Quiz

June 11, 2019

1. A. What is the incontestability clause?

B. On August 30, 1993, the insurer issued a policy contract. On April 10, 1996, the
insured died. The spouse filed a claim before the insurer but was denied on April
16, 1997. Was the denial proper? Explain.

2. A. Distinguish a promissory letter from a bill of exchange.

B. Ben issued a promissory note in favor of Benito. The promissory note reads: “I
promise to pay Benito or to his order the sum of P25,000.00 with monthly interest
of 1% on August 11, 2019.” Benito forwarded the promissory note to Billie to
cover his loan obligation of P25,000.00. Did Benito’s obligation to Billie
extinguished? Reasons.

3. Anton rides a public utility vehicle to and from work. One fine night, as Anton
was in Philcoa, he was stabbed by Anthony with an ice pick. Unfortunately,
Anthony hit a vital organ and caused Anton’s excessive bleeding. Anton was
rushed to the hospital but died after the IV was inserted. Aggrieved, Anton’s
family filed a case against the public utility vehicle operation, Amante. Decide on
the case.

4. Who is a holder due in course?

5. Jimmy filed an illegal dismissal complaint against Charo, the President of ABS-
CBN, a corporation duly registered under Philippine law. Will the complaint
prosper? Explain.

6. A. What is the Trust Fund doctrine?

B. What is a corporation by estoppel?

C. Andres is the Legal officer of San Miguel Corporation. He filed a collection

case against Asia Brewery Incorporated. Is the complaint valid? Explain.

7. The limited liability rule provides that when the vessel is totally lost, the liability
of the shipowner or agent for damages is extinguished. What are the exceptions
to this rule, if any?

8. A. Distinguish patent, trademark, and copyright.

B. In Great White Shark’s logo, there is an outline of a shark formed with the use
of green, yellow, blue, and red lines or strokes. Meanwhile, Caralde’s mark, the
shark is illustrated in letters outlined in the form of a shark with the letter “S”
forming the head, the letter “H” forming the fins, the letters “A” and “R”
forming the body, and the letter “K” forming the tail. Is there similarity between
the two logos? Discuss.

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