Business Noeme
Business Noeme
Business Noeme
2. “I will give you my car provided that if I like to have it back, you
will return the same to me.”
a. The obligation is void, because the fulfillment depends upon
the will of the debtor.
b. The obligation is void, because the fulfillment depends upon
the will of the creditor.
c. The obligation is valid because the condition merely causes the loss of rights already
acquired.
d. Both A and B.
21. Sister offered his car to Brother for P1M and giving the
latter one week to decide. Brother in turn gave Sister P1,000. In
this case, there is
a. Contract of sale of the car with the P1,000 as earnest money
b. Contract of option with the P1,000 as option money
c. Contract to sell of the car at B’s option
d. Contract to sell of the car at S’s option
23. The contract entered into by the persons who cannot give
consent is
a. Void ab initio because actually there is no consent
b. Unenforceable only because the contract may be ratified
c. Rescissible because of the damage caused to the person
incapacitated
d. Voidable as there is consent although vitiated or defective
27. Aguilar sold to Beddie his dog with the agreement that
delivery shall be after one week from sale and the payment of
the price after two weeks from delivery. If the dog shall produce
offspring, it shall belong to:
a. If produced before the sale, it shall pertain to the seller
b. If the puppy shall exist before the actual delivery, it shall
pertain to the seller
c. The fruits that shall exist after delivery will only be the ones
to pertain to the buyer
d. The fruits after the sale but before delivery shall pertain to
the buyer if so stipulated by the parties to the sale
28. A sold B’s car in B’s name to C without any authority from
B. The contract of sale is
a. Rescissible b. Voidable c. Unenforceable
d. Void
29. With written authority from his principal, the agent sold
verbally the land of the principal. The sale is
a. Rescissible b. voidable c. unenforceable
d. Void
a.) 2/3 votes of the Board of Directors and 2/3 votes of the
outstanding capital stockanding capital stock b) Majority votes
of the Board of Directors and 2/3 votes of the outstanding
capital stock c) 2/3 votes of the Board of Directors and majority
vote
b.) Majority votes of the Board of Directors and majority
votes of the outstanding capital stock
c.) 2/3 votes of the Board of Directors and majority votes of the
outstanding capital stock
d.) Majority votes of the Board of Directors and 2/3 votes of the
outstanding capital stock
62.) Ondoy pledged his motor bike to Peping for P5,000.00. When
Ondoy failed to pay his obligation, Peping sold the motor bike at
public auction to the highest bidder for P4,000.00. Therefore:
c.) Not only the parties, but their heirs and assigns are bound
by their contract.
d.) Generally, the debtor is not liable for the non-performance of his
obligation due to fortuitous event.
67. Dan mortgaged his house and lot to Casey to secure his loan
amounting to P1M. It is stipulated that Dan cannot sell his house and
lot without the consent of Casey while the loan remains unpaid.
Before the maturity date, Ben offered to buy the house and lot of Dan
for P1.6M. In this scenario:
a.) Dan cannot sell his house and lot because of the prohibition in
the contract.
b.) Dan cannot sell his house and lot without the consent of Casey.
c.) Dan can sell his house and lot provided he pays the loan to
Casey.
d.) Dan can sell his house and lot despite the prohibition in
the contract.
68. Toto sold the car of Popo without authority. When the buyer
Momo demanded for the key of the car from Popo, after paying the
purchase price, Popo gave the key of his car to the Momo. The sale
made by Popo to Momo is valid while an agency between Popo and
Toto is created by:
a.) estoppel
b.) contract
c.) operation of law
d.) ratification
70. Ann mortgaged his house to Boy to secure his loan amounting to
P1,500,000.00. Due to the negligence of the typist, the document
signed by Ann and Boy shows that the house of Ann was sold to Boy
for P1,050,000.00 only. Which of the following statements is correct?
a.) The contract of sale between Ann and Boy rescissible because
of the damage suffered by Ann
b.) The contract of sale between Ann and Boy is relatively
simulated
c.) The contract of sale between Ann and Boy is voidable because
there is a mistake
d.) The contract of sale between Ann and Boy may be
reformed
71. S1: In a natural obligation, the creditor has the right to enforce
the performance thereof it being based on positive law.
S2: Solutio indebiti and negotiorum gestio are quasi-contracts that
give rise to civil obligations.
a. True; True b. True; False c. False; False
d. False; True
72. One of the following is a determinate thing. Which is it?
a. A cow
b. A horse
c. A Toyota car with engine no. 12345, body no. 34888 and plate no. JDS 111
d. A ring with diamond embellishment
73. In which of the following is the debtor still liable despite the
fortuitous event causing the loss of the thing?
a. The thing lost is a specific thing.
b. The performance of the obligation has become impossible.
c. The nature of the obligation does not require the assumption of
risk.
d. When the law or the obligation expressly so provides.
