10. Not a requisite of stipulation pour autrui a. The contracting parties must have clearly and deliberately conferred a favor upon third person b. The stipulation must be part of the contract c. The third person communicated his acceptance to the obligor before it revocation d. There must be an agency between either of the parties and the third person What is an example of a natural element of a contract? a. Form b. Warranty against eviction c. Consent d. Consideration Under this theory, a contract is perfected from the moment the acceptance is declared or made. a. Manifestation Theory b. Expedition Theory c. Reception Theory d. Cognition Theory On March 5, 2021, A wrote a letter to B offering him lease of a building. On March 6, 2021, at 1:00PM, B sent a letter of acceptance which was received by A at 4:00PM that day. But at 2:00PM, A had already sent B a letter of withdrawal of the offer which was received by B at 5:00PM. When was the contract perfected? a. At 1:00PM b. At 4:00PM c. At 2:00PM d. The contract has not been perfected Is there any exception to the rule that a mistake of law cannot vitiate consent rendering the contract voidable? a. Mutual error as to the legal effect of an agreement when the real purpose of the parties is frustrated, may vitiate consent b. Mistake as to the object of contract c. Mistake as to person (error in person) d. There is no exception What distinguishes earnest money from option money? a. If there is earnest money, in case of nonpayment, there can be an action for specific performance only, while if there is option money, an action for specic performance or rescission can be filed by the injured party b. If there is earnest money, title passes to the buyer upon delivery of the thing sold, while if there is option money, ownership is reserved to the seller and is not to pass until full payment c. The earnest money is a distinct consideration for an option contract; while the option money is part of the purchase price d. If there is earnest money, the would-be buyer is not required to buy; while if there is option money, the buyer is not bound to pay the balance It refers to an unaccepted unilateral promise to buy or sell a. Negotiation b. Preparation c. Policitacion d. Generation A, an illiterate, borrowed P100,000 from B. Aside from that, A mortgaged his land to B which the latter accepted to secure the payment of the loan. B prepared a deed of sale with a right to repurchase of the land at a price of P100,000 which A singed after B explained that such document evidenced their true agreement. What is the proper legal remedy available to A? a. Action for reformation of instrument b. Action for rescission of contract c. Action for annulment of contract d. Action for declaration of nullity of contract Which of the following contracts is perfected by the delivery of the subject matter of the contract? a. Contract of sale b. Contract of partnership c. Contract of pledge d. Contract of real estate mortgage A delivered a specific calculator to B so that the latter will be able to use it for a period of 1 month without any rental payment. In case of doubt in the incidental circumstance of this contract, how shall it be interpreted? a. It shall be interpreted in favor of greatest reciprocity of interest. b. It shall be interpreted in such a manner to make the contract null and void. c. It shall be interpreted in favor of least transmission of rights. 11. 12. 13. 14. 15. d. It shall be interpreted in favor of the beneficiary. A, an insane person, sold his specific laptop to B at a price of P10,000. After obtaining knowledge of the contract, C, a childhood friend of A, filed an action before the court for annulment of the contract of sale. What principle of contract is violated by the filing of such action? a. Mutuality of contract b. Relativity of contract c. Liberality of contract d. Legality of contract A delivered P1,000 cash to B as a contract of deposit which the latter thought to be a contract of loan. What is the proper legal remedy on the part of the injured party? a. Action fore reformation of the instrument b. Action for rescission of the contract c. Action for annulment of the contract d. Action for declaration of nullity of the contract What is the legal remedy available to the injured party in case one of the contracting parties committed causal fraud? a. Action for damages for breach of contract b. Action for annulment of contract c. Action for rescission of contract d. Action for declaration of nullity of void contract What is the legal remedy available to the injured party in case of absolutely simulated contract? a. Action for damages for breach of contract b. Action for reformation of instrument c. Action for rescission of contract d. Action for declaration of nullity of contract When there having a meeting of minds of the parties to the contract, their true intention is not expressed in the document purporting to embody the agreement by reason of mistake, fraud, inequitable conduct or accident, what is the remedy of the parties? Action for damages for breach of contract Action for reformation of instrument Action for rescission of contract Action for declaration of nullity of contract ago-9) ---nothing follows