Top 150+ Solved Review 2 MCQ Questions Answer
Q. For payment to extinguish the obligation:
a. The thing or service in which the obligation consists must be completely delivered or rendered.
b. Payment must not have been justifiably refused by the creditor.
c. Payment must be in legal tender.
d. All of the above.
Q. Which of the following is most likely incorrect?
a. Mr. D promised to deliver to Mr. C 100 bottles of Japanese red wine of a specified brand. Without the knowledge of Mr. D, production of the wine had been stopped. Despite earnest efforts, Mr. D could only deliver ninety (90) bottles. Mr. O’s obligation is deemed fulfilled.
b. In the immediately preceding letter (a), Mr. D could recover as though there had been a delivery of 100 bottles.
Q. Debtor owes Creditor P500,000. The debt is secured by a chattel mortgage on Debtor’s car. On the due date of the obligation, Creditor is paid by Third Person who has no interest in the obligation either as guarantor or surety. There is likewise no stipulation as to Third Person’s right to pay.
a. If Third Person pays without the knowledge or against the will of Debtor, Third Person may recover P500, 000 from Debtor even if the debt had been condoned to the extent of ½.
b. If Third Person pays with the Debtor’s knowledge and consent, Third Person may recover P500, 000 from Debtor even if the debt had been condoned to the extent of ½. If Debtor fails to pay, Third Person may foreclose the mortgage on Debtor’s car.
c. Same as letter “b” except that Third Person may not foreclose the mortgage on Debtor’s car, unless Creditor consents.
d. Same as letter “b” except that Third Person may not foreclose the mortgage on Debtor’s car because the mortgage was exclusively constituted in Creditor’s favor.
Q. Which among the situations below states a correct principle of law?
a. Third Person pays Debtor’s debt without intending to be reimbursed by Debtor. The payment will not extinguish the obligation even if accepted by Creditor if Debtor does not consent to the payment.
b. Third person pays Debtor’s debt without intending to be reimbursed by (c) Debtor. The payment will extinguish the obligation if Debtor does not consent to the payment.
c. Debtor is obliged to give Creditor a Rado watch. Since no Rado watch was available on the due date, Debtor decided to deliver a watch of a different brand more valuable than the one that is due. Creditor must accept the watch.
d. D owes C P20, 000. D pays B, brother of C. The payment is not valid even if it redounded to the benefit of C.
Q. Debtor owes Creditor P20, 000. On the due date of the obligation, Debtor could not pay. Debtor instead offered his TV set worth P20,000 in payment of the obligation. Creditor agrees.
a. There is no payment because the debt may only be discharged by the delivery of legal tender.
b. There is payment pursuant to a facultative obligation because of a substitution.
c. There is dation in payment or dacion en pago.
d. There is payment by cession.
Q. Mr. D owes Mr. Y P10, 000. On the due date, Mr. X offers a check in payment of the obligation.
a. The receipt of the check by Mr. Y extinguishes the obligation if the check is a certified one because it is as good as cash.
b. The receipt is not equivalent to automatic payment if the check is not a certified check.
c. Mr. Y has no reason to refuse the check if it’s fully funded as certified to by the bank.
d. Mr. Y cannot be compelled to accept the check.
Q. Where the debtor has various debts of the same kind in favor of the same creditor and on the due date the debtor does not have sufficient funds to cover all the debts, the debtor may avail of
a. tender of payment and consignation.
b. application of payment.
c. dation in payment.
d. cession in payment.
Q. When the characters of the creditor and debtor are merged in one and the same person, there is extinguishment of the obligation by,
a. confusion
b. compensation
c. novation
d. condonation or remission
Q. When there is a change in the object or principal conditions, an obligation is extinguished by
a. confusion
b. compensation
c. novation
d. condonation or remission
Q. It is that currency which the debtor can compel the creditor to accept in payment of all debts, public or private.
a. certified checks.
b. domestic money in any denomination.
c. legal treasury notes.
d. legal tender.
Q. The extinguishment of an obligation by the passage of time is
a. fulfillment of a resolutory condition.
b. prescription.
c. expiration.
d. annulment.
Q. Mr. Debtor is domiciled in Quezon City while Mr. Creditor is domiciled in Manila. Payment is to be made in
a. Quezon City, domicile of Mr. Debtor.
b. Manila, domicile of Mr. Creditor.
Q. Mr. Debtor owes Mr. Creditor as follows: P10, 000 due February 5; P10, 000 due March 5 and P10, 000 due April 5, all during the current year. Mr. Debtor has only P10, 000 and cannot pay all his obligations. If Mr. Debtor decides to pay P10, 000, the amount shall apply:
a. To the debt chosen by Mr. Creditor.
b. To the debt chosen by Mr. Debtor.
c. To the debt due on February 5 being the oldest debt.
d. To the debt due on April 5 if it is an interesting obligation.
Q. Mr. Debtor owes fifteen (15) persons substantial amounts of money. His financial situation indicates that his liabilities for exceed his assets. If Mr. Debtor cedes or assigns his properties to his creditors,
a. The creditors acquire ownership of the properties assigned or ceded.
b. The creditors shall sell the properties assigned and when sold, the debt of Mr. Debtor is deemed paid regardless of whether or not the net proceeds are equal to or less than the amount of the indebtedness.
c. The creditors shall sell the properties assigned and when sold, the debt of Mr. Debtor shall only be released to the extent of the net proceeds of the sale.
d. The cession or assignment shall extinguish the obligation whether or not the creditors sell the properties assigne
Q. Mr. Debtor owes Mr. Creditor P100, 000. On the due date, Mr. Debtor delivers a cashier’s check for the full amount. Mr. Creditor refuses to accept the check.
a. Debtor may make a consignation by depositing the amount due with any bank and in the name of Mr. Creditor.
b. Mr. Debtor may make a consignation by depositing the amount due at the disposal of judicial authorities before whom the tender of payment shall be proved in a proper case.
c. Mr. Debtor has no legal basis for making a consignation.
d. The creditor may be considered in mora accipiendi.