Oblicon Examaminations with answer key PDF

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The creditor has a right that is enforceable against a definite passive subject PERSONAL RIGHT It is a thing that is particularly designated or physically segregated from all others of the same class. DETERMINATE THING Determinate thing A TOYOTA CAR WITH ENGINE NO. 12345, BODY NO AND A PLATE NO. ABC...

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1. The creditor has a right that is enforceable against a definite passive subject PERSONAL RIGHT 2. It is a thing that is particularly designated or physically segregated from all others of the same class. DETERMINATE THING 3. Determinate thing A TOYOTA CAR WITH ENGINE NO. 12345, BODY NO.34890 AND A PLATE NO. ABC 123 4. Demand must be made on the due date of the obligation in order for delay to exist in one the following cases WHEN THE OBLIGATION DOES NOT INDICATE WHETHER DEMAND MUST BE MADDE OR NOT ON DUE DATE. 5. Delay on the part of the creditor MORA ACCIPIENDI 6. There shall be no liability for loss due to fortuitous events WHEN THE OBLIGATION IS TO DELIVER A DETERMINATE THING AND THERE WAS NO STIPULATION AS TO THE LIABILITY OF THE DEBTOR IN CAS OF LOSS DUE TO FORTUITOUS EVENTS 7. Following are the remedies of the creditor to pursue his claims against the debtor. COMPEL THE DEBTOR TO PERFORM THE SERVICE IN OBLIGATIONS TO DO 8. D borrowed P50,000.00 from C. C dies before he has collected the debt leaving S, his son, as heir. Which of the following are CORRECT? S CAN COLLECT FROM D ALTHOUGH D AND C DID NOT AGREE THAT THE CREDIT RIGHT WILL PASS ON TO THEIR HEIRS OF C 9. D is obliged to give C a specific car if C passes the CPA Licensure Examination. OBLIGATION WITH A SUSPENSIVE CONDITION 10. Obligation is not immediately demandable OBLIGATION WITH AN EX DIE PERIOD 11. Void Obligation D IS OBLIGED TO GIVE C P5,000.00 IF D GOES TO BAGUIO 12. D is obliged to give C P10,000.00 if X dies AN OBLIGATION WITH A PERIOD 13. When the debtors binds himself to pay when his means permit him to do so AN OBLIGATION WITH A SUSPENSIVE PERIOD 14. Whenever a period is designated in an obligation, the said period shall be presumed to have been established for the benefit of BOTH THE DEBTOE AND THE CREDITOR 15. The debtor shall lose the right to make use of the period in the following cases, EXCEPT? WHEN HE DOES NOT FURNISH ANY GUARANTY OR SECURITY TO THE CREDITOR 16. An obligation ceases to be alternative and becomes a simple obligation EXCEPT? WHEN THREE PRESTATION ARE DUE BUT ONE OF THEM IS UNLAWFUL OR IMPOSSIBLE 17. D is obliged to give C a specific watch, specific ring, or a specific bracelet. The parties agreed that C will have the right to choose the thing which will be given to him. Before C could make his choice, the watch and the ring are lost through D’s fault, successively. What is the right of C? C MAY CHOOSE THE DELIVERY TO HIM OF THE BRACELET, OR THE PRICE OF THE WATCH OR THE PRICE OF THE RING PLUS DAMAGES 18. D is obliged to give a specific ring. The parties agreed that D may give a specific bracelet as substitute. Which statement is TRUE? IF THE RING IS LOST THROUGH A FORTUITOUS EVENT BEFORE SUBSTITUTION, THE OBLIGATION IS EXTINGUISHED. 19. A, B, C and D are obliged to give V, W, X, Y and Z P20,000.00 V MAY COLLECT FROM A P1,000.00 20. A, B, C and D joint debtors are obliged to give V, W, X, Y and Z, solidary creditors P20,000.00 V MAY COLLECT FROM B P5,000.00 21. A, B, C and D solidary debtors are obliged to give V, W, X, Y and Z, joint creditors P20,000.00 V MAY COLLECT FROM C P 4,000.00 22. A, B, C and D solidary debtors are obliged to give V, W, X, Y and Z, solidary creditors P20,000.00 V MAY COLLECT FROM D P20,000.00 23. A, 25, B, 35, and C, 17, are solidary debtors of X in the amount of P9,000.00 X MAY COLLECT FROM A P6,000.00 24. Divisible obligation EXCEPT TO GIVE DEFINITE THINGS 25. In an obligation with a penal clause, the creditor as a rule may recover from the debtor in case of breach ONLY THE PENALTY 26. STATEMENT I: The nullity of the principal obligation carries with it the nullity of the penal clause -TRUE STATEMENT II: The nullity od the