1. This is a guaranty that is not limited to a single transaction but which contemplates a future course of dealings, covering a series of transactions generally for an indefinite period of time or until revoked. *

Continuing guaranty

Legal guaranty

Conventional guaranty

Double or Sub-Guaranty

2. Accrued interest shall not earn interest EXCEPT: *

When judicially demanded

By stipulation

Both A and B

neither A nor B

3. It is contract by virtue of which personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. *

Loan

Guaranty

Deposit

Chattel mortgage

Antichresis

4. This remedy is made by paying or delivering to the mortgagee the amount due on such mortgage and the costs, and expenses incurred by such breach of condition before the sale thereof. *

Real estate mortgage

Pledge

Redemption

Foreclosure

5. It is the remedy available to the mortgagee by which he subjects the mortgaged property to the satisfaction of the obligation. It denotes the procedure adopted by the mortgagee to terminate the rights of the mortgagor on the property and includes the sale itself. *

Real estate mortgage

Pledge

Redemption

Foreclosure

6. Commodatum whereby the bailor may demand the thing loaned at will: *

Precarium

Ordinary Commodatum

Pactum Commissorium

None of the above

7. Where two or more persons each claiming to be entitled to the thing placed in deposit demand its return, to whom must the depositor return it? *

To whoever gives the first demand

To whoever can show title over the thing

To neither, as he must file an action to determine true ownership

To neither, as he can now keep it for himself

8. The following are special requisites of a contract of pledge except: *

Execution of an Affidavit of Good Faith

Delivery of the thing pledged

Movable property and documents evidencing incorporeal rights as subject matter

Public instrument where date and description of thing is contained

9. What kind of redemption is available for judicial foreclosure? *

Right of redemption

Equity of redemption

Right of redemption or equity of redemption for banks

Equity of redemption or right of redemption for banks

Deposit, Commodatum

10. Not presumed to be gratuitous

11. Principal purpose is transfer of use

Voluntary, Necessary, Sequestration

12. Depositor has complete freedom to choose his depositary

13. Purpose is to maintain status quo

Judicial or Extrajudicial

14. Always remunerated

Pledge, Mortgage

15. Requires consent of the other party in order for the thing to be sold

Antichresis, Pledge, Real estate mortgage

16. Effective against third persons only if registered

17. Requires consent of the other party in order for the thing to be sold

Chattel mortgage, Pledge

18. Creditor cannot appropriate the property to himself in payment of the debt

Debtor, Creditor

19. Pledgor

20. Real estate mortgagee

21. Bailee

22. Chattel mortgagor

23. Surety