Actual Cpa Board Examinations

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<p>PART I 1. This special form of payment is the conveyance of the ownership of a thing as accepted equivalent for the performance of an obligation to pay money. a) dation in payment or dacion en pago c) tender of payment and consignation b) assignment of property or cession en pago d) application of payment As a condition for the granting of the loan amounting to P100,000.00, the creditor required G and H to guarantee the debtors obligation. G was also required to mortgage his car to the creditor as security for the guaranty. G and H agreed and the contract of loan with mortgage on the guaranty was signed by the creditor, debtor and G. (items 2 5) 2. If the debtor is already insolvent on the maturity date of the loan, but G cannot pay upon demand by the creditor, can the mortgaged car of G be foreclosed? a) Yes because he signed the contract of loan with mortgage on his guaranty b) No, because the mortgage on his guaranty is more onerous than the principal obligation c) Yes, because the contract is the law between the parties d) No, because H has no security on his guaranty 3. In connection with No. 2 above, Can G and H invoke their right to the benefit of excussion? a) No, because, the guaranty of G is secured by a mortgage b) Yes, because the said benefit is always available to the guarantor or guarantors c) No, because the benefit of exhaustion is extinguished when the debtor becomes insolvent d) Yes, pursuant to the benefit of division 4. If G will be convicted of estafa, can the creditor require the debtor to replace G by another guarantor? a) Yes, because G no longer possesses the qualifications required of a guarantor b) No, because there is still another guarantor, who is H c) Yes, because that is a right granted by law to the creditor d) No, because the creditor designated G to be the guarantor 5. If the creditor demanded payment from H, can H be compelled to pay? a) Yes, for the full amount of the loan b) Yes, for the amount proportional to his obligation as a joint guarantor c) No, because the mortgage of Gs car makes the guaranty void d) No because the guaranty is not enforceable against him 6. When may the lessee in lease of rural land demand for a reduction of the rent? a) When there is no harvest due to the sterility of the land b) When there is loss of at least one half of the fruits due to fortuitous event c) In case of loss of more than one half of the fruits due to extraordinary fortuitous event d) In case of loss of at least one half of the fruits due to the lessors fault or negligence 7. The creditor shall have a right to indemnity for damages when, through the fault of the debtor, all the things which are alternatively the objects of the obligation have been lost or compliance of the obligation has become impossible. The indemnity shall be fixed taking as basis: a) the value of the least expensive thing b) the value of the most expensive thing c) the value of the last thing which disappeared d) the value of the first thing which disappeared 8. Which of the following is not a characteristic of voluntary deposit? a) Generally, the depositary cannot use the thing deposited b) Generally, it is an onerous contract c) Its principal purpose is safekeeping d) Only movable things can be the subject matter of the contract 9. In the following cases, the bailee is liable for the loss of the thing loaned even if it should be lost through a fortuitous event, except: a) if he devotes the thing for a different purpose b) if he is already in delay in returning it c) if he lends or leases the thing to any other person d) if being able to save either the thing borrowed or his own, he preferred his own interest 10. M saved the car of N from imminent destruction when the building where the car was parked caught fire. M pushed the car of N and deposited it in his garage. What principle of law governs the relations between M and N? a) voluntary deposit b) solution indebiti c) negotiorum gestio d) commodatum st 11. 1 - A person can never be held liable for the negligent act of another. 2nd - Whenever damage is suffered by a person due to the act of another, the injured person is entitled to damages. a) Only 1st is true b. Only 2nd is true c) Both are true d) Both are false 12. S was on his way to deliver a truckload of various fruits ordered by his customer, B when his truck was hit by a speeding passenger bus driven by Y resulting to the destruction of the fruits and damage to the truck. S filed action for damages against Y. B also demanded damages from Y representing the profit that he could have earned from the sale of those fruits ordered by him. However, B could not prove the amount of monetary loss suffered by him. Can the court award damages to B? a) No, because the amount of actual damages must be proven by the plaintiff</p> <p>1</p> <p>b) Yes, because of the principle of res ipsa loquitor c) No, because there shall be no basis for the amount of damages to be awarded