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1. A owes C P500 and P3,000 evidenced by two promissory notes. Later, a new loan of P300 was obtained. By express agreement, the three debts were consolidated into one promissory note of P3,800. That the last promissory note was to take the place of the others was agreed upon. Is there novation here?

2. D owes C P1,000,000. F, a friend of D, approaches C and tells him; "I will pay you what D owes you." C agrees. Is there expromission here?

3. D owes C P1,000,000. F, a friend of D, approaches C and tells him: "I will pay you what D owes you." From now on, consider me your debtor, not D. D is to be excused. "Do you agree?" C agrees. Is there expromission here?

4. A owes B P1,000,000. A proposed to B that C will pay A's debt, and that A will be released from all liabilities. B and C agree to the proposal. Later, when B tries to collect from A, he finds out that C is insolvent. It was proved that at the time of delegation, C was already insolvent but this was not known to A. neither was the insolvency of public knowledge. Nevertheless, B still sues A on the ground that it was A who made the proposal, and that therefore A really guaranteed C's insolvency. Decide.

5. A and B had a contract which they agreed to novate,provided the signatures of C and D could be obtained. But said signatures was never procured.

6. D and C entered into a contract whereby D was to give C P800,000 in cash. Later, they novated the contract by stipulating that instead of cash, D would give a particular car. Subsequently, the car was destroyed by a fortuitous event. Is D obliged to give P800,000?

7. A was forced to sign a promissory note to give B P500,000. Later the parties agreed voluntarily to let the subject matter be a precious stone. Although the first contract was voidable, the second one is all right because in the first contract, annulment could be claimed only by the debtor.

8. A promised to give B a car if B should pass his Law1 subject. Later, both agreed that what should be given would be a diamond ring. Nothing was mentioned in the second contract regarding the condition. Is th new obligation also subject to a suspensive condition?

9. A promised to give B a car unless X married Y. Later A and B agreed to change the object to a precious stone. No mention was made regarding any condition. Is the second obligation subject to a resolutory condition?

10. Suppose in the same given, X had already married Y before A and B novated their contract, what happens to the new obligation?

11. Ligaya has two creditors: Gloria, who is a mortgage creditor for P1,500,000, and Solita, who is an ordinary creditor for P600,000. Solita, without Ligaya's knowledge, paid Ligaya's debt of P1,500,000 to Gloria. Will Solita be subrogated in the rights of Gloria?

12. Suppose Solita paid Gloria only P1,300,000 for Ligaya's total indebtedness (Gloria agreed because of friendship), how much, concerning this debt, may Solita successfully recover from Ligaya?

13. Suppose in the previous problem, Solita paid the P1,300,000 to Gloria without Ligaya's knowledge, but it turns out that at said time of payment, Ligaya's debt had already been reduced to P300,000 (because of a prior partial payment), how much can Solita successfully recover from Ligaya concerning this debt?

14. Eubolo owes Luna P1,000,000 secured by a mortgage. Blesilda, a classmate of Eubolo, and having no connection with the contract at all, paid Luna the P1,000,000 with Eubolo's approval. Is Blesilda subrogated in Luna's place?

15. If in the previous given, Blesilda, who is Luna's friend, paid her only P700,000 for the extinguishment of Eubolo's debt, but the payment was made without the express or tacit approval of Eubolo, what would be Blesilda's rights, if any?

16. A owes B P500,000. With the consent of both, C pays B P250,000. Now B and C are the creditors of A to the amount of P250,000. Suppose A has only P250,000, who should be preferred?

Par value of common stock is established for a share of stock after it is issued. Q represents the original selling price for a share of stock. O represents what a share of stock is worth. is the value assigned per share in the corporate charter. QUESTION 2 All of the following statements regarding retained earnings are true except O retained earnings represents a claim on cash. a debit balance in Retained Earnings indicates a deficit. retained earnings is net income that a company retains in a business. retained earnings are a cumulative measure. QUESTION 3 The net effects on the corporation of the declaration and payment of a cash dividend are to decrease assets and decrease stockholders equity. increase stockholders' equity and decrease liabilities, increase assets and increase stockholders' equity. decrease liabilities and decrease stockholders equity. Click Save and Submit to save and submit. Click Save All Answers to save all answers. 9The United States constitution places the most significant limitations on administrative investigation in the area of: O search and seizure of the person. O aerial inspection. search and seizure of papers and records. guarantee against self-incriminatin D Question 17 2.5 pts A subpoena to testify or to produce records: O is prohibited by the constitutional guarantee against unreasonable searches and seizures. O is an illegal attempt to gain information by compulsion. O cannot be opposed on the grounds that such a request constitutes an unreasonable search and seizure. O must be approved by corporate officers to be effective.Question 6 (2 points) Which of the following is true of a closely held corporation? It is often called a municipal corporation. It is a corporation not organized for profit. It is a governmental organization. The shareholders in a closely held corporation are fewer in number. The stock in a closely held corporation is widely held. Save OWSDiscussion Board Question 0 The Uniform Commercial Code (UCC) Article 1 Part 2, Section 2- 204 describes contract "Formation in General." How can an "agreement sufficient to constitute a contract for sale" be found when "the moment of its making is undetermined?" Please look at UCC definitions and relevant provisions to support your answer. Your answer should be between 125 words and 300 words.Par value of a stock refers to the: A) Issue price of the stock. B) Value assigned per share by the corporate charter. C) Market value of the stock on the date of the financial statements. D) Maximum selling price of the stock. E) Dividend value of the stock