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Year and Section:________________________


I. Multiple Choice Questions. Encircle the letter of the correct answer.


It is the meeting of the minds between two persons whereby one binds himself with respect to the other
to give something or to render some service.

A) Contract
B) Obligation
C) Condition
D) Period

It is the meeting of the minds between parties on subject matter and cause of contract.

A) Contract
B) Consent
C) Obligation
D) Condition

This takes place upon the concurrence of the essential elements of the contract:

A) negotiation
B) perfection
C) consummation
D) principal

This covers the period from the time the prospective contracting parties indicate interest in the contract
to the time the contract is concluded or perfected.

A) Principal
B) Perfection
C) Consummation
D) Negotiation
5. It means not only the delivery of money but also the performance of an obligation.
A) Payment
B) Loss of the thing due
C) Remission
D) Merger
6. It is essentially gratuitous, and requires the acceptance by the obligor.
E) Payment
F) Loss of the thing due
G) Remission or condonation
H) Merger
7. Which of the following is NOT a limitation of a contract.
A) Law
B) Morals
C) Obligation
D) Public policy
8. It is perfected by mere consent or upon the meeting of the minds upon the object and

consideration of

the contract.
A) Consensual contracts
B) Real contracts
C) Formal contracts
D) Solemn contracts
9. Which of the following is NOT a real contract.
A) Deposit
B) Pledge
C) Commodatum
D) Contract of sale
10. It is a contract that perfected upon delivery.
A) Consensual
B) Real
C) Formal
D) Solemn
II. Write T if the statement is True and F if the statement is False.
______1. Consent is manifested by the meeting of the offer and the acceptance upon the thing and
cause which are to constitute the contract.
______2. Acceptance may be express or implied.
______3. A void contract can be cured by ratification or by prescription.
______4. Unenforceable contracts can be ratified.
______5. The action for annulment of contracts shall be brought within 10 years.
______6. A contract is void if one of the parties is incapacitated or the consent was vitiated.
______7. Lesion is one of the grounds of rescissible contracts.
______8. Void contract produced no effect.
______9. Unenforceable contract is a defective contract.
______10. There is intimidation when in order to wrest consent, serious or irresistible force is
______11. Unemancipated minors can give consent.
______12. Minors are persons below 18 years old.
______13. If one party is a minor and the other is not, the contract is unenforceable.
______14. If both parties are minors, the contract is voidable.
______15. The parties to a contract may ask somebody else to represent them.
III. Enumeration.
1-3. Essential elements of a contract
4-9. Grounds for extinguishment of obligation
10-13. Classification of defective contracts
14-15. Give two void or inexistent contracts
IV. Essay.
Pedro, 15 years old rich kid, approached Petra, 16 years old, to buy the latters Hacienda consisting of
2,000 square meters in order for him to build his dream vacation house. Petra who is in need of money for her
college education in New York City agreed to the price offered by Pedro in the amount of P200 Million Pesos.
The two wrote in a clean bond paper their agreement that Pedro will pay Petra P200 Million pesos as
purchased price and Petra on the other hand will deliver to Pedro the Title of the Hacienda on October 25,
2015 and then signed it. The written agreement was kept by Pedro inside his Baul.
A) Is the contract valid? Why or why not?
B) When is a contract void?