Recissible Contracts. Multiple choice, 2-28. Need asap. Thank you!

Chapter 6 - Rescissiontra Example no. 2: X sold his house valued at P50,000 for only P10,090 because X did not know the true value of the house. a. Both contracts are rescissio b. Only No. 1 is rescissio C. No. 2 is voidable because there is an error d. Both contracts are valid and enforceable 13. The exhaustion of all remedies by the prejudiced creditor to collect claims due him before rescission is resorted to. a. Principal remedy b. Primary remedy C. Subsidiary remedy d. Secondary remedy 14. To defraud his creditor, A sold his house to X. When however the creditor wanted to collect his credit, somebody lent A enough money. Is the sale rescissio a. Yes, because it was entered into in fraud of creditors. b. No, because the creditor can collect the credit due him. C. No, because the debtor has become in good faith when he was lent enough money to pay his debts. d. Yes, because the debtor was in bad faith when he sold the house to X. 15. When the late E died, he left a lot, to his wife, F and their nine children, one of whom was W. To enable W and her husband H get a loan from Z Bank, F sold the whole lot to spouses H and W. Subsequently, H and W mortgaged the lot with Z Bank. After H and W failed to pay their loan, Z Bank foreclosed the mortgage on the lot and consolidated ownership in its name. On November 28, 1983 F and her eight children filed an action for declaration of nullity of documents against Z Bank and H and W. On December 27, 1984, Z Bank executed a deed of absolute sale of the subject lot in Q's favor. The deed of sale carried waiver of warranty against eviction. Q having since died, Q's heirs asked the trial court to award the lot to them and, should it instead be given to F's heirs, to allow Q's heirs to recover the lot's value from Z Bank. On December 16, 1992 the trial court rendered a decision, declaring Z Bank's sale to Q valid only with respect to the shares of F and W in the property. The RTC judgment became final on January 28, 1993. On June 10, 1998 Q's heirs filed an action against Z Bank for rescission of the contract of sale between Q and Z Bank and praying for the reimbursement of the price of P78,000 that she paid the bank plus damages. Is Q's action for rescission already barred by prescription? a. Yes, the law provides that prescription is four years from the time the action accrued. Since it accrued on January 28, 1993 when theb. Those where one of the contracting party is incapacitated. c. Those agreed upon in representation of absentees, if the latter suffer the lesion stated in the preceding number. d. Those undertaken in fraud of creditors when the latter cannot in any manner collect the claims due them. 27. G was appointed as the guardian of M who owns a parcel of land valued at Php 1M. M sold the land only for Php 0.7M to B. The contract was defective because: a. unenforceable b. rescissio c. voidable d. void 28. The following are rescission contracts, except: a. Those which are entered into by guardians whenever the wards whom they represent suffer lesion by more than one fourth of the value of the things which are the object thereof. b. Those which refer to things under litigation if they have been entered into by the defendant without the knowledge and approval of the litigants or of competent judicial authority C. Those covered by statute of frauds. d. Those undertaken in fraud of creditors when the latter cannot in any manner collect the claims due them.Chapter 6 - Rescissiontracts a. The plaintiff asking for rescission has a credit prior to the alienation, although demandable later. b. The debtor has made a subsequent contract conveying a patrimonial benefit to a third person. c. The creditor has other legal remedy to satisfy his claim. d. The act being impugned is fraudulent. 8. The following are the requisites for action to rescind contracts in fraud of creditors, except: a. The plaintiff asking for rescission has a credit prior to the alienation, although demandable later. b. The third person who received the property conveyed, if it is by onerous title, has been in good faith. c. The debtor has made a subsequent contract conveying a patrimonial benefit to a third person. d. The creditor has no other legal remedy to satisfy his claim. 9. The following successive measures must be taken by a creditor before he may bring an action for rescission of an allegedly fraudulent sale: a. Exhaust the properties of the debtor through levying by attachment and execution upon all the property of the debtor, except such as are exempt from execution. b. Exercise all the rights and actions of the debtor, save those personal to him. c. Seek rescission of the contracts executed by the debtor in fraud of their rights. d. Immediately file an action for annulment of sale. 10. The following are defective contracts, except: a. Rescission contracts b. Voidable contracts c. Void and inexistent contracts d. None of the above 11. To defraud his creditors, A sold his real property to B. B now seeks to register the sale. X, a creditor seeks to prevent the registration on the ground that it is a rescissiontract. Despite X's objection may the land be registered in B's name? a. No, because the contract is not rescissio b. No, because the sale is void. C. Yes because the contract although voidable is valid and binding. d. Yes, because the contract although rescission is valid. 