ARELLANO LEGARDA BUSINESS LAW01 MIDTERM EXAM

I.
1.

Multiple Choice Questions in Obligations (10)

It is the juridical relation resulting from lawful, voluntary, and unilateral acts by virtue of
which the parties become bound to each other to the end that no one shall be unjustly
enriched or benefited at the expense of another.
a.
b.
c.
d.

2.

Agreement
Vinculum juris
Contracts
Quasi-Contracts

This takes place when something is received when there is no right to demand it, and it was
unduly delivered thru mistake.
a.
b.
c.
d.

3.

This happened when the creditor makes a demand and the obligor fails to deliver the thing.
a.
b.
c.
d.

4.

Negligence
Mora solvendi
Mora accipiendi
Compensatio morae

Demand is not necessary to incur delay when:

a.
b.
c.
d.

5.

Solutio Indebiti
Negotiorum Gestio
Vinculum juris
Prestation

Creditor refuses the performance without just cause.

The debtor is guilty of non-performance.
Time is the controlling motive
If the obligation bears interest

It is a future and certain event upon the arrival of which the obligation (or right) subject to it
either arises or is terminated.

a. Fortuitous events

b. Condition

c. Period d. Date and time

6. A period designated in the obligation is presumed established for the benefit of:
a. Both the debtor and the creditor

b.Benefit of the creditor only

c.Benefit of the debtor only

d.None of the above.

7. An obligation the fulfillment of which is not subject to a condition but immediately demandable:
a.Conditional obligation

b.Obligation with a period

c.Pure obligation

d.None of the above

8. Which DOES NOT correctly complete the sentence? An obligation is a juridical necessity
a.to give

b.to do

c.not to give

d.not to do

9. In a facultative obligation, loss of the substitute obligation when the choice was yet communicated
results to:
a. the obligation shall be extinguished

b. the debtor shall be obliged to pay damages

c. the impairment shall be borne by the creditor

d. None of the Above

10. When the debtor is given the option to choose which prestation to perform the obligations is a
a. Facultative

II.

b. Pure

c. Alternative

d. Obligation with a Period

Identification and Enumeration (15)

1-4. Give 4 modes of extinguishment of an obligation.
5-9. What are the 5 sources of an obligation?
10-11. What are the 2 types of involuntary breach of obligation?
12.-15. What are the 4 types of voluntary breach of obligation?

III.

Case Study (10)

Ping and Pong wanted to buy a Carabao plus. To be able to buy the said animal they obtained a joint
loan worth 500,000.00 from their friends Pik and Pak who loaned a joint amount of money
Pak decided to ask payment from the loan of Ping and Pong. How much can Pik ask Ping and Pong to
pay him for the said loan?