d) Yes, because no proof of damages is necessary in case or moderate damages 13. X and Y are solidary debtors of A, B, C and D, joint creditors to the amount of P8,000.00. How much can A collect from X? a) A could recover P4,000.00 from X. A in turn has to give to B, C and D P1,000.00 each b) A could recover P2,000.00 only from X c) A could recover P1,000.00 only from X d) A could recover P8,000.00 from X. A in turn has to give to B, C and D P2,000.00 each 14. Mr. D owes Mr. C P150,000.00 due on August 31, 2010. Mr. D executed a mortgage in favor of Mr. C on Mr. Ds building to guarantee the obligation. On August 10, 2010, the mortgaged building was totally lost due to a strong typhoon. On August 12, 2010, Mr. C demanded payment from Mr. D. Is Mr. Cs demand valid? a) No, the obligation is one with a definite period, thus the creditor cannot demand fulfillment of the obligation as such would be prejudicial to the rights of the debtor. b) No, the obligation is extinguished because the guaranty is lost through a fortuitous event c) Yes, the debt becomes due at once because the guaranty was lost even through a fortuitous event, unless the debtor can mortgage another property that is equally satisfactory d) Yes, the debt becomes due at once because, from the tenor of the obligation, the benefit is given solely to the creditor thereby giving the creditor the right to demand performance even before the maturity date. O allowed L to reside in his vacant apartment at an agreed compensation of P2,000.00 per month without a written contract. The stipulated term of their oral contract is five (5) years. (Items 15 -18) 15. If L will die five months after the contract, can O validly demand the immediate members of his family to vacate the house? a) No, because the right under a lease contract is transmissible to the heirs b) Yes, because lease is a personal contract which is extinguished by the death of either party c) Yes, they are not parties to the contract of lease d) No, because they are extension of Ls personality 16. If O will ask L to vacate the house two years after the contract, can L invoke his right to use it for a stipulated period of five years? a) Yes, because their contract is the law between them b) Yes, because the obligation under a perfected contract must be complied with in good faith c) No, because O is the owner of the house, who has the right to enjoy the same d) No, because the contract is unenforceable being orally agreed upon 17. If L will assign the lease to his married son, is the assignment valid? a) Yes, because his son is a member of his family b) No, because assignment is not allowed without the lessors permission c) Yes, because in assignment, the original lessor is still a party to the lease contract d) No, because L will unduly benefit at the expense of O 18. If L introduced necessary improvements on the apartment, what right is available to O regarding those improvements after the expiration of the lease contract? a) He may pay one half of their value at the time of the expiration of the lease b) He may ask the lessee to remove those improvements c) Only the right under letter b) d) Either of the rights under letters a) and b) 19. O is obliged to give R his Mitsubishi, 4-door sedan lancer with plate number NBA 123 on September 30, 2010. On October 10, 2010, O has not yet delivered the car which was totally destroyed by an earthquake on such date. Is O still liable?. a) No, the obligation is extinguished. The specific thing was lost due to fortuitous event and no demand was made by R b) Yes, O is in legal delay. R can claim damages c) No, even O is already in default, he can plead impossibility of performance d) Yes, R can instead demand for another car of equivalent value from O 20. A obliges himself to pay X P100,000.00 in 30 days plus a penalty of P20,000.00 if A fails to pay the obligation in due time. A failed to pay the obligation in 30 days. X can demand from A: a) the principal of P100,000.00 plus P20,000.00 penalty b) the principal of P100,000.00 plus P20,000.00 penalty, plus legal interest c) the principal of P100,000.00 plus legal interest d) the principal of P100,000.00 plus P20,000.00 penalty, plus legal interest, plus damages 21. When the period is on or before the date, the debtor has the benefit of the period. This benefit is lost and the obligation becomes demandable when: a) the debtor attempts to abscond b) after contracting the obligation, the creditor suspects the debtor to becoming insolvent</p> <p>2</p> <p>c) the guaranty given by the debtor is not acceptable to the creditor d) it is already beyond the maturity date 22. The depositary can validly refuse to return the thing deposited upon demand by the depositor in the following cases. Which is the exception? a) When there is notice by a third person of the opposition to return the thing b) When the depositor has an unpaid obligation to the depositary c) When the thing deposited is stolen and depositary knows who the owner is d) When the depositor fails to pay the deposit fee 