12. Example no 1: Guardian of W, sold W's house valued at P50,000 for P37,500 or a lesion by 1/4 of the value.Chapter 6 - Rescission Contracts decision ousted the heirs from a substantial portion of the lot, the latter had only until January 28, 1997 within which to file their action for rescission. Given that they filed their action on June 10, 1998, they did so beyond the four-year period. accrued. b. No, because prescription is ten years from the time the action c. No, because prescription is four years from November 28, 1983. d. No, because prescription is four years from December 27, 1984. 16. Is a remedy granted by law to the contracting parties and even to third persons, to secure the reparation of damages caused to them by a contract, even if this should be valid, by restoration of things to their condition at the moment prior to the celebration of the contract. a. Annulment b. Ratification c. Enforceability d. Rescission 17. S sold to B his parcel of land worth one million pesos for only half a million pesos. After the sale and realizing his damage, S is now seeking to set aside the sale. Decide: a. The sale is valid, binding and enforceable. b. The contract is voidable because of mistake of the seller. c. It is rescission because of the lesion or damage suffered by S. d. The sale is valid but unenforceable. 18. A person, usually a minor, who is under a guardian's charge or protection. a. Guardian b. Absentee C. Representative d. Ward 19. Which of the following contracts is rescissi a. Those where one of the parties is incapable of giving consent to a contract. b. Those where both parties are incapable of giving consent to a contract . C. Those which are entered into by guardians whenever the wards whom they represent suffer a lesion of more than 1/4 of the value of the object of the contract. d. Those which are absolutely simulated or fictitious. 20. Entails the return of the benefits that each party may have received as a result of the contract. RatificationChapter 6 - Rescissiontracts 2. A made a donation to B. Later, A contracted several debts. What A has left as assets are much less than his present liabilities. May the donation be rescinded? a. No, because the debts were incurred after the donation. b. No, if A gave guaranty or mortgage for his debts. C. Yes, because the donation is void being in fraud of creditors. d. Yes, because the contract is unenforceable. 3. This means bringing the parties back to their original status prior to the inception of the contract. a. Ratification b. Mutual restitution C. Annulment d. Rescission 4. Three of the following are rescissionhich is not? a. Sale of property under litigation made by defendant without the consent of plaintiff or authority of the court. b. Those made to defraud creditors when the latter have no other means to recover their claims. C. Those agreed upon in representation of absentees, if the absentee suffers lesion by more than 1/4 of the value of the property subject of the contract. d. Contract of sale and the price is unusually inadequate resulting to lesion. 5. The action to rescind contracts in fraud of creditors. a. Accion subrogatorya b. Accion pauliana C. Accion redhibitoria d. Accion quanti minoris 6. Which of the following contracts is not rescissio a. Those which are entered into by guardians whenever the wards whom they represent suffer a lesion of more than 14 of the value of the object of the contract. b. Those executed in representation of an absentee, if the latter suffer a lesion more than 14 of the value of the object of the contract. c. Those where one of the parties is incapable of giving consent to a contract. d. Those undertaken in fraud of creditors when the latter cannot in any other manner collect the claims due them. 7. The following are the requisites for action to rescind contracts in fraud of creditors, except:Chapter 6 - Rescissiontracts b. Annulment C. Rescission d. Mutual restitution 21. An accion pauliana presupposes the following, except: 27 a. A judgment. b. The issuance by the trial court of a writ of execution for the satisfaction of the judgment. C. The failure of the sheriff to enforce and satisfy the judgment of the court. d. None of the above. 22. S owns an oil painting. Being in need of money, S sold the painting to B for P1, 000. After the sale it was discovered that the painting was valuable and worth P5,000. a. S may rescind the contract due to lesion or inadequacy of cause. b. S may annul the contract because of fraud. C. S may annul the contract on the ground of error. . B is entitled to the benefit of the contract because it is valid and binding. 23. The following instances are badges of fraud, except: a. The fact that the consideration of the conveyance is adequate. b. A transfer made by a debtor after suit has begun and while it is pending against him. c. A sale upon credit by an insolvent debtor. d. Evidence of large indebtedness or complete insolvency. 24. The following instances as badges of fraud, except: a. The transfer of all or nearly all of his property by a debtor, especially when he is insolvent or greatly embarrassed financially. b. The fact that the transfer is made between father and son, when there are present other of the above circumstances. c. The failure of the vendee to take exclusive possession of all the property. d. A sale upon credit by a solvent debtor. 25. It is when the debtor has more liabilities than his assets. a. Liquidity b. Inliquidity c. Solvency d. Insolvency 26. The following are rescission contracts, except: a. Those which are entered into by guardians whenever the wards whom they represent suffer lesion by more than one fourth of the value of the things which are the object thereof