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SMARTSOBLIGATONS A source of obligation where negligence resulted to crime: a) Culpa contractual b) Quasi-contract c) Culpa delictual d) Culpa aquiliana Which is not a source of obligation? a) Law b) Culpa aquiliana c) Culpa contractual d) Quasi-contract Statement No. 1: D oblige himself to give C a...

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SMARTS OBLIGATONS

1. A source of obligation where negligence resulted to crime: a) Culpa contractual b) Quasi-contract c) Culpa delictual d) Culpa aquiliana 2. Which is not a source of obligation? a) Law b) Culpa aquiliana c) Culpa contractual d) Quasi-contract 3. Statement No. 1: D oblige himself to give C a specific car tomorrow. If D failed to deliver tomorrow after demand is made C may compel D to do his obligation and may ask for damages. Statement No. 2: D oblige himself to deliver a car to C tomorrow. If D failed to deliver tomorrow after demand is made C’s right is to ask a third person to deliver a car to him at the expense of D plus damage. a) b) c) d)

Both are true Both are false No. 1 is true; No. 2 is false No. 1 is false; No. 2 is true

4. Which of the following is considered as quasi-contract? a) Solutio indebiti b) When the third person, without the knowledge of the debtor, pays the debt c) Reimbursement due the person who saved property during fire or storm without the knowledge of the owner. d) All of the above 5. A judicial relation known as Negotiorum Gestio takes place. a) When a person voluntarily takes charge of another’s abandoned business or property without the owner’s consent. b) When something is received and there is no right to demand it and it was delivered through mistake. c) When a person is appointed by a court to take the property or business of another. d) None of the above. 6. The wrongful act or tort which causes loss or harm to another is called: a) Damages

b) Damage c) Injury d) Liability

7. Which of the following is not a generic obligation? a) Obligation to pay ₱5,000 b) Obligation to deliver Toyota INNOVA 2005 c) Obligation to deliver 50 cavans of rice d) Obligation to give a delimited generic object 8. Statement No. 1: An obligation which has for its object the delivery of a “delimited generic” object may be lost by reason of fortuitous event. Statement No. 2: There can be no delay in an obligation not to do. a) Both statement are true b) Both statements are false c) Statement No. 1 is true while statement No. 2 is false d) Statement No. 1 is false while statement No. 2 is true 9. If the obligation is payable in foreign currency a) The obligation is void b) The obligation is valid, but the stipulation is void c) The creditor can compel the debtor to pay in foreign currency as per agreement d) The stipulation and the obligation are void. 10. “I’ll give you my car one year after your death.” The obligation is a) Valid, because the event is sure to come. b) Valid, the obligation is conditional. c) Valid, but disregard the condition. d) Void, not legally possible. 11. Statement No. 1: The concurrence of more than one creditor or more than one debtor in one and the same obligation implies solidarity. Statement No. 2: In alternative obligations where the right of choice is exercised by the creditor; consent of the debtor as to the creditor’s choice of which prestation to perform is necessary. a) Both statements are true b) Both statements are false c) Statement No. 1 is true while statement No. 2 is false d) Statement No. 1 is false while statement No. 2 is true 12. Statement No. 1: “I will give you a NOKIA 6610 Phone if you will not marry X this year(2012). If by the end of 2012, both parties are alive and no marriage has taken place, my obligation is

extinguished. Statement No. 2: “I will give you ₱10,000 if I decide to go to Cebu Ciy tomorrow. This obligation is valid. a) Both are true b) Both are false c) No. 1 is true; No. 2 is false d) No. 1 is false; No. 2 is true 13. Statement No. 1: If the obligation does not fix a period, but from it’s nature and the circumstances, it can be inferred that a period was intended, the court may fix the duration therof. Once it is fixed by the court the parties cannot change the fixed date for performance. Statement No. 2: “I will give you ₱10,000 if X dies next year.” This is an obligation with a period. a) Both are true. b) Both are false. c) No. 1 is true; No. 2 is false d) No. 1 is false; No. 2 is true 14. Which obligation is not valid? a) “I promise to give you ₱100,000 on December 25, 2012” b) “I promise to give you ₱100,000 if my mood dictates”. c) “I promise to give you ₱100,000 if your patient dies”. d) “I promise to give you ₱100,000 if you pass the May 2013 CPA Board Examination 15. Which of the following is an obligation with a period for the benefit of both the debtor and the creditor? a) Payable if i like b) Payable when you like c) Payable on or before December 25, 2012 d) Payable on December 24, 2012 16. Which of the following obligations is not subject to a period? a) Payable soonest b) Payable “little by little” c) Payable whenever “I like it” d) Payable “when my means permit me to” 17. A and B signed a promisory note o borrow ₱6,000 from X, Y, and Z, payable in 6 months time. B gave in pledge a ₱10,000 diamond ring as security for the amount borrowed. How much can Y collect from B? a) ₱1,000 b) ₱6,000 c) ₱2,000 d) ₱3,000

