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11) Which statement is true as regards the following promissory note:

We promise to pay A, B and C the sum of P18,000.

(signed) X, Y and Z."

Group of answer choices

Z is obliged to pay C P12,000

Z is obliged to pay C P18,000

Z is obliged to pay C P6,000

Z is obliged to pay C P2,000

12) It is a classification of a condition where the fulfillment of the condition depends upon the will of one of the contracting parties.

Group of answer choices

Mixed condition

Impossible condition

Potestative condition

Casual condition

13) Which of the following refers to a joint obligation?

Group of answer choices

One in which each debtor Is liable for the entire obligation, and each creditor is entitled to demand the whole obligation.

One in which each of the debtors is liable only for the proportionate part of the debt and each of the creditor is entitled only for a proportionate part of the credit.

One in which the obligation of one is a resolutory condition of the obligation of the other, the non-fulfillment of which entitles the other party to rescind the contract.

One in which either one of the parties is indispensable and the other is not necessary

14) A owes B P150,000 on June 31, 2018. A executed a mortgage in favor of B on As building. On June 10, 2018, the mortgaged building was totally lost due to an earthquake. On June 12, 2018, B demanded payment from A. Is Bs demand valid?

Group of answer choices

Yes. The debt becomes due at once because the periods benefit is given solely to the creditor thereby giving the creditor the right to demand performance even before the due date.

No. The mortgage was extinguished because the object of the contract was lost through a fortuitous event.

Yes. The debt becomes due and demandable at once because the object of mortgage was lost.

No. The obligation is one with a definite period, thus, the creditor cannot demand fulfillment of the obligation before it is due.

15) It is the remedy of requiring exact performance of a contract in the specific form in which it was made, or according to the precise terms agreed upon.

Group of answer choices

Fulfillment

Specific performance

Resolution

Rescission