Professional Documents
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MULTIPLE CHOICE. CHOOSE THE BEST ANSWER AMONG THE GIVEN ALTERNATIVE ANSWERS AND WRITE THE CORRESPONDING
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1. One of the following acts may be delegated by a principal to his agent. Which is it?
a. Vote during the meeting of stockholders of a corporation where the
principal is a stockholder.
b. Attend meetings of the board of directors of a corporation where the
principal is a director.
c. Purchase land in the Philippines of which the principal is an alien.
d. Represent the principal in a marriage ceremony where the principal is
a party to the marriage contract.
2. X, Y and Z, co-owners of a house and lot, appointed A to sell the house and lot at a price of not less than P1,500,000
cash with A being entitled to a commission of 10% of the selling price. A was able to sell the house for P1,800,000.00
cash. How much commission may A collect from X?
a. P150,000.00.
c.
P60,000.00.
b. P180,000.00.
d.
P50,000.00.
3. P appointed A as his agent to sell the appliance products of P. The agreement between P and A provides for the
payment to A of a 5% ordinary commission and a 10% guarantee (or del credere) commission. A sold several
appliances to B for P20,000.00 the same being payable after 30 days. When A went to B's place to collect the price
of the appliances, B,together with the appliances that were sold, was nowhere to be found:
a. A is liable to P for the price of the appliances because A must bear the risk
of collecting.
b. A is not liable to P for the price of the appliances because it was not his
fault that B should disappear.
c. P must bear the risk of collection because he is the owner of the appliances.
d. A is liable to P because A acted beyond the scope of his authority.
4. P gave a special power of attorney to A to sell P's house and lot. On May 5, 2003, A sold the house and lot to X
through a deed of absolute sale which was duly acknowledged before a notary public. On May 5, 2003, P sold the
house and lot to Y not knowing that A had already sold the same to X. Although the deed of sale in favor of Y had
not yet been acknowledged before a notary public by P and Y, Y immediately took possession of the house and lot.
X and Y were not aware of the sale made to the other.
a. X is the owner of the house and lot.
b. Y is the owner of the house and lot.
c. X and Y will become co-owners of the house and lot.
d. P remains the owner of the house and lot.
5.P delivered to A a power of attorney authorizing A to sell goods for P10,000.00 on cash basis. A was able to sell
the goods for P10,500, also on cash basis, to X, who upon learning of A's authority as regards the selling price, sought
to annul the sale.
a. X may successfully annul the sale because A exceeded his authority.
b. X may not successfully annul the sale because A acted in a manner more
advantageous to P.
c. X may successfully annul the sale because there was no instruction given
by P to A to sell more than P10,000.00.
d. X may successfully annul the sale only if P prohibited A to sell more than
P10,000.00.
6. All but one of the following give the presumption of an equitable mortgage
a. vendor remains in possession as lessee or otherwise
b. the buyer retains for himself a part of the purchase price
c. vendee binds himself to pay the taxes on the thing sold
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33. B borrowed from L P50,000 bearing 10% annual interest, with B agreeing that the fruits from the
agricultural land shall answer for the interest and principal obligation. Assuming compliance with all the lega
requirements, this is known as
a. Antichresis
c.
real estate mortgage
b. Pledge
d.
chattel mortgage
34. For the validity of the above contract,
a. it must be in writing
c.
May be in any form
b. It must be in a public instrument
d. May be inferred from the conduct of the parties
35. The measurement of the application of the fruits to interest and principal obligation is the actual value of the
of the fruits at the time they are
a. gathered
c.
gathered less reasonable depreciation
b. Applied
d.
applied less reasonable depreciation
36. The procedure adopted by the mortgagee to terminate he rights of the mortgagor on the property morgaged
which includes th sale of the property
a. Redemption
c.
foreclosure
b. Repossession
d.
repurchase
37. For chattel mortgage to be binding between the parties, the same must be recorded in theChattel Mortgage
of the province where
a. Mortgagor resides
c.
mortgagor and where the property is located
b. Mortgaged property is located
d.
and where the mortgagee resides
38. A real mortgage is binding between the parties
a. Although entered into orally
c. Only if entered into in a public instrument
b. Only if entered into in writing
d. Only if recorded in the Registry of Property
39. Which is not a characteristic of real mortgage?
a. accessory contract
c.
inseparable contract
b. Real contract
d.
indivisible contract
40. Real mortgage
a. Confers ownership of the mortgaged property in the mortgagee upon its constitution
b. Creates encumbrance on the real property
c. Confers ownership on the morgaged property in the mortgagee if the principal obligation it secures is not paid on due date
d. Confers ownership on the mortgaged property in the mortgagee upon default of the debtor if the parties stipulated
41. The creditor may automatically appropriate for himself the thing on which the security was constituted upon the default
of the debtor in
a. Pledge
c.
antichresis
b. Mortgage
d.
automatic appropriation is not allowed in any case
42. When is appropriation by the creditor of the thing given as security allowed in pledge, real mortgage and chattel mortgage?
a. When the thing given as security in real mortgage is not sold at two public auctions
b. When the thing given as security in pledge is not sold at two public auction
c. When the thing given as security in chattel mortgage is not sold at one public auctions
d. No appropriation is allowed in either pledge, real mortgage or chattel mortgage
43. The debtor/pledgor has the following rights, except:
a. to ask for the return of the thing pledged after he has paid the debt, its
interests, and with expenses in a proper case.
b. to continue to be the owner of the thing pledged unless it is expropriated.
c. to require the deposit of the thing with a third person if it is in danger
of being impaired or lost through the negligence or willful act of the
pledgee.
d. to allienate the thing pledged without the consent of the pledgee.
44. As a general rule, any deficiency in the foreclosure sale may be recovered in the following contracts, except in
a. chattel mortgage
c.
conventional pledge
b. real mortgage
d.
antichresis
45. A borrowed from B P100,000 with a ring given as pledge. They stipulated that in case of non-payment on due date, the ring will
belong to B. This forfeiture is
a. caveat emptor
c.
pacto de retro
b. dacion en pago
d.
pactum comisorio
46. In real estate mortgage, the mortgagor can sell the property mortgaged
a only if with the oral consent of the mortgagee
b only if with written consent of the mortgagee
c if not prohibited to sell
d ven without the consent of the mortgagee
47. Elements of contracts of pledge and mortgage, except
a pledgor or mortgagor must be the absolute owner
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