QUIZ DEC 02, 2015

1. What are things that must be disclosed by a bank to the borrower prior to the
approval of a loan?
2. Pedro secured a P10,000,000.00 loan from Jose December 1, 2015 payable
after 6 months. Because they were good friends, they perfected the contract
orally. Based on what they have agreed upon, Pedro shall pay the principal
amount with an additional amount equivalent to 20% as interest.
a. After due date, what amount is legally demandable by Jose?
b. If Pedro paid only P10,000,000.00 can he still recover the interest as
the parties have agreed upon?
c. What is the remedy of Jose if Pedro paid only the principal amount?
d. Is the rate agreed upon usurious? Why?

QUIZ DEC 02, 2015

1. What are things that must be disclosed by a bank to the borrower prior to the
approval of a loan?
2. Pedro secured a P10,000,000.00 loan from Jose December 1, 2015 payable
after 6 months. Because they were good friends, they perfected the contract
orally. Based on what they have agreed upon, Pedro shall pay the principal
amount with an additional amount equivalent to 20% as interest.
a. After due date, what amount is legally demandable by Jose?
b. If Pedro paid only P10,000,000.00 can he still recover the interest as
the parties have agreed upon?
c. What is the remedy of Jose if Pedro paid only the principal amount?
d. Is the rate agreed upon usurious? Why?

QUIZ DEC 02, 2015

1. What are things that must be disclosed by a bank to the borrower prior to the
approval of a loan?
2. Pedro secured a P10,000,000.00 loan from Jose December 1, 2015 payable
after 6 months. Because they were good friends, they perfected the contract
orally. Based on what they have agreed upon, Pedro shall pay the principal
amount with an additional amount equivalent to 20% as interest.
a. After due date, what amount is legally demandable by Jose?
b. If Pedro paid only P10,000,000.00 can he still recover the interest as
the parties have agreed upon?
c. What is the remedy of Jose if Pedro paid only the principal amount?
d. Is the rate agreed upon usurious? Why?