18. If in the situation given above, the diamond ring is returned by agreement to B, which of the following statement is correct? a) Principal obligation is extinguished b) Only ₱2,000 of the obligation is extinguished c) Only ₱3,000 of the obligation is extinguished d) Accessory obligation is extinguished. 19. A, Band C executed a promisory note worded as follows: We promise to pay X, Y and Z the sum of ₱90,000 (Sgd,) A, B and C a) A is obliged to pay to X, Y and Z ₱90,000 b) A is obliged to pay X ₱30,000 c) A is obliged to pay X ₱60,000 d) A is obliged to pay X ₱10,000 20. Statement No. 1: When the fulfillmentof the suspensive or resolutory condition depends upon the sole will of the debtor, the conditional obligation shall be void. Statement No. 2: If the original obligation is subject to a suspensive or resolutory condition and the contract is novated the new obligation shall be under the same conditions unless otherwise stipulated. a) Both are true b) Both are false c) No. 1 is true; No. 2 is false d) No. 1 is false; No. 2 is true 21. In contracts and quasi-contracts, the liability of the debtor who acted in good faith: a) Extends to all natural and probable consequences of the breach of the obligation, and which the parties have foreseen or could have reasonably foreseen at the time the obligaiton was constituted. b) Extends only to results intended but excluding exemplary damages c) Extends to all damages which may be reasonably attributable to the nonperformance of the obligation d) Extends to all damages which may be renounced in advanced 22. Statement No. 1: In solution indebiti, damages in case of non-compliance is the basis of liability. Statement No. 2: Negligence, as a ground for damages, refers to the nonperformance of an obligation with respect to time. a) Both statements are true b) Both statements are false c) Statement No. 1 is false while statement No. 2 is true d) Statement No. 1 is true while statement No. 2 is false

23. Debtor obliged himself to deliver to creditor 100 cavans of rice on June 1, 2012. On said date, D failed to make delivery despite repeated demands by C. In this case: a) C has no remedy under the law b) C can compel D to deliver 100 cavans of rice plus damages c) C may ask a third person to deliver 100 cavans of rice to him, the value recoverable from D plus dameges d) Convert obligation to cash. 24. D obliged himself to paint the house of C or to paint the picture of C in his house (SALA) in an standing position, using 10 by 10 canvass. Later, because of financial reverses, C sold his house to X. Which of the following statements is correct. a) The obligation of D is extinguished because he cannot make a choice b) D may just paint the picture of C c) D may cancel the contract and ask for damages d) Contract is voidable 25. The officious manager or gestor is liable for any fortuitous event in all of the following, EXCEPT: a) If he has undertaken risky operations which the owner was accustomed to embark upon. b) If he has preferred his own interest to that of the owner. c) If he fails to return the property or business after demand by the owner. d) If he assumed the management in bad faith. 26. Statement No.1: D obliges himself to give C a specific ring, upon failure, to give C ₱5,000. This is a case of facultative obligation. Staement No.2: d obliges himself to give C a specific ring. However, if he so desires, D may instead give C ₱5,000. This is an example of an obligation with a penal clause. Given these examples, which statement is correct? a) Both obligations are valid but both are mislabeled as to their classification as obligations b) Both obligations are not valid c) Both obligations are valid and are properly labeled as to their classification as obligations d) Both statements are invalid and improperly labeled as to their classification as obligations 27. A is obliged to give B his only car on September 2012. On the said date, A did not deliver. On September 2, 2012, an earthquake completely destroyed the car. Is A still liable? a) No. Considering that no demand to deliver was made by B and the specific thing was lost, due to fortuitous event, the obligation is extinguished. b) No. The obligation is extinguished, even if the debtor is already in default because the debtor can plead impossibility of performance. c) Yes. A is already in legal delay, thus the obligation to deliver the lost specific thing is converted into monetary claim for damages. d) Yes. The creditor can instead demand for a substitute of equivalent value from the debtor. 28. The distinction between period and condition is a) Period may or may not happen

b) c) d)

Condition will always happen Period may refer to a past event unknown to the parties Period is certain to happen unlike condition