penal clause carries with it the nullity of the principal obligation – TRUE 27. D borrowed C P 50,000.00. The obligations is secured by a chattel mortgage on D’s Toyota car. Subsequently, D paid C P20,000.00. Unknown to D, T a third person pays C P 50,000.00 believing that D still owed C such amount. T CAN RECOVER P 30,000.00 FROM D. IF D CANNOT PAY, T CANNOT FORECLOSE THE MORTGAGE ON D’s TOYOTA CAR 28. Concerning payment by cession EXCEPT ONE THE CREDITORS BCOME THE OWNERS OF THE PROPERTOIES OF THE DEBTOR THAT WERE CEDED TO THEM 29. D obtained from ABC Bank a loan of P 12,000,000.00 payable at the end of 10 years. Before maturity, an extraordinary inflation supervened causing the value of the debt to fall P 4,000,000.00 on the date of the maturity. On due date, D must pay ABC Bank P36,000,000

30. B borrowed from XYZ Bank P 2,000,000.00 payable at the end of 5 years. Before maturity an extraordinary deflation supervened causing the value of the debt to rise to P 5,000,000.00 on the due date of maturity. On the due date, D must pay ABC bank: P 800,000.00 31. The money or currency which the debtor may compel the creditor to accept the payment of a debt, whether public or private LEGAL TENDER 32. The delivery and transmission of ownership of a thing by the debtor to the creditor as an accepted equivalent of performance DATION IN PAYMENT 33. D owes C the following debts: P 6,000.00 due on 12; P 6,000.00 due on June 15; P 6,000.00 due on June 18; and P 6,000.00 due on June 20. All debts are unsecured except the debt due on June 20which is secured by a pledge of D’s diamond ring to C. By agreement, the benefit of the term on the 4 debts was granted to C. Assuming that D has P 6,000.00 on June 18 and is ready to pay C, which of the following statement is CORRECT? D MAY APPLY HIS PAYMENT OF P 6,000.00 TO ANY OF THE DEBTS DUE ON JUNE 12, JUNE 15 AND JUNE 18 SINCE THEY ARE ALL DUE AS OF JUNE 18 34. The offer made by the debtor to pay his obligation to his creditor TENDER OF PAYMENT 35. Consignation alone without any tender of payment is sufficient in the following cases, EXCEPT WHEN THE CREDITOR PRESENTS THE TITLE TO THE OBLIGATION FOR COLLECTION 36. M owes P 10,000.00. The obligation is evidence by a promissory note. Subsequently, P assigned the note to A, A to B, B to C, and C back to M. The obligation is extinguished by: CONFUSION 37. In order that condonation may extinguish an obligation involving a movable properly whose value exceeds P 5,000.00 IT IS SUFFICIENT THAT THE CONDONATION AND THE ACCEPTANCE ARE IN WRITING, EVEN A PRIVATE ONE. 38. Not requisites of legal compensation? THAT THE DEBTS ARE PAYABLE AT THE SAME PLACE 39. Henry, husband, and Wilma, wife, are legally separated. By order of the court whi ch decreed the legal separation, Henry is obliged to give a monthly support of P 10,000.00 to Wilma payable within the first five days of the month. Wilma owes Henry P 10,000.00 by way of a business loan. On the other hand, henry has not yet given Wilma’s support of P 10,000.00 for this month. Both debts are already due. Which statement is CORRECT? WILMA MAY CLAIM COMPENSATION BUT NOT IN HENRY. 40. D owes C P 10,000.00 with F as guarantor. C on the other hand, owes D, P8,000.00. Both debts are already due but D is Insolvent. C MAY COLLECT FROM G P 2,000.00 BECAUSE A GUARANTOR CAN SET UP COMPENSATION AS REGARDS WHAT THE CREDITOR OWES THE PRINCIPAL DEBTOR 41. D borrowed P 50,000.00 from C. Subsequently, D proposed to C that T would assume his (D’s) debt. C accepted the proposal of D. DELEGACION 42. Refer to recent situation. Assume also that on due date, T could not pay because of his insolvency which was in fact subsisting but was not known for D or of public knowledge at the time that D delegated his debt. C CANNOT HOLD D LIABLE BECAUSE HIS (D’s) OBLIGATION WAS EXTINGUISHED WHEN HE WAS SUBSTITUTED BY T. 43. D obliged himself to give 5 grams of “shabu” to C. Later, the parties agreed that D would instead give to C 5 sacks of rice. Which statement is CORRECT? THE NOVATION IS VOID BECAUSE THE ORIGINAL OBLIGATION IS VOID. HENCE, C CANNOT DEMAND THE DELIVERY OF FIVE SACKS OF RICE FROM D. 44. On July1, 2015, D