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QUIZ II.

Both movable and


Credit Transactions immovable property may be
the object of deposit.
1. It is a contract where one of the
parties delivers to another, Which statement is correct?
either something not
consumable so that the latter a. I and II
may use the same for a certain b. I only
time and return it. c. II only
a. commodatum
b. mutuum 6. I. The bailor in commodatum
c. loan must be the owner of the thing
d. deposit loaned.
II. The depositor need not be
2. It is a contract where one of the the owner of the thing
parties delivers money or other deposited.
consumable things, upon the
condition that the same Which statement is not
amount of the same kind and. correct?
quality shall be paid. a. I and II
b. I only
a. Commodatum c. II only
b. Mutuum
c. Loan 7. That which is paid for the
d. Deposit principal at a certain rate fixed
or stipulated by the parties.
3. In commodatum, the death of
the bailee or bailor a. Simple interest
extinguishes the contract. b. Compound interest
c. Legal interest
a. True d. Lawful interest
b. False
8. That which the laws allow or
4. The bailee in commodatum do not prohibit, that is, the rate
acquires only the use of the of interest is within the
thing loaned including its maximum prescribed by law.
fruits.
a. Simple interest
a. True b. Compound interest
b. False c. Legal interest
d. Lawful interest
5. I. Both movable and immovable
property may be the object of 9. That which is imposed upon
commodatum. interest due and unpaid.

a. Simple interest
b. Compound interest
c. Legal interest
d. Lawful interest

9. That which the law directs to


be charged in the absence of
any agreement as to the rate
between the parties.

a. Simple interest
b. Compound interest
c. Legal interest
d. Lawful interest

10. B borrowed P1,000 from F


payable in one (1) year in palay
which shall be appraised at the
current market price at the
time and place of payment.
When the contract was entered
into, the price per cavan of
palay was P400.00. On due date
of the loan, the price increased
to P500.00.

In this case the value of the


palay shall be appraised at
_____.
a. P1,000
b. P500
c. P400
d. P1,500