ps. the choices with ?? in the end are the choices that I think is the right answer

1. Statement I: Debtor's consent is required before credit is assigned. Statement II: A gratuitous assignment is in the nature of a donation.

Only Statement I is true.

Only Statement II is true.

Both statements are true.

Both statements are false.

2. Which describes the prescriptive period for conventional redemption?

It must be exercised within 1 year from registration of the sale

It must be exercised within 5 years from the conveyance by the widow or heir of the homestead owner

If with stipulation of the parties, same maximum period as with co-ownership

If without stipulation of the parties, within 4 years from the death of the vendee a retro

3. Ava owes Connor P10,000. Connor assigns his credit right to Bree for a consideration with notice to Ava. Which is NOT true?

Connor is the assignor

Bree is the assignee

Ava's new creditor is Bree

Connor warrants Ava's solvency to Bree

4. What is the remedy if the contract purports to be a pacto de retro sale when in fact it is an equitable mortgage? (A) reformation (B) rescission (C) specific performance (D) damages

5. A and B have adjacent urban lands. B offers to sell his land to C, who is yet to decide whether or not to accept it. A offers to buy the land from B instead. This is a case of:

Equitable mortgage

Pre-emption

Conventional redemption

Legal redemption

6. The following statements are true in a pacto de retro sale except:

The vendee a retro becomes the owner of the property subject of the sale.

The vendee a retro can sell or mortgage the property to a third person. ???

The vendee a retro can only sell or mortgage the property only after the expiration of the period of redemption.

The vendee a retro is subrogated to the vendor's rights and actions.

7. S and B entered into an absolute sale of a parcel of land. Until when can S repurchase the land?

Within 4 years from the date of the contract ???

Within 10 years from the date of the contract

Within 30 days from final judgment

Within 30 days from notice in writing by the vendor

None of the above ???

8. S is the adjoining owner of the property of B which is rural and is less than 1 hectare. If B sold his property to X, until when can S repurchase the property from X?

Within 4 years from the date of the contract

Within 10 years from the date of the contract

Within 30 days from final judgment

Within 30 days from notice in writing by the vendor ???

None of the above

9. A, B, and C are co-owners of a parcel of land. In a pacto de retro sale of the property to X :

A may exercise redemption of the entire property

C may exercise redemption of 2/3 of the property

B may exercise redemption of 1/3 of the property ???

X can be compelled to accept partial redemption

10. Which is NOT a condition for the exercise of the right of pre-emption or redemption of urban lands?

The urban land was bought merely for speculation. //

The piece of land is so situated that it has a variety of purposes to choose from. ???

The one exercising the right is an adjacent owner.//

The land is about to be resold, or that its resale has been perfected

11. S sold to B his land with right to repurchase. Before he could exercise his right, he died, leaving behind X & Y as his only heirs. May X and Y exercise S's right to repurchase?

Yes ??

No

12. S sold to B his land with right to repurchase. Before S could exercise his right, B died, leaving behind X & Y as his only heirs. S can exercise his right to repurchase:

The whole property as against X or Y

The whole property as against X and Y ???

Either of the above choices

Neither of the above choices

13. Anything of material value or usefulness that is owned by a person or company, or claims to sums which are owing:

Credit

Debt

Right

Liability

14. The change of a new debtor for the previous debtor with the credit remaining in the same creditor:

Assignment ???

Renunciation

Substitution

Subrogation

15. If in the immediately preceding question, C did not give notice of the assignment to D, but D has actual knowledge of the assignment. If D pays C, is the payment valid as to A?

Yes

No

16. In the assignment of his credit to A, what warranties does C make to A?

That D will pay his debt

That D's debt is valid and existing

Both of the above choices

Neither of the above choices

17. A assigns his hereditary rights to B. What warranty does A give to B?

That he will inherit properties.

That he is a legitimate heir.

Both of the above choices

Neither of the above choices

18. D owes C P1,000.00, with G as guarantor. C assigns his credit to T with notice given to D. In case D fails to pay T, may T enforce the guaranty of G?

Yes

No

19. Is there a right of legal redemption in sales of credit in litigation?

Yes, absolutely. ??

Yes, except as against a co-owner, creditor or possessor of the tenement.

No, this right is not available.

20. A promised to give his Samsung phone to B who promised to give his Huawei phone in exchange. It turns out that A is not the owner of the promised Samsung phone. Which statement is legally correct?

A must still deliver the promised Samsung phone to B.

B must still deliver the promised Huawei phone to A.

A is liable for damages incurred by B. ???

A and B have no liabilities against each other.

21. X is to deliver to Y his 500 square meter land located in La Trinidad in exchange to Y's 500 square meter land located in Itogon. If Y is evicted from ownership of the La Trinidad land, what is/are his remedy/ies against X?

To get back his Itogon land

To claim damages

To claim damages only if the Itogon land is no longer in the possession of X ???

All of the above choices

None of the above choices

22. Which is NOT a formality required by the Bulk Sales Law?

demanding and giving of a list of creditors

publication of said list ??

giving of actual or constructive notice to such creditors by record or otherwise

making of an inventory

23. Anton was allowed by his father to use the latter's land and to make improvements on it. He was also authorized to get profits from the improvements he made. One day, Anton bought certain materials needed for the improvement. Is the father liable for the payment of the materials purchased?

Yes, there is a contract of agency.

No, there is no contract of agency.

24. Ana gave Ben P10,000. Ben used the money as down payment to obtain equipment necessary for Ben's business from Cris. If Ben fails to pay the balance, can Cris recover from Ana?

Yes, there is a contract of agency.

No, there is no contract of agency.

25. Jose owns a sari-sari store. One day, while drinking milk tea, Jose fainted and bumped his head on the floor. He was rushed to the hospital and was in comatose for one month. While he was in a coma, Wally managed the sari-sari store. Is there a contract of agency?

Yes, there is a contract of agency. ???

No, there is no contract of agency.

26. Agent acts in the name and in representation of the principal:

Couched in general terms

Couched in specific terms

General

Special

Ostensible/Representative

27. X gave to Y a Special Power of Attorney to sell Y's land. The authority of X is:

Express

Implied

Apparent / ostensible

By operation of law

28. A, being the agent of B and acting under B's authority, was able to sell B's cellphone in A's own name. Which is legally correct?

A is liable for the sale.

B is a disclosed principal.

Both of the above choices

Neither of the above choices

29. R sold T's pair of shoes without T's authority but with T's knowledge and without his opposition before the sale. Which is legally correct?

There is agency formed by estoppel.??

There is no agency.

There is express agency.