29. The debtor shall lose every right to make use of the period except: a) When he does not furnish a guaranty or security of the creditor b) When after the obligation has been constituted he becomes insolvent, unless he gives a guaranty or security for the debts c) When the debtor attempts to abscond d) When the debtor violates any undertaking in considerations of which the creditor agreed to the period. 30. A owes B ₱100,000 due on December 12, 2012. A mortgaged his house to B as guaranty for the debt. Shortly, however, the mortgaged house was completely destroyed by typhoon “Nitang”. Therafter, B demanded payment from A on October 28, 2012. Is B’s demand valid? a) No. The obligation is one with a definite period, thus the creditor cannot demand fulfillment of the obligation as such would be prejudicial to the rights of the debtor. b) No. The obligation is extinguished because the object of the obligation is lost through a fortuitous event. c) Yes. The debt becomes due at once because the guaranty was lost even through a fortuitous event, unless the debtor can mortgage another property that is equally satisfactory. d) Yes. The debt becomes due at once because from the tenor of the obligation, the period established is for the benefit of the creditor solely thereby giving the creditor the right to demand performance even before the date stipulated. 31. The creditor is entitled to recover damges and interest in addition to the penalty stipulated: a) When the parties so agreed b) When the debtor refuses to pay the penalty c) When the debtor is guilty of fraud in the fulfillment of the obligation d) All of the above 32. “Vin Diesel will continue giving Tommy Lee the latter’s meal allowance until he finds a job”, is an obligation subject to: a) A resolutory period b) A suspensive condition c) A resolutory condition d) A suspensive period 33. D obliged to give C, either object No. 1 valued ₱15,000; or object No. 2 valued ₱10,000; or object No. 3 valued ₱5,000. All the objects were lost due to D’s fault in the following order stated. a) D’s obligation is extinguished b) D’s obligation is to pay the value of object No. 1 plus damages c) C’s right is to demand the value of any of the object plus damages

d)

Pay ₱5,000 plus damages

34. In question No. 30 if object No. 1 is lost due to fortuitous event; No. 2 is lost due to debtor’s fault; No. 3 is subsisting; a) The right of C is to demand the value of object No. 2 plus damages b) C has no right because he did not communicate what object the debtor will deliver c) The obligation of D is to deliver object No. 3 d) D’s obligation is totally extinguished 35. A1, A2, and A3 oblige themselves solidarily to give C a specific car valued ₱12,000. On the due date, C demanded delivery but the debtors failed to deliver. The next day, while A1 is still in possession of the car, it got lost due to fortuitous event. The right of C is a) None, obligation is totally extinguished b) Proceed against any of the debtors for the value and damages c) Proceed against A1 only, because he is the one is possession at the time it was lost d) Proceed against A2 or A3 but only ₱4,000 each 36. I will give you a specific car if you will not marry X this year, C.Y. Which of the following statements is incorrect? a) If on December 25, X died and no marriage took place, my obligation becomes effective (not extinguished) because the expected event cannot occur anymore b) If on December 25 you marry X, my obligation is extinguished because you violated the condition c) If the year has ended, and no marriage took place, both parties are still alive, my obligation becomes effective (not extinguished) because the time indicated has already elapsed d) If on December 25, X entered the convent, the obligation can be demanded immediately because it is clear that the marriage will not take place anymore. 37. D obliged himself to give C a specific car if the latter cannot make a circle that is at the same time a square. a) The obligation is impossible, therefore void. b) The obligation is void because the condition is outside the commerce of man. c) D cannot be obliged to deliver at all d) Valid and enforceable 38. Statement No. 1: In alternative obligations, all the objects promise by the debtor to the creditor are all due. Statement No. 2: In facultative obligations, there are two objects due but the obligor can deliver one thing due and the obligation is extinguished. a) No. 1 is true; No. 2 is false b) No. 1 is false; No. 2 is true c) Both are true d) Both are false