23. Bertulfo and Claudio promise to deliver a particular car valued at P100,000.00 to Manuela on or before September 15, 2010. September 15, 2010 came and upon demand by Manuela for a delivery from Bertulfo and Claudio, Bertulfo was willing to deliver but Claudio refused to deliver. In the case at bar: a) an action for specific performance will lie against Claudio only b) both Bertulfo and Claudio shall be liable for P50,000.00 each with damages c) Bertulfo shall be liable for P50,000.00 without damages and Claudio shall be liable for P50,000.00 and damages d) an action for specific performance will lie against Bertulfo only 24. Mr. Debtor owes Mr. Creditor, who has two legitimate emancipated children, P30,000.00 payable on December 31, 2009. a) If Mr. Debtor died before December 31, 2009, Mr. Creditor cannot collect from the heirs of Mr. Debtor b) If Mr. Debtor died before December 31, 2009, Mr. Creditor can collect from the heirs of Mr. Debtor c) If Mr. Creditor died, his two legitimate emancipated children cannot recover from Mr. Debtor his obligation d) If both Mr. Debtor and Mr. Creditor died, the heirs of Mr. Creditor cannot collect from the heirs of Mr. Debtor 25. Which of the following is not correct about commodatum? a) Generally, it is personal in character b) Generally, it is a gratuitous contract c) Generally, only consumable goods may be the object of the contract d) Generally, the bailee cannot lend nor lease the object of the contract 26. On September 5, 2009, Jose Dizon of Angeles City is obliged to give Ruben Samia, Jose Dizons only red crew cab. There was no delivery until September 26, 2009 when the garage of the red crew cab collapsed due to typhoon Ondoy and the red crew cab was totally destroyed. After the crew cab was destroyed and lost, is Jose Dizon still liable? a) No, even if Jose Dizon was already in default, he could plead impossibility of performance b) Yes, the obligation to deliver the crew cab is changed to pay the equivalent value because Jose Dizon is in legal delay c) No, because there was no demand by Ruben Samia to deliver the crew cab and the specific object was lost due to fortuitous event. d) Yes, because the contract is perfected 27. A condition, which if imposed on an obligation will be disregarded and will therefore make the obligation immediately demandable: a) If Juan will commit suicide c) If Juan will kidnap and kill Pedro b) If Juan will pass the bar examination d) If Juan will not rise from the dead 28. X, a minor sold to Y his parcel of land for P100,000.00. From the proceeds of the sale, X deposited P30,000.00 in the bank, spent for food, clothing and other personal expenses P20,000.00, joined a tour abroad costing P20,000.00, lost in gambling P20,000.00 and loaned P10,000.00 to Z who became insolvent. Upon reaching the age of 21 years, X files an action for annulment, which the court granted. Y was required to return the land to X and X was made to return to Y the amount of: a) P30,000.00 b) P40,000.00 c) P80,000.00 d) P70,000.00 29. When A voluntarily takes charge of the neglected business of B without the latters authority where reimbursement must be made for necessary and useful expenses, there is a: a) quasi-delict b) quasi-contract c) negotiorum gestio d) solutio indebiti 30. A offered to sell his lot to B for P100,000.00. In his offer to sell it was stated that B is given 60 days to prepare the P100,000.00 and as soon as B is ready with the money, A will execute a deed of sale. Before the end of 60 days, A informed B that the price of the lot was increased to P120,000.00. May B compel A to accept P100,000.00 offered previously by A and make him execute the deed of sale? a) Yes, because A already signed his offer b) No, because B never signified his acceptance of the As offer c) Yes, because there was actual meeting of minds between the parties d) No, because the offerer has the right to fix the terms of the contract 31. Mr. Santos offered to sell his land to Mr. Calma for P100,000.00. Mr. Calma accepted the offer and paid Mr. Santos P100,000.00 and Mr. Santos delivered the owners duplicate of the Transfer Certificate of Title of the land, Mr. Calma wishes to register the land in his name but the Register of Deeds asked Mr. Calma for the Deed of Sale. What can Mr. Calma do?</p> <p>3</p> <p>a) Mr. Calma may compel Mr. Santos to return the payment because the contract is enforceable b) Mr. Calma may sue Mr. Santos to return the price under the legal maxim no one may enrich himself at the expense of another c) Mr. Calma may compel Mr. Santos to execute the Deed of Sale because the contract is valid d) Mr. Calma may occupy and use the land as a buyer in good faith 32. Mrs. Gomez sold and delivered her diamond ring to Mrs. Pangan. It was agreed upon that after 10 days, Mrs. Pangan will name and fix the price. On the tenth (10th) day, Mrs. Pangan called up by telephone Mrs. Gomez and stated the price at P10,000.00. Mrs. Gomez agreed. Is the sale perfec...</p>


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