For founders' shares, where the exclusive right to vote and be voted for in the election of directors is granted, it must be for a limited period not to exceed ____ year/s from the date of incorporation

Group of answer choices

a. Five

b. Ten

c. One

d. Two

1. Subscribers to stocks shall be liable to the corporation for interest on all unpaid subscriptions from the date of subscription, if so required by and at the rate of interest fixed in the subscription contract.

2. Each incorporator of a stock corporation must own or be a subscriber to at least ten shares of the capital stock.

Group of answer choices

a. Both statements are wrong

b. Only the first statement is correct

c. Both statements are correct

d. Only the second statement is correct

When the debtor binds himself to pay when his means permit him to do so, the obligation is

Group of answer choices

a. Simple

b. Pure

c. Conditional

d. With a period

Gary is the guardian of Monina, a minor. He sold Monina's car with a fair value of P200,000 for just P180,000. The contract entered into by Gary is

Group of answer choices

a. Rescissible

b. Valid

c.Unenforceable

d. Void

e. Voidable

The creditor has a right to the fruits of the thing from

Group of answer choices

a. The time the thing is delivered

b.The time the fruits are delivered

c. The time the sale is perfected

d. The time the obligation to deliver the thing arises

H, I and J are joint debtors. They obliged themselves to deliver a specific rooster (worth P9,000) to P and Q, joint creditors. Assuming H is the only one who does not want to comply with the obligation, how much is the total amount that can be collected from him by the creditors?

Group of answer choices

a. P3,000 plus damages

b. P9,000

c. P9,000 plus damages

d. None. He is not forced to comply.

Mr. S sold a pig named Peachy to Ms. B for P5,000. No condition or period was contemplated. After the perfection of the contract but before the delivery of the pig, Peachy the pig gave birth to 5 piglets. Who is entitled to the 5 piglets?

Group of answer choices

a. None of the above

b. Peachy, because she is the mother of the piglets

c. Mr. S

d. Ms. B

Mr. S obliged himself to deliver to Mr. B 50 sacks of sugar for P20,000. Mr. S was not able to comply with his undertaking. Mr. B was now forced to find a new seller of sugar. Mr. B was able to buy 50 sacks of sugar from Mr. T for P20,000 also. Is Mr. S still liable?

Group of answer choices

Both a and b.

a. No, because there was no damage on the part of Mr. B. The sugar still costs P20,000

b. No, because Mr. B was able to get a replacement.

c. Yes, Mr. S incurred a breach of contract.

What principle is the basis of the rule that an indeterminate thing cannot be the object of destruction?

Group of answer choices

Force majeure

Genus nunquam perit

Negotiorum gestio

Compensatio morae

It is a remedy in equity by means of which a written instrument is made or construed so as to express or conform to the real intention of the parties when some error or mistake has been committed.

Group of answer choices

Reformation

Reparation

Rescission

Restitution

A partnership is considered nominate because

Group of answer choices

It is entered into by two or more persons

It is perfected by mere consent

It has a special name or designation in law

Each of the parties is required to give something

After the strong storm, Pedro did not remove the broken branches of his mango tree. A few days after, a passerby was hit by a branch that fell. Is Pedro liable?

Group of answer choices

No, it s a mere accident.

No, it is a fortuitous event.

Yes, he is liable for a crime.

Yes, he is liable for a quasi-delict.