Here are your latest answers:
Question 1
3. A gratuitous guaranty is:
Response: b. for free
Correct answer: b. for free
Score: 1 out of 1 Yes
Question 2
B pledged his Rolex watch to C for P4,000.00. B failed to pay C the P4,000.00 on
due date, C sold the Rolex watch at a public auction in an extrajudicial sale to the
highest bidder at P3,500.00. Which is correct?
Response: c. C cannot recover the deficiency of P500.00 unless there is stipulation.
Correct answer: c. C cannot recover the deficiency of P500.00 unless there is
stipulation.
Score: 1 out of 1 Yes
Question 3
X guaranteed the debtor fo Y to Z of P1,000,000. Later, Y failed to pay and Z
proceeded to collect from X. X proposed a compromise to pay only P950,000 to
which Z agreed. After payment, X demanded from Y his obligation to refund him.
How much will Y pay to X?
Response: d. P1,000,000 plus legal interest, expenses or damages if due.
Correct answer: d. P1,000,000 plus legal interest, expenses or damages if due.
Score: 1 out of 1 Yes
Question 4
It is a kind or real mortgage constituted voluntarily by the contracting parties.
Response: b. Conventional mortgage
Correct answer: b. Conventional mortgage
Score: 1 out of 1 Yes
Question 5
4. What is the right of the guarantor who pay without the consent of the principal
debtor?
Response: a. Right to reimbursement only
Correct answer: a. Right to reimbursement only
Score: 1 out of 1 Yes
Question 6
Which is not a similarity between pledge and mortgage?
Response: d. There must be delivery of property to perfect the contract
Correct answer: d. There must be delivery of property to perfect the contract
Score: 1 out of 1 Yes
Question 7
1. Which is not a characteristic of a contract of guaranty?
Response: b. Real contract
Correct answer: b. Real contract
Score: 1 out of 1 Yes
Question 8
5. What is the obligation of the guarantor if the debtor obliged to deliver unlicensed
firearms to the creditor failed to deliver the same?
Response: d. there is no valid contract of guaranty due to a void principal obligation
Correct answer: d. there is no valid contract of guaranty due to a void principal
obligation
Score: 1 out of 1 Yes
Question 9
Guaranty is not extinguished by the following:
Response: c. death fo the debtor
Correct answer: c. death fo the debtor
Score: 1 out of 1 Yes
Question 10
it is the right of the guarantor to be free from execution of his properties until the
creditor has exhausted the properties of the debtor.
Response: b. Benefit of excursion
Correct answer: b. Benefit of excursion
Score: 1 out of 1 Yes
Question 11
Which is not a qualification of a guarantor?
Response: c. insolvency
Correct answer: c. insolvency
Score: 1 out of 1 Yes
Question 12
The right of exhaustion is not available to the guarantor if:
Response: c. the debtor becomes insolvent.
Correct answer: c. the debtor becomes insolvent.
Score: 1 out of 1 Yes
Question 13
it is a right of a mortgagor in a judicial foreclosure to redeem the mortgage
property after his default in the performance of the conditions of a mortgage but
before the sale mom the mortgaged property or confirmation of the sale by the
court.
Response: c. Equity of redemption
Correct answer: c. Equity of redemption
Score: 1 out of 1 Yes
Question 14
A executed a contract of pledge wand gave B P200,000. B delivered to A, his watch
worth P50,000 and his car worth P150,000. later, B tendered to A an amount of
P150,000. What will be the obligation of A?
Response: d. will not release the things pledged for the total amount of the loan is
not yet paid.
Correct answer: d. will not release the things pledged for the total amount of the
loan is not yet paid.
Score: 1 out of 1 Yes
Question 15
If X is a guarantor for the debtor of Y of P10,000 to Z, which of the following is a
valid obligator fo the guarantor?
Response: X can declare that he is responsible to pay only P5,000 for Y still have
P5,000 in his account which Z should first collect
Correct answer: X can declare that he is responsible to pay only P5,000 for Y still
have P5,000 in his account which Z should first collect
Score: 1 out of 1 Yes
Question 16
I. Chattel mortgage is indivisible
II. Pledge is constituted only on personal property
Response: d. Only the second statement is true
Correct answer: d. Only the second statement is true
Score: 1 out of 1 Yes
Question 17
A borrowed P100,000 from B with A’s ring given to B by way of pledge. It was
stipulated that in case of non-payment on due date, the ring would belong to B. This
forfeiture is called:
Response: c. Pactum Commissorium
Correct answer: c. Pactum Commissorium
Score: 1 out of 1 Yes
Question 18
62. A, B and C obtained a loan from Donnabel in the amount of P120,000. To
secure the debt, A pledged his cellphone, B his laptop computer and C his
wristwatch. A then paid his share amounting to P40,000. Which of the choices are
correct statements?
I. A, B, & C are jointly and severally liable to Donnabel.
II. The obligation of A , B & C are joint.
III. A may demand the return of the cellphone after paying his share of the debt
Response: c. I & III are false
Correct answer: c. I & III are false
Score: 1 out of 1 Yes
Question 19
I. In suretyship, the surety is solidarity liable with the debtor
II. In guaranty the guarantor is subsidiarily liable to the debtor.
Response: a. Both statements are true
Correct answer: a. Both statements are true
Score: 1 out of 1 Yes
Question 20
D pledged his GT fury full suspension motorbike to C for P250,000. D was unable
to pay the obligation. C filed the case and was able to secure a judgment in court
favorable to him and due to the failure by D to pay the award, the bicycle was sold
at a public auction. How much will C recover from D if the highest bidder bought
the bicycle for P200,000?
a.
b.
c. d. C can recover the deficiency of P2,000.
Response: d. C can recover the deficiency of P50,000 even if there is no stipulation
for the court judgment needs to be satisfied.
Correct answer: d. C can recover the deficiency of P50,000 even if there is no
stipulation for the court judgment needs to be satisfied.
Score: 1 out of 1
