Reference no: EM133935878
Questions
1. A assigns his hereditary rights to B. What warranty does A give to B?
a. That he will inherit properties.
b. That he is a legitimate heir.
c. Both of the above choices
d. Neither of the above choices
2. Which describes the prescriptive period for conventional redemption?
a. It must be exercised within 1 year from registration of the sale
b. It must be exercised within 5 years from the conveyance by the widow or heir of the homestead owner
c. If with stipulation of the parties, same maximum period as with co-ownership
d. If without stipulation of the parties, within 4 years from the death of the vendee a retro
3. Finn authorized Jake to sell his land but no written authority was given. Jake was able to sell the land to Princess Bubblegum. The sale by Jake is: (A) valid (B) voidable (C) void (D) rescissible
a. valid
b. void
c. voidable
d. rescissible
4. D owes C P1,000.00, with G as guarantor. C assigns his credit to T with notice given to D. In case D fails to pay T, may T enforce the guaranty of G?
a. Yes
b. No
5. What is the remedy if the contract purports to be a pacto de retro sale when in fact it is an equitable mortgage? (A) reformation (B) rescission (C) specific performance (D) damages
a. Reformation
b. Rescission
c. Specific performance
d. Damages
6. A, being the agent of B and acting under B's authority, was able to sell B's cellphone in A's own name. Which is legally correct?
a. A is liable for the sale.
b. B is a disclosed principal.
c. Both of the above choices
d. Neither of the above choices
7. It is a stipulation giving power to the creditor to automatically appropriate the thing given as security, if the principal obligation is not fulfilled, without any formality such as foreclosure proceeding. It is void and is what is avoided by reason of which a contract purporting to be a pacto de retro sale is construed as an equitable mortgage:
a. Policitation
b. Attornment by bailee
c. Reformation
d. Caveat emptor
e. Pactum commissorium
8. If in the immediately preceding question, C did not give notice of the assignment to D, but D has actual knowledge of the assignment. If D pays C, is the payment valid as to A?
a. Yes
b. No
9. S sold to B his land with right to repurchase. Before he could exercise his right, he died, leaving behind X & Y as his only heirs. May X and Y exercise S's right to repurchase?
a. Yes
b. No
10. X gave to Y a Special Power of Attorney to sell Y's land. The authority of X is:
a. Express
b. Implied
c. Apparent / ostensible
d. By operation of law
11. Which is NOT to be paid by the principal to the agent?
a. advanced funds
b. indemnity for damages suffered due to agency
c. expenses stipulated to be paid by the agent
d. interest for amounts paid by the agent
12. D borrowed P1M from C. C assigned his credit to A. Does C need D's consent for the assignment to be valid?
a. Yes
b. No
13. Is there a right of legal redemption in sales of credit in litigation?
a. Yes, absolutely.
b. Yes, except as against a co-owner, creditor or possessor of the tenement.
c. No, this right is not available.
14. In the assignment of his credit to A, what warranties does C make to A?
a. That D will pay his debt
b. That D's debt is valid and existing
c. Both of the above choices
d. Neither of the above choices
15. R sold T's pair of shoes without T's authority but with T's knowledge and without his opposition before the sale. Which is legally correct?
a. There is agency formed by estoppel.
b. There is no agency.
c. There is express agency.
16. If an agent, acting beyond authority, makes misrepresentations, is the principal liable?
a. Absolutely not.
b. Yes, at all times.
c. No, since the agent is in estoppel.
d. Yes, if the principal receives benefits from the misrepresentations.
17. P gave A a special power of attorney with an added stipulation exempting A from the obligation to render an account. Which is void?
a. the contract of agency
b. the stipulation exempting A
c. both of the foregoing
d. neither of the first 2 choices
18. Ana gave Ben P10,000. Ben used the money as down payment to obtain equipment necessary for Ben's business from Cris. If Ben fails to pay the balance, can Cris recover from Ana?
a. Yes, there is a contract of agency.
b. No, there is no contract of agency.
19. Jose owns a sari-sari store. One day, while drinking milk tea, Jose fainted and bumped his head on the floor. He was rushed to the hospital and was in comatose for one month. While he was in a coma, Wally managed the sari-sari store. Is there a contract of agency?
a. Yes, there is a contract of agency.
b. No, there is no contract of agency.
20. Ava owes Connor P10,000. Connor assigns his credit right to Bree for a consideration with notice to Ava. Which is NOT true?
a. Connor is the assignor
b. Bree is the assignee
c. Ava's new creditor is Bree
d. Connor warrants Ava's solvency to Bree
21. P gave a general power of attorney to A for the latter to convey all of his cars. P later gave X a special power of attorney to sell P's Lamborghini. What is the effect of X's SPA on A's GPA?
a. A's authority is totally revoked.
b. X may convey all of P's cars.
c. A may still sell P's Lamborghini.
d. All of the above choices.
e. None of the above choices.
22. Anton was allowed by his father to use the latter's land and to make improvements on it. He was also authorized to get profits from the improvements he made. One day, Anton bought certain materials needed for the improvement. Is the father liable for the payment of the materials purchased?
a. Yes, there is a contract of agency.
b. No, there is no contract of agency.