76. S1: The debtor incurs delay from the time the creditor demands
fulfillment of the obligation but the debtor fails to comply with such
demand.
S2: In reciprocal obligations, where the obligations arise out of the
same cause and must be fulfilled at the same time, from the
moment one of the parties fulfills his obligation, delay by the other
begins notwithstanding the absence of demand.
a. True; True b. True; False c. False; False
d. False; True
77. Which of the following is a remedy of the creditor to enforce
payment of his claims against the debtor?
a. Pursue the property in the possession of the debtor including
those exempt by law.
b. Exercise all the rights and bring all the actions of the debtor
including those personal to him.
c. Impugn the acts which the debtor may have done to defraud his creditors.
d. All of the above.
79. S1: Mara borrowed P10,000 from Clara. On due date, Mara
paid the debt to Clara who had become insane. If Clara kept only
P6,000 and threw away P4,000, then payment will be valid for only
P6,000.
S2: Lea makes a note payable to bearer and delivers it to Mateo.
The note, however, is lost by Mateo and is picked up Lyka. Lyka
goes to Lea to collect on the note. Lea pays Lyka believing in good
faith that Lyka is the intended bearer. Lea is still not released from
liability.
a. True; True; b. True; False c. False; Fasle d.
False; True
91. S1: If the contract is not in the form provided by law for its
validity, the contract is void.
S2: if the contract is not in the form provided by law for its
enforceability, the contract, though it has all the essential
requisites for validity, cannot be enforced against the party sought
to be charged.
a. True; True b. True; False c. False; False
d. False; True
93. S1: If the terms of a contract are clear and leave no doubt upon
the intention of the contracting parties, the literal meaning of the
stipulations shall control.
S2: If the words appear to be contrary to the evident intention of
the parties, the latter shall prevail over the former.
a. True; True b. True; False c. False; False
d. False; True
100. If the partnership has the minimum capital mentioned in No. 29,
but the contract is not in a public instrument or the same is not
recorded with SEC, the partnership:
a. Is voidable
b. Is void
c. Still acquires juridical personality
d. Does not acquire juridical personality
101. Three of the following contracts are void. Which one is not?
a. A universal partnership of all present property between
husband and wife
b. A universal partnership of profits between a man and a woman
living together as husband and wife without the benefit of
marriage
c. A particular partnership between husband and wife
d. A universal partnership of profits between a private individual
and a public officer
106. Joseph, Aris, Dex and Earl are partners in JADE Enterprises, a
jewelry store, with Joseph contributing P50,000.00; Aris,
P20,000.00; and Dex, P30,000.00. Earl is an industrial partner and
manages the partnership. Based on the foregoing information,
which one of the following statements is false?
a. Joseph may engage in the buying and selling of rice without the
consent of the other partners
b. Earl may engage in the buying and selling of rice without the consent of the other
partners
c. Earl is not liable for the losses of the partnership
d. Earl may be held liable by third persons for partnership debts
with her separate property
109. A person admitted to all the rights of a limited partner who has
died or has assigned his interest in the partnership is known as
a. An ostensible partner
b. A liquidating partner
c. A substituted limited partner
d. A general-limited partner
111. The articles of incorporation differ from the by-laws in that the
articles of incorporation are:
a. The rules of action adopted by a corporation for its internal
government
b. Adopted before or after incorporation
c. A condition precedent in the acquisition by a corporation of a juridical personality
d. Approved by the stockholders if adopted after incorporation
117. These are powers which are necessary to carry into effect
powers which are expressly granted, and which must therefore be
presumed to have been the intention in the grant of the franchise.
a. Express powers c. Implied powers
b. Incidental powers d. Inherent powers
118. Which of the following subscriptions does not comply with the
subscription and paid-up capital requirements at the time of
incorporation?
Authorized Subscribed
Paid-up
a. P1,000,000.00 P250,000.00
P62,500.00
b. 300,000.00 75,000.00
50,000.00
c. 100,000.00 100,000.00
100,000.00
d. 50,000.00 12,500.00 3,125.00
120. Which of the following rights is the subscriber of shares not fully
paid who is not delinquent not entitled to?
a. Right to dividends
b. Right to vote in stockholders’ meetings
c. Right to a stock certificate
d. Right to inspection of corporate books and records