PLEASE CHOICE THE LETTER OF A CORRECT ANSWERS

1.) The Action for the annulment of a voidable contract due to vitiated consent caused by mistake or fraud is four years counted from __

A. the date the contract is consummated

B. the date the contract is perfected

C. the date the mistake or fraud is discovered

D. the date the mistake or fraud is committed

2.) D owes C Php 50,000 at 12% interest per annum due on December 30, 2021. They stipulated that the interest earned will be given to X, a third person. Which of the following is true?

A. X must communicate his acceptance to D and C to be entitled to the benefit of the contract

B. the payment of interest to X must be subject of another contract signed by D, C and X

C. Acceptance of the payment of interest by X can either be express or implied

D. The interest will be payable to X despite his refusal to accept it

3.) 19. X sold to Y gold necklace which he misinterpreted to be 21k gold. Later Y found out that the necklace is only 12-K gold. The contract can be annulled on the ground of___

A. Mistake

B. Fraud

C. Undue Influence

D. Intimidation

4.) 20. A sold B in writing his land situated in Metro Manila for the amount of PHP1M. Is the sale valid?

a. Yes, since B accepted the offer of A

b. Yes, the sale of the land is in writing

c. No, since there is no actual payment of the land

D. no, the object of the contract is not determinate

5.) A is an absentee whose land was sold by B, the court-appointed administrator of A's properties, in writing to C, valued at Php1M for Php 600,000. The sale is____

A. valid

B. Enforceable

C. Voidable

D. Rescissible

6.) X, 15 years old, sold to Y, 16 years old, his only cellphone for the amount of Php 5,000. The contract is unenforceable. If the guardian of X subsequently ratifies the contract becomes___

a. voidable

B. Unenforceable

C. Rescissible

D. Void

7) When illegality of a contract constitutes a crime and both parties are guilty, such illegality procedures the following effects, excepts____

a. The contracts becomes void ab initio

B. The effects of the crime will be confiscated in favor of the government

C. Both parties will be criminally prosecuted

D. both parties shall have a right of action against each other

8.) M was sixteen (16) years old when G, his guardian, sold M's land for Php400,000 to B. the sale was made eight years ago and the land at that time had a value of Php600,00. At present, who can rescind the sale of the land?

a. None of M, G and B may rescind the contract since the action has prescribed

B. M, because he suffered lesion

C. B, because he is a party to the contract

D. G, because who entered the contract on behalf of M

9.) X, 15 years old, sold to Y, 16 years old, his only cellphone for the amount of Php 5,000. The contract is unenforceable because_____

a. It does not comply with the Statue of Frauds

B. It was executed by X in excess of his authority

C. It was executed by X without authority

D. both parties are incapable of giving consent to the contract

10.) Annulment is different from rescission, since annulment___

a. is a subsidiary remedy

b. is based on vitiated consent

c. requires that there is pecuniary damage to parties

D. may be filed by a third party