Choose the correct answer and explain. Answer number 1-35. Thank you!

1. It is a gratuitous loan of a thing, to be used for a certain time and for a certain purpose, and with the obligation to return the same thing after the time expires or the purpose accomplished.

a. Guaranty

b. Pledge

c. Commodatum

d. Mutuum

2. A contract by virtue of which one of the contracting parties delivers to the other money or any other consumable thing subject to the condition that the same amount of the same kind and quality be paid or returned.

a. Guaranty

b. Pledge

c. Commodatum

d. Mutuum

3. It is an accessory obligation whereby real property is offered as security for a debt or loan.

a. Real Estate Mortgage

b. Antichresis

c. Commodatum

d. Lease

4. It is an accessory obligation whereby personal property is offered as security for a debt.

a. Pledge

b. Chattel Mortgage

c. Pacto de Retro

d. Mutuum

5. The deposit of personal property by debtor with a creditor as security for payment of the debt.

a. Pledge

b. Chattel Mortgage

c. Pacto de Retro

d. Mutuum

6. A contract by virtue of which the creditor acquires the right to receive the fruits of an immovable of his debtor with the obligation to apply them to the payment of the interest, if owing, and thereafter to the principal of his credit.

a. Real Estate Mortgage

b. Antichresis

c. Commodatum

d. Lease

7. It is where the owner of the thing lends it gratuitously for use of the bailee for as long as the bailor or owner pleases, however the latter may demand for its return at will.

a. Real Estate Mortgage

b. Antichresis

c. Precarium

d. Commodatum

8. A contract by which the parties exchange goods or commodities for other goods.

a. Contract for a Piece of Work

b. Commdatum

c. Barter

d. None of the above

9. It is the right of an adjacent owner of a parcel of land to buy the adjoining property before it is offered for sale to others.

a. Legal Redemption

b. Conventional Redemption

c. Pre-emption

d. Condemnation

10. A contract which is constituted from the moment a person receives a thing belonging to another with the obligation of safely keeping it and retuning the same.

a. Deposit

b. Commodatum

c. Antichresis

d. None of the above

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

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.

a. Attachment

b. Escrow

c. Replevin

d. None of the above

13. A necessary deposit is:

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:

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:

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:

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?

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.

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:

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:

a. The delivery of the personal property is necessary

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

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

d. Answer not given

21. B pledged his 24 k gold necklace to C for P4,000.00. B failed to pay C the P4,000.00, on due date. C sold the gold necklace at a public auction to the highest bidder for P3,500.00.

a. C can recover the deficiency of P500.00 from B

b. C can recover the deficiency of P500.00 even without stipulation

c. C cannot recover the deficiency of P500.00 unless there is stipulation

d. C cannot recover the deficiency of P500.00 even if there is stipulation.

22. Mr. Santos authorized Mr. Canlas to sell his car for P200,000.00 with 5% agents commission. Mr. Canlas sold the car to Mr. Dizon for P250,000.00. For how much is Mr. Canlas accountable to Mr. Santos?

a. P200,000.00

b. P190,000.00

c. P250,000.00

d. P240,000.00

23. Statement 1. In gratuitous deposit, the depositor is not obliged to reimburse the expenses for preservation as he has the implied authority to use the thing deposited. Statement 2. Hotel keeper has the right to retain the things brought by guest within the hotel as security for the payment of the accommodation of the said guest.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

24. Statement 1. A chattel mortgage exists when personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. Statement 2. In chattel mortgage, the mortgagor must execute an affidavit of good faith in order that the mortgage shall be valid against third persons.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

25. Statement 1. An unregistered chattel mortgage is valid upon parties but void as to innocent third persons. Statement 2. Real Estate Mortgage is an accessory contract

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

26. Statement 1. The parties to a mortgage of a house and lot cannot validly stipulate that the mortgage property cannot be sold except with the consent of the mortgagee. Statement 2. Real Estate Mortgage to be valid as to third person is sufficient if it has been embodied in a public instrument.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

27. Statement 1. In both chattel mortgage and pledge, the thing as a security for the fulfillment of the principal obligation is delivered to the creditor. Statement 2. A stipulation for bidding the owner from alienating the immovable mortgage is valid.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

28. Statement 1. The surety is entitled to Benefit of Excussion. Statement 2. The objects in Mutuum are non-fungible objects.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

29. Statement 1. In pledge personal properties are delivered by the pledgor to the pledgee primarily for safekeeping purposes. Statement 2. Ownership is transferred to the bailee in commodatum.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

30. Statement 1. Mutuum is a consensual contract. Statement 2. The pledgor will retain possession over the subject matter of the contract.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

31. Statement 1. The subject matter of antichresis is movable properties. Statement 2. Only non-consumables can be given in commodatum.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

32. Statement 1. Guaranty is a unilateral contract. Statement 2. A guarantor is allowed to appoint a sub-guarantor

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

33. Statement 1. Credit transactions are also known as contract of bailments. Statement 2. Bailor is also known as the creditor

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

34. Statement 1. In case the depositary delays its return, the depositary is liable for the loss of the thing through a fortuitous event. Statement 2. In deposit, when it is necessary to open a locked receptacle, the depositary is conclusively and absolutely presumed to have the authority to do so.

a. Both Statements are TRUE

b. Both Statements are FALSE

c. Only Statement 1 is TRUE

d. Only Statement 2 is TRUE

35. Three of the following are fundamental obligations of the agent. Which is the exception?

a. Can be the borrower if he is authorized to lend.

b. Sacrifice his interest and give it to the principal if there is a conflict

c. To render an accounting of the transaction.

d. Shall not carry out the agency even if that is the instruction, if he knew it would result in a loss or damage to the principal.