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