OBLIGATION ADN CONTRACT

1. Contracts which are susceptible of ratification*

A. Void and voidable contracts

B. Voidable and rescissible contracts

C. Rescissible and unenforceable contracts

D. Unenforceable and voidable contracts

E. Void and rescissible contracts

2. James, the representative of Diana, an absentee, sold Diana's bakery equipment for P1.4 million. The equipment had a value of P2million. The sale is in a private instrument. The sale is*

A. voidable

B. rescissible

C. unenforceable

D. void

3. If Gon insures his building against fire with Hisoka Insurance Company and the building is thereafter razed by fire without the fault of Gon, Hisoka Insurance Company is*

A. not liable to Gon because the building is lost by fortuitous event.

B. liable to Gon because of the nature of the obligation.

4. Jose promised Pedro that he will repair his house. This is an example of an obligation that is*

A. resolutory

B.casual

C.joint

D. pure

5. Andres writes Jose offering to sell a piece of land for P10,000 and at the same time receives from Jose a letter offering to buy the said land for P10,000. Is there a perfected contract?*

A. There is a perfected contract because there is a "crossing of letters"

B. There is no perfected contract because the agreement was not stated in writing.

C. There is no perfected contract because it is necessary that one party should accept the offer made by the other.

D. There is a perfected contract because the object is the same.