Fernandez, James A.

Pallayoc, Marlon Ventura, Melanie

CREDIT TRANSACTIONS MWF 5:30-6:30

SAMPLE MCQs in ANTICHRESIS

1. The following are distinctions between a contract of antichresis and a contract of pledge except: a. Antichresis is a consensual contract but pledge is a real contract. b. The subject matter of antichresis is real property while that of pledge is personal property. c. The requirement that antichresis must be in writing is essential for its validity while the requirement in pledge that the contract must be in public instrument is merely for the purpose of binding third persons. d. Foreclosure in antichresis in case of non-payment is, as a rule, judicial; whereas in pledge, the foreclosure may either judicial or extrajudicial at creditors option. ANSWER: D 2. What are the characteristics of antichresis? a. Unilateral & Formal b. Formal & Accessory ANSWER: B

c. Accessory & Real d. Real & Formal

3. Does antichresis apply to all of the fruits of the immovable concerned? a. The general rule is that the contract of antichresis covers not all the fruits of the encumbered property. b. The general rule is that the contract of antichresis covers all the fruits of the encumbered property. a. If the parties want all of the fruits to be subject to the antichresis, they must stipulate otherwise. b. If the parties want all of the fruits to be subject to the antichresis, they need not stipulate otherwise. ANSWER: B 4. A borrowed P1M from B. To secure the loan, A delivered a parcel of land with
coconut trees to B, giving B the power to administer it and harvest the coconuts. What is the nature of the contract? a. The contract is one of mortgage. b. The contract is one of an antichresis. c. The contract is one of a pledge. d. The contract is one of a deposit.

ANSWER: A 5. In antichresis, what happens when the debtor defaults on the principal obligation? a. The creditor DOES NOT acquire ownership of the real estate. b. The creditor automatically ACQUIRES ownership of the real estate. c. The creditor acquires ownership if there is a stipulation. d. All of the above is not applicable. ANSWER: A 6. Can the creditor acquire the property given in antichresis by prescription? a. Yes, provided there is a stipulation. B. No, and any stipulation to the contrary shall be void. c. No, in order to acquire property by prescription, possession must not be in the concept of the owner. d. Yes, if the antichretic creditor possesses the property as the true owner.

Fernandez, James A. Pallayoc, Marlon Ventura, Melanie ANSWER: B

CREDIT TRANSACTIONS MWF 5:30-6:30

7. Which is not a characteristic of Antichresis. a. A third person, who is not a party to the principal contract, may offer his immovable under the contract of antichresis to secure the debt of another. b. The contract of antichresis is indivisible. c. The indivisibility of the antichresis is affected by the fact that the debtors are not solidarily liable. d. The contract of antichresis may secure all kinds of obligations pure or conditional. ANSWER: C 8. Which is not applicable to Antichresis? a. The creditor must first apply the fruits to the payment of the interest. b. Just like in a co-ownership, if the creditor repudiates the antichresis, he can acquire the property by prescription. c. The debtor can get back the property subject of the antichresis only when he has totally paid the interest owed. d. If the creditor does not pay the taxes, he is required by law to pay indemnity for damages to the debtor. ANSWER: C 9. The creditor has the following remedies in case of default, except: a. Bring an action for specific performance. b. Petition for the sale of the real property in judicial foreclosure proceedings under Rule 68 of the Rules of Court. c. Petition for the sale of the real property in extra-judicial foreclosure proceedings. d. None of the above. ANSWER: C 10. When can the debtor get back the property subject of the antichresis? a. ONLY when he has totally paid the principal obligation. b. ONLY when the interest has been paid. c. ONLY when the creditor pays the taxes and charges upon the estate. d. ONLY when the interest, taxes and charges has been paid. ANSWER: A