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Chapter 1 - General Provisions d. Commodatum c. Formal contract 43. When the law requires that a contract be in some form in order that it may be valid or enforceable, or that a contract be proved in a certain way, that requirement is absolute and indispensable. a. Consensual contract b. Real contract C. Formal contract d. Unilateral contract 44. In February 2016, X Corp. contracted the services of Y Construction Supply. The latter was to supply labor and materials, for the construction of two cafeterias. The terms and conditions of the contract between X Corp. and Y was expressed in the purchase orders and progress billings In partial payment of the project, X Corp. drew and issued Check No. 01234 and delivered the same to Y. However, the said check was dishonored upon its presentment for payment on the ground that it was drawn against insufficient funds. Y was able to complete the project and turned the same over to X Corp. The total amount due as of the final billing dated November 26, 2016 was P486,409. However, despite Y's written demand for payment, X Corp. failed to settle the balance of its obligation. Is the contract binding between the contracting parties? a. No, because the contract must be formalized in a public instrument b. No, the agreement should be written in a separate document and now to be included in the purchase orders and progress billings. c. Yes, the terms and conditions of the contract expressed in " purchase orders and progress billings must govern the contractu relation of the parties. d. Yes, because the meeting of the minds was put into writing 45. Contracts take effect only to the parties, their assigns and heirs excer where the rights and obligations arising therefrom: 1 a. Are not transmissible by their nature. b. Are not transmissible by stipulation of the parties. c. Are not transmissible by provision of law. d. All of the above CS Scanned with CamScannerChapter 1 - General Provisions d. None of the above 37. The parties fulfill or perform the terms agreed upon in the contract, culminating in its extinguishment. a. Preparation b. Consummation c. Perfection d. None of the above 38. One of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it. a. Pledge b. Deposit c. Formal contract d. Commodatum 39. Those in which one of the parties proposes to give to the other a benefit without any equivalent or compensation./5 a. Onerous b. Formal c. Unilateral d. Gratuitous 40. Those where each of the parties acquires an equivalent of his prestation and such equivalent is pecuniarily appreciable and already determined from the moment of the celebration of the contract. a. Unilateral b. Commutative c. Aleatory d. Gratuitous 41. A sent B a letter wherein the former offered to sell his car to the latter for Php 1M. B signed to show intention that he may buy the same. In A's letter, he gave B two weeks to raise the amount. After one week, A raised the price to Php 1.5M. Can B compel A to accept the Php 1M first offered by A and deliver him the car? a. Yes, since there was already offer and acceptance. b. Yes, because A cannot change his offer without the consent of B. C. Yes, because A cannot withdraw the offer within two weeks as he is under estoppel. d. No, because there was no acceptance yet of the offer. $2. The creditor is given the right to retain his debtor's movable property in his possession, or in that of a third person to whom it has been delivered, until the debt is paid. a. Pledge CS Scanned with CamScanner b. Deposit