BUSINESS LAW 1A:

Test I. Identification

_____ 1. A (___) obligation is one which is susceptible or capable of partial fulfillment.

_____ 2. As a rule, the obligation to do, not to do or to give is enforceable in the(___).

_____ 3. (___) is the act on the part of the debtor of offering to the creditor the thing or amount due.

_____ 4. The act of depositing the thing or sum due at the disposal of judicial authority is called (___).

_____ 5. In gratuitous contracts, the cause is the (___) of the benefactor.

_____ 6. A qualified acceptance constitutes a (___).

_____ 7. As a rule, the obligation arising from (___) is demandable not only for one's own acts or omissions, but also for those of persons for whom one is responsible.

_____ 8. The prevailing law between the contracting parties is their (___).

_____ 9. The delivery of promissory notes or bills of exchange or other mercantile documents shall produce the effect of payment only when they have been (___) or when through the fault of the creditor they have been (___).

_____ 10.

_____ 11. Contracts which are entered into by a person in representation of another without the latter's authority is (___).

_____ 12. If a contract should contain some stipulation in favor of a third person, he may demand its fulfillment provided he communicated his acceptance to the obligor before its revocation. This is known as "stipulation (___)".

_____ 13. Unless the obligation expressly so states, or when the law or the nature of the obligation requires solidarity, the obligation is (___)?

_____ 14. (___) is one where the debtor may cede or assign his property so that the latter may sell the same and the proceeds applied to the obligations of the debtor.

_____ 15.A kind of obligation not being based on positive law but on equity and natural law is (___).

_____ 16.A (___) obligation is one the fulfillment of which does not depend upon a future or uncertain event, or upon a past event unknown to the parties, and is demandable at once

_____ 17. Surrender of stolen goods/things by the offender is a form of civil liability known as (___).

_____ 18. There is (___) or (___) of rights from the time the characters of creditor

and debtor are merged in the same person.

_____ 19.

_____ 20. Contracts that do not comply with the Statute of Frauds are (___).

_____ 21. The party in an obligation who has the right to demand fulfillment of the obligation is the (___).

_____ 22. Obligations to give are also called (___) obligations.

_____ 23. In alternative obligation, the (___) has the right to choose which of the presentations shall be fulfilled.

_____ 24. In an obligationwith a penalclause, the (___)shall substitute the indemnity for damages sustained.

_____ 25. An obligation subject to a (___) condition is not demandable unless the

condition is fulfilled.

Test II. True or False

_____ 1. In negotiorum gestio, the officious manager is with full authority from the owner of the property or business under management.

_____ 2. As rule, legal subrogation may be presumed.

_____ 3. The validity or compliance of a contract can be left to the will of one of the contracting parties.

_____ 4. In quasi-delict, there is the element of intent by a person to cause damage to another by his act or omission.

_____ 5. There is no exception to the rule that the debtor may be released from responsibility by mere consignation of the thing or sum due.

_____ 6. Creditors are protected in cases of contracts intended to defraud them.

_____ 7. In an obligation with a suspensive period the debtor cannot be compelled to pay and the creditor cannot be compelled to accept payment before the arrival of the period.

_____ 8. Novation, which consists in substituting a new debtor in the place of the original one, may be made even without the consent of the creditor.

_____ 9. In case of a divisible contract, if the illegal terms can be separated from the legal ones, the latter may be enforced.

_____ 10. An obligation is still enforceable even in the absence of the judicial or legal tie.

_____ 11. The guarantor may set up compensation as regards what the creditor may owe the principal debtor.

_____ 12. Contracts are generally consensual ones.

_____ 13. Acts or omissions punishable by law are called crimes or delicts.

_____ 14. Confusion does not extinguish a joint obligation except as regards the share corresponding to the creditor or debtor in whom the two characters of creditor and debtor concur.

_____ 15. Acceptance made by letter or telegram binds the offerer from the time it came to his knowledge.

_____ 16. The payment of a realty tax by the property owner is an example of a contractual obligation.

_____ 17. The expenses of consignation, when properly made, shall be charged against the creditor.

_____ 18. Void contracts can never be ratified.

_____ 19. A conditional obligation, as a rule, is demandable at once

_____ 20. The consent of the original parties is the only requirement in conventional subrogation of a third person

_____ 21. If there are two or more debtors, the obligation is always solidary.

_____ 22. Juridical tie is a source of obligations.

_____ 23. Contracts always give rise to obligations.

_____ 24. Fulfillment of resolutory conditions extinguishes existing obligations.

_____ 25. In an obligation subject to a suspensive period, the debtor cannot be compelled to pay but the creditor can be compelled to accept payment before the arrival of the period

Test III.Enumeration

A. FIVE Sources of obligations (5)

B. FIVE Principal modes of extinguishing obligations