obliged himself to give C P 50,000.00 if C will marry X on or before December 31,2015. The condition of the obligation is POSITIVE CONDITION 45. Refer to No 44. Statement I: The obligation of D is demandable if C marries X on or before December 31, 2015 – TRUE Statement II: The obligation of D is extinguished if its already January 01, 2016 and C has not yet married X – TRUE Statement III: The obligation of D is extinguished on December 2, 2015 if X dies on the said date and C has not yet married X -TRUE Statement IV: The obligation is demandable if C marries X on January 01, 2016 – FALSE 46. On July 01,2015, D obliged himself to give C a specific car if C will not marry X on or before December 31,2015. The condition of the obligation is NEGATIVE CONDITION 47. Refer to No. 46. Refer to No 44. Statement I: The obligation of D is demandable if C marries X on January 01, 2016 – TRUE Statement II The obligation of D is demandable on December 2, 2015 if X dies on the said date and D has not yet married X– TRUE Statement III: The obligation of D is demandable if it is already January 01, 2016 and D has not yet married X -TRUE Statement IV: The obligation is demandable if C marries X on December 2, 2015 – FALSE 48. D owes C P 5,000.00. T a third person and without any intention to be reimbursed by D, paid the debt without the consent of D. C accepted the payment. THE PAYMENT IS CONSIDERED VALID BECAUSE IT WAS ACCEPTED BY THE CREDITOR. 49. A mode of extinguishing obligations up to their concurrent amount when two persons are principal debtors and creditors of each other COMPENSATION 50. D owes C P 6,000.00. No date for payment was stipulated by the parties C CAN REQUIRE D TO PAY AT ANYTIME 51. Under a contract executed on November 01, 2015, D obliged himself to give a specific horse to C on December 10,2015, C demanded the delivery of the horse but D did not comply. The following day, the horse was struck by lightning and died instantly. THE OBLIGATION OF D IS EXTINGUISHED BECAUSE THE LOSS IS DUE TO FORTUITOUS EVENT AND D WAS NOT IN DEFAULT

52. Not Conditional Obligation D TO PAY C P 5,000.00 AS SOON AS D HAS THE MEANS 53. Distinction between merger and compensation is that merger: THE DEBTOR AND THE CREDITOR REFER TO ONLY ONE PERSON. 54. The passage of time as a mode of acquiring or losing a right including the extinguishment of an obligation PRESCRIPTION 55. Legal compensation shall not be proper in three of the following cases EXCEPTION? BANK DEPOSIT 56. D is a debtor of C for P 20,000.00. The debt is secured by a pledge of D’s diamond ring which is in C’s possession. Before the due date, C voluntarily returned the diamond ring to D. Which was extinguished by the return of the ring? THE PLEDGE OF THE DIAMOND RING ONLY 57. D promised to deliver specific horse to C on December 31, 2015, with the stipulation that he will give C 100 grams of ‘shabu’ as a penalty if he fails to deliver the horse on the said date. Which obligation is VOID? THE PENALTY ONLY 58. If two or more persons claims the same right to collect from debtor, the debtor’s appropriate remedy: CONSIGNATION 59. The young and other products of animals, produces with the intervention of human labor NATURAL FRUITS 60. D owes C the following debts: P 4,000.00 due on February 01; P 7,000.00 due on February 05; P 5,000.00 due on February 10 and P4,000.00 due on February 20. By agreements of the parties, the benefit of the period was given to D. If today is February 14, and D has not paid any of the said debts but is offering P 4,000.00 to C as payment today, to which debt may D apply the payment? TO THE DEBT DUE ON FEBRUARY 1 OR FEBRUARY 20 AT HIS OPTION 61. Refer to preceding No. Supposing that when d gave the payment to C, D did not designate the debt to which the payment shall apply. Neither did C indicate in the receipt that he issued to D which debt was being paid. Which debt is being paid. TO THE DEBTS DUE ON FEBRUARY 1, FEBRUARY 5 AND FEBRUARY 10 PROPORTIONATELY AT P10,000.00, P1,750.00 AND P1,250.00 RESPECTIVELY 62. It is a mode of extinguishing of an obligation which has a two-fold function. One is to extinguishing an old obligation and the