31. Which of the following obligations is not immediately demandable? *

a. Obligation ex die

b. Obligation in diem

c. Obligation when the debtor's means permit him to do so

d. Obligation subject to a suspensive condition

32. While traversing a narrow road, a passenger bus owned by JAC Liner collided with a private car owned and driven by O. The bus was being driven by D. Passenger P and pedestrian A were injured during the accident. What is the best source of obligation if A will file an action against JAC Liner? *

a. Contract

b. Quasi-contract

c. Crime

d. Quasi-delict

33. In which of the following instances will the obligation with a suspensive period remain to be not immediately demandable? *

a. When the debtor attempts to abscond.

b. When by debtor's own act, he has destroyed the guaranties or securities after their establishment and he does not immediately give a new one equally satisfactorily.

c. When through fortuitous event, the guaranties or securities after their establishment were impaired.

d. When after the obligation has been contracted, the debtor becomes insolvent and he does not give a guaranty or security for the debt.

34. Through the use of force and intimidation, A was able to induce B to sell his car to the former at a price which is substantially lower than its fair market value. C was interested in the said car which prompted him to file an action for annulment of the contract of sale. What characteristic of contract will be violated if the action will be allowed by the court to prosper? *

a. Mutuality of contract

b. Liberality of contract

c. Obligatory force of contract

d. Relativity of contract

35. How is a contract to constitute a deposit perfected? *

a. By mere consent

b. By delivery of the subject matter of the contract

c. By execution of the formality required by law

d. By performance of the contract

36. A and B orally agreed for the acquisition of a customized jersey based on the special design requested by A at a price of P500. Delivery of the jersey and payment of the price will happen after one month from the date of oral agreement. What is the status of the contract? *

a. Voidable

b. Rescissible

c. Perfectly valid

d. Unenforceable

37. Which of the following will extinguish both the contract of pledge and its secured contract of loan? *

a. Return of the thing pledged by the pledgee to the pledgor.

b. Sale of the thing pledged in public auction at a price less than the amount of the secured loan

c. Renunciation in writing of the contract of pledge by the pledgee.

d. Appropriation of the thing pledged by the pledgee upon failure of the debtor to pay the contract of loan at maturity date.

38. In which of the following instances are the goods still in transit? *

a. If the goods are rejected by the buyer, and the carrier or other bailee continues in possession of them, even if the seller has refused to receive them back.

b. If the buyer obtains delivery of the goods before arrival at the appointed destination.

c. If the carrier or other bailee acknowledges to the buyer or his agent, that he is holding the goods in his behalf, after arrival of the goods at their appointed destination.

d. If the carrier or other bailee wrongfully refuses to deliver the goods to buyer or his agent.

39. Which of the following is not a requisite in order for the vendor to be liable in case the animal sold dies of disease? *

a. The animal dies within 3 days from time of purchase.

b. The disease is redhibitory.

c. The disease exists at the time of sale.

d. The disease is the cause of death of the animal.

40. M issued a promissory note to P which states "I promise to pay P P10,000." The promissory note was issued in exchange for a bag of marijuana. P subsequently indorsed and delivered the said promissory note to A. Which of the following statements is correct? *

a. A can validly collect from M if A acquired the promissory note in good faith and for value.

b. A can go after P only if M will dishonor the note and only if a corresponding notice of dishonor will be given to P.

c. A cannot validly collect from M if A has knowledge of the infirmity in the instrument thus making A a holder not in due course.

d. A can validly collect from P because the latter violated his warranty.

41. M issued a promissory note to P which states "I promise to pay P P10,000." The promissory note was issued in exchange for a specific laptop. P subsequently indorsed and delivered the said promissory note to A. If M becomes insolvent at the maturity date of the note, which of the following is correct? *

a. A can validly collect from P provided a corresponding notice of dishonor is given to P.

b. A cannot go after from P in the absence of express warranty of solvency of M.

c. A cannot go after from P even if the insolvency of M is already existing and public knowledge at the time P assigned the note to A.

d. A can validly collect from P because the latter violated his warranty.

42. Which of the following acts may be validly done by the managing partner alone? *

a. Confession of judgment

b. Approval of collective bargaining agreement

c. Disposition of the goodwill of the business

d. Submission of partnership claim to arbitration

43. A is indebted to B in the amount of P10,000. A defaulted in the payment of obligation. B threatened to file a civil case against B if A will not sign the contract of real estate mortgage over A's land. By reason of the intimidation, A signed the contract. What is the status of contract of real estate mortgage? *

a. Void

b. Voidable

c. Valid and binding

d. Unenforceable

44. Which of the following instruments or documents is allowed to be reformed by the court? *

a. Void contract

b. Notarial will

c. Holographic will

d. Donation inter vivos wherein a simple condition is imposed

45. A borrowed P10,000 from B with C pledging his cellphone and D serving as guarantor to secure the fulfillment of the obligation. Without knowledge of A, C pays the obligation of A to B at the maturity date. Which is true? *

a. C may ask for reimbursement from A only in so far as the payment is beneficial.

b. C can directly go after D even without demanding payment from A.

c. A may refuse to reimburse C on the ground that the payment is without his knowledge.

d. C may go after D in case A becomes insolvent.