. A corporation is deemed dissolved
a. Ceased operation for at least five years
b. No commencement of business transactions within 2 years from issuance of
certificate of incorporation
c. A member of the board is convicted of an offense
d. Majority of the members of the board are dead
b
12. Which of the following corporate acts requires the approval of the majority of the
outstanding capital stock or of the members of the private corporation
a. To invest corporate funds in another corporation or business.
b. To amend the articles of incorporation.
c. To adopt by-laws
d. To dissolve the corporation
c
13. Except for one, every corporation whose character expires by its own limitation, or
annulled by forfeiture or otherwise, or whose corporate existence for other purpose is
terminated in any other manner shall nevertheless be continued as a body corporate
for three years after the time when it would have been dissolved for the purpose of
the following. The exception is
a. Prosecuting and defending suits by or against it and enabling it to settle and close
its affairs.
b. To dispose and convey its property
c. To distribute its assets
d. Continuing the business for which it was established
d
14. Which of the following is not correct?
a. A partnership begins from the moment of the execution of the contract, unless it is
otherwise stipulated.
b. Persons who are prohibited from giving each other any donation or advantage
cannot enter into universal partnership.
c. A particular partnership has for its objects determinate things, their use or fruits, or
a specific undertaking or the exercise of a profession or vocation.
d. Articles of universal partnership entered into without specification of its nature,
only constitute a universal partnership of all present property.
D

2
15. Objects of pledge, except:
a. Negotiable instruments
b. Shares of stocks
c. Pieces of jewelry
d. Piece of land
d
16. The following are the rules in case a managing partner collects a demandable debt
from a person who also owes the partnership a demand debt, except
a. The sum collected shall be applied to the partnership credit
b. It shall be applied to the two credits in proportion to their amounts
c. The sum shall be fully applied to the partnership credit, if the receipt given is for
the account of the partnership
d. The debtor has the right to have the payment applied in his debt to the partner if it
should be more onerous to him
a
17. The duty to make disclosure, where otherwise there would be a great and unfair
inequality of bargaining position by the use of inside position as regards relation of
directors to stockholders
a. Special circumstances rule
b. Trust fund theory
c. Doctrine of corporate opportunity
d. Incorporate theory
a
18. Chattel mortgage as distinguished from pacto de retro sale
a. A principal and independent contract
b. The title and possession are transferred to the vendee
c. Cannot appropriate to himself the property mortgaged, nor dispose of it
d. Seller may exercise the right to repurchase
c
19. Mutuum as distinguished from commodatum
a. Essentially gratuitous
b. Loan for consumption
c. Object is generally non-consummable
d. Bailor retains the ownership of the thing loaned
B

20. Not an essential requisite of pledge


a. The thing pledged to be placed in the possession of the debtor or of a third person
by common agreement
b. It is constituted to secure the fulfillment of a principal obligation
c. The pledgor is the absolute owner of the thing pledged
d. The person constituting the pledge has the free disposal of the property
a
21. A, B, C and D are partners. Their contributions are as follows: A-P50,000; B-P30,000;
C- P20,000; and D-services. The partnership incurred obligations to third persons,
which the firm was unable to pay. After exhausting all the assets of the partnership,
there is still an unpaid balance of P10,000. How much should each partner pay to the
creditors?
a. A-P5,000 B-P3,000 C-P2,000 D-P0
b. A-P2,500 B-P2,500 C-P2,500 D-P2,500
3
c. A-P4,000 B-P3,000 C-P2,000 D-P1,500
d. A-P4,000 B-P4,000 C-P2,000 D-P0
b
22. A, B and C, co-owners of a particular parcel of land, borrowed P75,000 from X and Y.
The three (3) debtors signed a promissory note on January 10, 2006 promising to pay
the creditors on or before April 3, 2006. In addition, the debtors constituted a
mortgage on their property in favor of the creditors. On maturity date, X demanded
payment. How much can X collect from C upon maturity of the obligations (creditors
are solidary)?
a. P50,000 as it represents the actual share of X in the credit.
b. P25,000 as the obligation is presumed to be joint and the amount represents Cs
share in the obligation.
c. P75,000 based on the promissory note
d. P75,000 because the nature of the obligation is solidary
b
23. Using the preceding number, if C paid X his share in the obligations, can he, as co-
owner of the property, seek a partial release of the mortgage constituted thereon?
a. Yes, because C is answerable only for P25,000
b. Yes, because Cs obligation is already extinguished
c. No, because mortgages are considered indivisible, payment in part shall not
extinguish the obligation
d. No, because the obligation is solidary, payment in part shall not extinguish the
obligation secured by mortgage
c
24. The following are considered elements of the contracts of pledge and mortgage.
Which is the exception?
a. The pledgor or mortgagor must have the free disposal of the thing pledged or
mortgaged
b. The pledgor or mortgagor must be the absolute owner of the thing pledged or
mortgaged
c. Both are accessory contracts
d. The thing maybe appropriated if the debtor cannot pay

d
25. P appointed A as his agent orally to sell his parcel of land for P20,000. ten days later,
A sold the same property for P300,000 through a public instrument executed between
him and B. What is the effect and status of sale between A and B?
a. The sale is valid because A was authorized and it was executed in a public
instrument.
b. The sale is unenforceable because the agent went beyond the scope of his
authority for selling the land for a price higher than the price agreed upon.
c. The sale is void because there was no valid appointment of A as agent of P.
d. The sale can be ratified although the appointment of A was done orally because
the sale between A and B was in a public instrument.
c