other to substitute a new in its place NOVATION 63. A, B and C are solidarily indebted to X for P 9,000.00. X is indebted to A for P 9,000.00. Both debts are due THERE IS A LEGAL COMPENSATION UP TO P9,000.00 64. Refer to the same facts except that the debtors are jointly liable to X. As a result, which statement is INCORRECT? THERE IS NO LEGAL COMPENSATION AT ALL 65. Concerning legal compensation Legal compensation cannot take place if the debts have different due dates - FALSE Legal Compensation may take place although the debts are payable at different places- TRUE 66. The absence of the stipulation on liability in case for fortuitous event is generally to the advantage of the DEBTOR 67. A stipulation that demand shall not be required in order to make the debtor in delay is generally to the advantage of the: DEBTOR 68. D borrowed P500,000.00 from C payable at the end of five years. Due to supervening extraordinary inflation, the value of the dedbt fell to P250,000.00 on the date of maturity. How much must D pay C on the date of maturity? P250,000.00 69. An obligation cannot exist without a contract - FALSE A contract can exist without an obligation- FALSE 70. Obligations are immediately demandable EXCEPT OBLIGATION WITH A CONDITION ANTECENDENT 71. When a third person pays the creditor without intending to be reimbursed and the debtor did not give his consent to the donation: THE PAYMENT IS VALID AS TO THE CREDITOR WHO ACCEPTED IT 72. D owes C P30,000.00 due on April 01, 2015. C owes D P30,000.00 due on March 15, 2015. What kind of compensation may possibly take place today is February 14, 2015. VOLUNTARILY 73. D owes C P20,000.00 payable on or before March 31, 2015. C is obliged to pay D P20,000.00 on March 15, 2015. As a result, which statement is INCORRECT? C MAY CLAIM COMPENSATION ON MARCH 15,2015 74. Consignation, without any tender of payment, will release the debtor from liability in the following case EXCEPT THE CREDITOR IS CAPACITATED TO RECEIVE PAYMENT 75. D borrowed P 10,000.00 C. On due date, C was already insane. Nonetheless, D gave C P10,000.00 to settle the debt. When C’s guardian learned of the payment made by D, C was found to have only P3,000.00 left in his wallet and that he had lost P1,500.00in a gambling game and used P 5,000.00 to by his food. PAYMENT IS VALID ONLY UP TO P8,500.00 76. Not a feature of dacion en pago THE DEDBTOR MUST BE INSOLVENT 77. Not a feature of payment by cession THE DEBTOR IS TOTALLY RELEASED FROM HIS LIABILITIES

78. Statement concerning facultative obligation is CORRECT? THE RIGHT TO MAKE THE SUBSTITUTION BELONGS TO THE DEBTOR ONLY 79. D is indebted to C for P100,000.00. Which is already due. D offers to give a certified check to C to settle the debt IF C REFUSES TO ACCEPT THE CHECK, D MAY REPLACE THE CHECK WITH 5,000 PIECES OF P20.00 BILL AND IF C REFUSE TO ACCEPT IT , D MAY CONSIGN THE PAYMENT 80. The waiver of an action for fraud is valid in the case of PAST FRAUD 81. D borrowed P50,000.00 from C. On due date, D offered to give his ring, his bracelet or his necklace in payment of the deft of five days from the due date of the original obligation. C accepted the offer. Two days before the new due date, D’s ring was lost through his fault. D IS NOT OBLIGED TO PAY DAMAGED TO C FOR THE LOSS OF THE RING DUE TO HIS FAULT 82. Statement are presented: Statement I: A quasi contract is an implied contract - FALSE Statement II: There is no delay in obligations not to do.- TRUE 83. Statement are presented: Statement I: Payment is still possible when two persons are debtors and creditors of each other.- TRUE Statement II: payment is impossible when a person is both the debtor and the creditor of the same obligation- TRUE 84. D obtained loan of P1,000,000.00 from C. The debt, which is due on December 31, 2015, is secured by chattel mortgaged of D’s brand new Toyota Innova van. On June 1, 2015, the van was swept away by flood waters at the height of Typhoon Olga and could no longer be found D’S OBLIGATION P1,000,000.00 BECAME DEMANDABLE ON JUNE 01, 2015, UNLESS HE GIVES ANOTHER SECURITY. 