11. Another term of a deposit constituted by virtue of a court order.

2 points

a.Necessary Deposit

b. Voluntary Deposit

c. Sequestration

d. Escrow

12. A petition to be filed in order to obtain possession of a chattel before its actual foreclosure.

2 points

a. Attachment

b. Escrow

c. Replevin

d. None of the above

13. A necessary deposit is:

2 points

a. Constituted in compliance with a legal obligation

b. On the occasion of a calamity

c. Constituted by guests in hotels or inns

d. All of the above

14. Depositary is liable for the loss of the thing through a fortuitous event when:

2 points

a. It is so stipulated

b. If he uses the thing without the depositor's permission

c. If he delays its return

d. All of the above

15. A hotel or inn keeper does not incur any liability if the loss:

2 points

a. Is caused by the guest, his family or servant

b. Arises from the character of thing deposited

c. Is caused by thief or robber using irresistible force

d. All of the above

16 .The following are the characteristics of pledge, except:

2 points

a. It is a subsidiary contract

b. It is an indivisible contract

c. Ownership is transmitted to the Creditor

d. None of the above

17. A appoints B as his agent to sell his land. Which of the following is valid?

2 points

a. The authority of A is oral and B sells the land to C for P50,000.00 in a written contract of sale

b. The authority of B is in writing but the sale of the land in writing was made beyond the period expressly set forth by A

c. The authority of B from A is by way of letter and B sells the land to C in writing

d. The authority of B is in writing and the sale of the land to C is oral

18. A stipulation whereby the pledge or mortgagee automatically becomes the owner of the thing pledged or mortgaged.

2 points

a. Consolidation of ownership

b. Conventional Redemption

c. Consignation

d. Pactum Commissorium

19. A mortgaged his residential land to B as a guarantee for the payment of P408,000.00 obligation of A. They agreed that A shall not sell the land while the obligation of A exists. Before maturity of the mortgage, C offered to buy the land from A:

2 points

a. A cannot sell the land to C because of the agreement not to sell

b. A can only sell the land to C only if B consents in writing

c. A can sell the land to C despite the agreement not to sell.

d. A cannot sell the land to C unless A pays the obligation.

20. The distinction between a chattel mortgage and a pledge is that in chattel mortgage:

2 points

a. The delivery of the personal property is necessary

b. The registration of the property in the Registy of Property is not necessary

c. The excess over the amount due after foreclosure goes to the debtor

d. Answer not given