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c.
d.
c.
d.
18. Type of partnership in which the partners enjoy practically all the
profits:
a. General partnership
b. Limited partnership
c. Universal partnership
d. De facto partnership
19. A partnership which compromises all that the partners may acquire
by their work or industry during the existence of the partnership is:
a. Universal partnership of present property
b. Universal partnership of profits
c. Particular partnership
d. General partnership
Ans. B
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c. Void
d. Unenforceable
Ans. B
26. Which of the following contracts may not be annulled on ground of
mistake?
a. Eddie sold to Atty. Malaya 200 copies of Transfer and Business
Taxes by Ampongan at P250 each. Atty. Malaya paid P50,000 for
the books but the amount appeared in the receipt issued was
P45,000 only.
b. ARTS Review Center hired the services of Atty. Dipasipa as
lecturer in Business Law. His resume which made as the basis
for hiring him indicates that he is a CPA-Lawyer when in fact he
is not a CPA although he graduated with a degree of Bachelor of
Science in Accountancy.
c. A owns a piece of untitled land which to his knowledge
measures 15 hectares and sold it to B for P300,000 and B
thinking it really contains 15 hectares bought it from A.
d. None of the above.
Ans. A
27. France offered to sell her cellular phone for P10,000 to her friend,
Serra. Serra accepted the offer but is willing to pay only P8,000. Is
there a perfected contract?
a. Yes, for a price of P10,000.
b. Yes, for a price of P8,000.
c. No, because the acceptance was qualified and it constituted a
counter-offer.
d. No, because the offer was rejected.
Ans. C
28. Tindero sold to Mamimili the computer owned by Mabait without
Mabaits authority. The contract is
a. Perfectly valid
b. Voidable
c. Void
d. Unenforceable
Ans. D
29. Ayubo owes Babagay P200,000 payable December 31, 2008. On
December 1, 2008, Ayubo died leaving property worth P100,000 to
his only son, Cayat. Cayat should pay Babagal
a. P100,000
b. P200,000
c. P50,000
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d. Nothing
Ans. A
30. It takes place when the parties do not intend to be bound at all by
their agreement
a. Apparent contract
b. Absolutely simulated contract
c. Relatively simulated contract
d. Deed of assignment
Ans. B
31. Simulation of a contract may be absolute or relative. It is relative
when
a. The parties do not intend to be bound at all.
b. The contract is void.
c. The parties conceal their true agreement.
d. Answer not given
Ans. C
32. Three of the following contracts are void. Which one is not?
a. Oral contract of partnership of three partners and capital
contribution is more than P3,000 in cash.
b. Written contract contemplating impossible services.
c. Oral contract of partnership where real estate is contributed as
capital.
d. Agents authority to sell land is given orally.
Ans. A
33. When the written contract does not express the true intent of the
parties as per their meeting of the minds due to mistake, fraud,
accident or inequitable conduct the remedy isa. Ratification
b. Reformation
c. Rescission
d. Annulment
Ans. B
34. Rescission of contract can take place in this case:
a. When the thing which are the object of the contract are legally
in the possession of third person who acted in bad faith.
b. When he who demands rescission can return whatever he may
be obliged to restore.
c. When the third party seeking resolution can perform only as to
part and as to remainder.
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