Question 21 of 50 1 Point D Borrowed P30,000 from C. The debt is secured by the Guaranty of G1, G2 and G3. On the due date, D failed to pay because of insolvency. As a result G1 paid C 30,000. However, G3 is insolvent. How much may G1 demand from G2 as reimbursement? Select the correct response: O c. P10,000 d. nothing b. P15,000 O a. P30,000Question 28 of 50 1 Point P, the owner of a piece of land gave written authority to A to sell the land. The authority was not acknowledged before a notary public. The sale however was in public instrument. What is the status of sale? Select the correct response: O b. Valid and Enforceable d. Voidable c. Unenforceable O a. VoidQuestion 29 of 50 On July 'i, 2019 D borrowed a non-interest bearing loan of P100000 00 from C, The loan iS payable on July 1, 2020, On July 1, 2020 D paid C not only the principal of P100000 00, but a one-year interest of P6000 00 which he thought was due, Select the correct response: 0 b, D can recover only the interesl of P600000 0 a D can recover the principal of P100000 00 and the inlerest of P000000 0 d. D can recover the interest of P600000 plus the interest thereon from the time he made the payment. 0 c. 0 cannot recover any amount from C including the interest Since he is already estoppel Question 31 of 50 The following are modes of negotiation of a negotiable document of title: 1. Mere delivery Il. Indorsement in blank Ill. Indorsement to bearer IV. Indorsement to a specified person Select the correct response: O b. I, Ill and IV. O d. I, II, Ill and IV O c. I, ll and IV O a. I, ll and II.Question 32 of 50 Which of the following statement does not pertain to EARN EST MONEY? Select the correct response: 0 d. It is paid for a sale that is yet to be perfected. O h. It is proof of perfection of the contract of sale O c. It is given to the seller to bind the bargain. O a. It is a part of the purchase price Question 34 of 50 A, B, and C are jointly liable to give D a car valued at P240,000.00. On the date of delivery, A and B are willing to deliver but C is not. What is the Liability of B to D in case of non-fulfillment of C? Select the correct response: O b. B is liable for P240,000 only. 3. O c. B is liable for P240,000 plus damages by reason of non fulfillment of C. 4. O a. B is liable for his share of P80,000 plus damages by reason of nonfulfilment of C.. O d. B is liable for his share of P80,000.Question 35 of 50 Assets, in cash or in kind, to be turned over to the closed bank's stockholders of record, in proportion to their interest in the closed bank as of date of closure, after payment in full of liquidation costs, fees and expenses, and the valid claims and surplus dividends to all the creditors Select the correct response: O residual assets disposal of assets monetary instrument O tangible assetsQuestion 36 of 50 1 Point The actions and proceedings provided in the preceding subsections may be undertaken by the Corporation if, in its opinion, an insured bank or its directors or agents have violated, are violating or about to violate any provision of this Act or any order, rule or instruction issued by the Corporation or any written condition imposed by the Corporation in connection with any transaction with or grant by the Corporation. Answer? Select the correct response: O True O FalseQuestion 37 of 50 Warranty against eviction and warranty against hidden defects and encumbrances are what kind of elements of a contract of sale? Select the correct response: O a. accidental elements O all of the foregoing O b. natural elements O c. essential elementsQuestion 38 of 50 The deficiency in the foreclosure of chattel mortgagecan be recovered in the following cases except: Select the correct response.- 0 b. When the chattel mortgage was constituted to secure the payment of the price of personal property sold in installments. O No c. When the chattel mortgage was constituted to secure a loan obligation O a. when the chattel mortgage was constituted on the sale of personal property sold on a straight term. d. None of the foregoing
