BusinessLaw1 Final E. PDF

Preview

Summary

BL1: THE LAW ON OBLIGATIONS & CONTRACTS F I N A L E X A M I N A T I O NGENERAL INSTRUCTIONS: This test is composed of TWO parts each with their own sets of instruction. Read and FOLLOW them carefully before answering the questions. You can write anything on the questionnaire. Final answers M...

Description

BL1: THE LAW ON OBLIGATIONS & CONTRACTS FINAL EXAMINATION GENERAL INSTRUCTIONS: 1. This test is composed of TWO parts each with their own sets of instruction. 2. Read and FOLLOW them carefully before answering the questions. 3. You can write anything on the questionnaire. 4. Final answers MUST be written on your BOOKLET. 5. In your booklet, erasures or alterations of any kind to your answers will not be given any points. 6. This test is good for ONE AND A HALF hours. 7. Submit this questionnaire together with your booklet upon finishing the exam. 7. Wag nang mangopya sa katabi. Magkaiba kayo ng set of questions. Promise. Tsaka, di rin siya nakapag-aral. Tapos pag mas malaki score mo kaysa sa kanya, sure akong magagalit yun sayo. Kaya wag na mangopya. Matalino ka naman e. You just have to convince yourself. Anyways, God bless sa exam at sa future endeavors mo. 

I. MULTIPLE CHOICES. Write your answer in CAPITAL LETTERS. Erasures or alterations of any kind will NOT be given points. 1. A contract where the fulfillment is dependent upon the chance, so the values may vary because of the risk or chance. a. Commutative b. Aleatory c. Remunerative d. Gratuitous 2. Not a requisite for the validity of a contract a. Consent b. Object c. Cause d. Delivery 3. A contract where both contracting parties are incapable of giving consent a. Void b. Rescissible c. Unenforceable d. Voidable 4. Contracts are generally effective only between the parties, their assigns and their heirs a. Consensuality of contract b. Simplicity of contract c. Mutuality of contract d. Relativity of contract 5. They are the elements that are found in certain contracts and are presumed to exist unless set aside by the parties a. Accidental elements b. Natural elements c. Moral elements d. Artificial elements 6. A is the guardian of B, a minor. B sold his land in writing to C valued at P1,000,000 for P700,000. The sale is a. Rescissible b. Voidable c. Unenforceable d. Void

7. A delivered his bracelet to B for B’s necklace. No written agreement was signed by the parties. Which of the following is appropriate description of the contract between A and B? a. Onerous and bilateral b. Onerous and innominate c. Bilateral and innominate d. Aleatory and nominate 8. The following instances will render an offer ineffective before acceptance is conveyed. Which one will not? When one of the parties a. Is civilly interdicted b. Becomes insolvent c. Becomes insane d. Is placed under a hypnotic spell 9. If one party was mistaken and the other acted fraudulently or inequitably in such a way that the instrument does not show their true intention, which one of the following is correct? a. The former may ask for reformation b. The latter may ask reformation c. Either the former or the latter may ask for reformation d. The former may ask for annulment 10. If mistake, fraud, accident or inequitable conduct has prevented a meeting of the minds of the parties to a contract, the proper remedy is a. Ratify the contract b. Ask for specific performance c. Annulment of the contract d. Reformation of the contract 11. A stipulation in favor of a third person a. Stipulation pour autrui b. Stipulation pour over c. Assignment of credit d. Pactum commissorium 12. Pledge, deposit and commodatum are a. Consensual contracts b. Real contracts c. Solemn contracts d. Formal contracts 13. Acceptance of an offer made by letter or telegram shall bind the offer or from the time the a. Offeree accepted the offer b. Offeree sent his letter or telegram c. Acceptance came to the knowledge of the offeror d. Offeror made the offer 14. When in order to wrest consent serious or irresistible force is employed, there is a. Violence b. Mistake c. Intimidation d. Fraud

15. The inadequacy of cause, like an insufficient price for a thing sold a. Lesion b. Cession c. Dation d. Option 16. Where reformation is allowed a. Simple donation inter-vivos wherein no condition is imposed b. Contract of mortgage fraudulently made as a contract of sale c. Wills d. When the real agreement is void 17. A contract in writing for the sale of movable property between a minor and an insane person is a. Void b. Voidable c. Rescissible d. Unenforceable 18. This will cure the defect of an unenforceable contract a. Acknowledgement b. Confirmation c. Ratification d. Referendum 19. G was appointed as guardian of M, the latter being 17 years old. Later, without authority from G, M sold G’s watch in writing to B valued at P100,000 for P70,000. Suffering lesion more the ¼ of the value, the contract is a. Rescissible b. Voidable c. Unenforceable d. Void 20. Unless ratified, suits will not prosper if the contract is a. Rescissible b. Voidable c. Unenforceable d. Void 21. The following contracts are valid except a. A contract where a party gave his consent while in a state of drunkenness b. A contract where a party gave his consent because the other threatened to sue him for an unpaid debt c. A contract where A gave his consent because B threatened to kill A’s spouse d. A contract where the wife sells her property to her husband because of intimidation 22. A offered to sell her watch to B for P1,000. B offered to buy the watch for P800 but it was rejected by A. when B turned to go away. A called him and said she is now willing to sell the watch for P800. May B refuse to buy said watch? a. No, because B’s offer of P800 was accepted by A. b. No, there is a meeting of the minds between the parties or the subject matter and the cause of the contract....