39. A-1 and A-2 are solidary debtors of B-1, B-2 and B-3, joint creditors in the amount of ₱90,000. How much can B-3 collect from A-2? a) B-3 could collect ₱30,000 from A-2 b) B-3 could collect ₱90,000 from A-2 and give ₱30,000, each to B-1 and B-2 c) B-3 could collect ₱45,000 from A-2 and give ₱13,000, each to B-1 and B-2 d) B-3 could collect ₱15,000 from A-2 and ₱13,000 from A-1 40. Statement No. 1: A solidary creditor can assign his rights even without the consent of the other creditors. Statement No. 2: In an obligation that is impossible of division, the debt can be enforced only by proceeding against all the debtors. If one of the debtors should be insolvent, the other shall not liable for his share. a) Both are true b) Both are false c) No. 1 is true; No. 2 is false d) No. 1 is false; No. 2 is true 41. Statement No.1: Legal, compensation takes place by operation of law even if the parties may be aware of it. Statement No.2: The indivisibility of an obligation necessarily implies solidarity. a) Both statements are true b) Both statement are false c) Statement No.1 is true while statement No. 2 is false d) Statement No. 1 is false while statement No. 2 is true 42. Example No. 1: D owes C ₱10,000 due on December 25. C owes D ₱6,000 due on December 25. D’s obligation is guaranteed by G. On the due date D is insolvent. G is liable to C for ₱10,000, he(G) cannot set up compensation because he is not a principle debtor. Example No. 2: D owes C ₱10,000 payable on December 25. Later d through intimidation, was able to make C sign a promissory note stating that C is indebted to D for the same amount. In here, D cannot be required to pay C ₱10,000 because he (D) can set up compensation against C. a) Both examples are true b) Both are false c) Only No. 1 is true; No.2 is false d) Only No.1 is false; No.2 is true 43. Obligaiton may be modified by: a) Changing their object or principal conditions b) Substituting the person of the debtor. c) Subrogating a third person in the rights of the creditor d) All of the above

44. Which of the following is not a special mode of payment? a) Dacion en pago b) Payment by cession c) Tender of payment d) Consignation alone without the need of tender payment in cases provided for by the law 45. A and B are solidary debtors of X and Y, solidary creditors to the amount of ₱4,000. On the due date with the consent of Y, X renounced in favor of A the entire obligation. Which of the following is correct? a) B shall give A ₱2,000 b) Y can still collect from A or B ₱2,000 c) Y can collect from X ₱2,000 d) X has no obligation to reimburse Y any amount 46. The act of abandoning all his properties in favor of his creditors so that the latter may cause their sale and apply the proceeds thereof to their claims proportionally is called: a) Dacion en pago b) Set off c) Payment by cession d) Tender of payment with consignation 47. A and B are the debtors and X and Y are the creditors in a solidary obligation to the tune of ₱80,000. On due date, X renounced in favor of A the entire obligation which was validly accepted by A. Which of the following is true? a) B shall give ₱40,000 to A b) Y can collect from X ₱40,000 c) Y can still collect from A or B the d) A can collect ₱40,000 from B 48. The following except one, are requisites of payment as a mode of extinguishng an ordinary obligation. Which is the exception? a) Complete or full payment b) Payment in due course when the obligation is due and demandable c) Payment using negotiable instrument d) Payment using legal tender, except if payable in foreign currency 49. Proof of pecuniary loss is necessary for the award of: a) Liquidated damages b) Exemplary damages c) Actual damages d) Temperate damages 50. All are secondary modes of extinguishing on obligation except one: a) Compromise

b) Illegality c) Impossibility d) Performance CONTRACTS 1. By this principle, the validity and efficacy of the contract cannot be left to the will of one of the contracting parties. a. Relativity of contract b. Obligatoriness of contract c. Mutuality of contract d. Freedom of contract 2. This principle means that contracts take effect only upon the contracting parties, their assigns or succesors-in-interest a. Relativity of contract b. Obligatoriness of contract c. Mutuality of contract d. Freedom of contract 3. B forced S to sell him (B) a masterpiece painting for 1M. Subseuently, B sold it to X for 2M, a good faith purchaser. S is entitled to a. Rescind the contract with B plus damages b. Recover the painting from X but no damages c. Recover damages from B d. Annul the contract plus damages 4. The following contracts should obseve the Statute of Frauds, except: a. Guaranty b. Lease of personal property longer than one year c. Representation as to the credit of a third person d. Lease of real property longer than one year 5. On July 15, 2014, X entered into a contract with Y. On February 10, 2015, X discovered that fraud was committed at the time he entered. Remedy of X is to annul when? a. Within three years from the time of the fraud b. Within four years from February 10, 2015 c. Within four years from the time A entered into the contract d. On February 10, 2015 6. Consent is manifestated by the meeting of the offer and the acceptance upon the thing and the cause which are to constitute the contract. Which of the following constitutes a definite order? a. An offer made through and agent b. Business advertisement of things for sale c. Advertisement for bidders d. All of the above 7. An agreement in restraint of trade a. Perfectly valid b. Voidable c. Unenforceable d. Void 8. Rescission of contract can take place in this case:

a. When the things, which are the object of the contract, are legally in the possession of third persons who acted in good faith b. When he demands rescission can return whatever he may be obliged to restor...