85. On January 01, 2015, D borrowed P500,000.00 from C with interest at 10% per annum. The loan obligation the interest are due on December 31, 2015. D MAY COMPEL C TO ACCEPT PAYMENT BEFORE DECCEMBER 31, 2015- INCORRECT C MAY COMPEL D TO MAKE PAYMENT BEFORE DECEMBER 31, 2015 -INCORRECT 86. Refer to the facts in preceding number. Assuming that on due date, D has only P500,000.00 and he offers this amount to C who is willing to accept it as partial payment. THE PAYMENT SHALL BE APPLIED FIRST TO THE INTEREST AT P50,000.00. THA BALANCE OF P450,000.00 SHALL BE APPLIED TO THE PRINCIPAL; HENCE, D STILL OWES C P50,000.00FOR THE RPINCIPAL WHICH WILL CONTINUE TO BEAR INTEREST 87. D obliged himself to give P50,000.00 to C if C does not fly to the moon. THE OBLIGATION IS IMMEDIATELY DEMANDABLE 88. A, B and C are liable individual and collectively to X in the amount of P30,000.00. On due date, X demanded payment from A. However, C is insolvent X MAY COLLECT P30,000.00 FROM EITHER A AND B 89. Delia obtained a loan of P50,000.00 from Corazon payable on January 31. On January 25, Delia offered to deliver her diamond ring of the same value on January 31 to Corazon to settle the debt. Corazon accepted the offer on the same dat. Thus, on January 31, Delia delivered her diamond ring to Corazon. Which statement is INCORRECT? DELIA’S LOAN OBLIGATION OD P50,000.00 WAS EXTINGUISHED ON JANUARY 31 WHEN SHE DELIVERED HER DIAMAOND RING TO CORAZON. 90. A, B and C are indebted to W, X, Y and Z in the amount of P24,000.00. In this case: W CAN COLLECT P2,000.00 EACH FROM A, B AND C. THEN HE NEED NOT GIVE ANY AMOUNT TO X, Y AND Z 91. The principal of negotorium gestio does not apply: WHEN THE PROPERTY OR BUSINESS IS NOT NEGLECTED OR ABANDONED – DOESN’T WHEN THE OFFICUOUS MANAGER HAS BEAN TACITLY AUTHORIZED BY THE OWNER- DOESNT 92. Statement are presented: Statement I: There is no delay in obligations not to do. -FALSE Statement II: Delay is applicable only to the debtor never to the creditor. - TRUE 93. The obligation of a school to provide its student a safe and secure environment and an atmosphere conducing to learning is an obligation arising from: CONTRACT 94. When the debtors bind himself to pay as soon as he has the means: THE OBLIGATION IS VALID, BUT THE CREDITOR MUST GO TO AND ASK THE COURT TO FIX THE PERIOD FOR THE PAYMENT OF THE OBLIGATION 95. M makes an interest-bearing promissory note amounting to P100,000.00 payable to the order of P. The back of the promissory notes contains the following indorsements: P to A, A to B, B to C and C to H who is now in possession of the note. On due date, H goes to the office of M to collect but he finds R who is trying to collect the amount on the note based on a power of attorney supposedly executed in his favor by C. M is now confused on whom to pay. He is worried that the interest will keep on accruing if he does not pay. If you were in the position of M, the safest thing that you will do is: GO TO COURT AND DEPOSIT THE PAYMENT BY WAY OF CONSIGNATION 96. M obtained a loan of P50,000.00 from P. The loan is evidenced by promissory note executed by M with G signing as a guarantor of the debt. P assigns the note to A, A to B, B to C and C to G. The assignment of the note to G extinguished: ONLY THE GUARANTY

97. D borrowed P200,000.00 from C. The debt is payable after 6 months and is secured by a chattel mortgaged on D’s growing crops. A month before due date, the crops were completely destroyed by Typhoon Ondoy C MAY NOW DEMAND IMMEDIATE PAYMENT OF THE LOAN UNLESS D FURNISHES ANOTHEER SECURITY 98. Void Obligation D TO GIVE C P50,000.00 IF D WINS IN THE SWEEPTAKES D HAS NOT YET BOUGHT THE SWEEPTAKES TICKET 99. D owes C the following debts: P3,000.00 due on July 1, P5,000.00 due on July 6, P2,000.00 due on July 15 and P2,000.00 due on July 25. If today is July 22 and D gives P2,000.00 to C but neither nor C indicated the debts to which the payment shall be applied to TO THE DEBTS DUE ON JULY 1, JULY 6, AND JULY 15 PROPORTIONATELY AT P600.00, P1,000.00 AND P400.00 RESPECTIVELY. 100. Legal compensation will not take place if: THERE IS CONTROVERSY OR RETENTION INVOLVING ONE OF COMMUNICATED COMMENCED BY THIRD PERSON AND COMMUNICATED IN DUE TIME TO THE DEBTOR. 101. D ...