Business tourism Law with Obligation and Contracts Finals

Choose the best answer. Write only the Letter of your choice. 1. What is a contract? a. Is a meeting of minds b. Agreement c. Binding stipulation d. Is a meeting of minds between 2 persons whereby one binds himself, with respect to the other, to give something or to render some service 2. What are the essential elements of a contract? a. Object b. Consent c. Consideration d. Object, Consent and Cause 3. What is stipulation pour autrui? a. Relativity of contracts refers to the principle of the civil law that a contract can only bind the parties who had entered into it or their successors who have assumed their personality or their juridical position, and that as a consequence, such contract can neither favor nor prejudice a third person. b. Contract with a third party c. Contract by autrui d. None of the above 4. What is meant by consent? a. It signifies the concurrence of will of the contracting parties with respect to the object and the cause which shall constitute the contract. b. Signifies the meeting of the offer c. Assent of a party d. Agreement 5. Who among these people are incapacitated to give their consent to a contract? a. Mara, 14 years old daughter of a business tycoon b. Alexander, insane person c. Javier, deaf-mute who does not know how to write d. All of the above 6. What are the vices of consent? a. Mistake

b. Violence c. Intimidation, undue influence and fraud d. All of the above 7. It is when one or both of the contracting parties believe that a fact exist when in reality it does not. What is it? a. Mistake b. Mistake of law c. Mistaken identity d. Mistake of fact 8. It is an element of a contract maybe defined as the thing, the right or service which is the subject matter of the obligation which is created or established. a. Consent b. Matter c. Cause d. Object 9. Which among these cannot be the object of a contract? a. Things which are outside the commerce of men b. Intransmissible right c. Impossible things d. All of the above 10. The cause is the why of the contract or the essential reason which moves the contracting parties to enter into a contract. It is the immediate, direct and most proximate reason which explains and justifies the creation of a contract. Correct? a. NO b. YES c. Maybe d. I do not know. II. Define/Enumerate 1. 2. 3. 4. 5. 6. 7. Real contracts Statute of frauds In pari delicto Estoppel Enumerate the defective contracts Natural obligation Doctrine of reformation

8. Void ab initio 9. Consummation of contract 10. Contract III.

Mutya and Aris entered into a verbal contract whereby Mutya agreed to sell to Aris her only parcel of land for PHP 100,000 and Aris agreed to buy it. Aris went to the bank to withdrew his money and return to Mutya for the consummation of the contract.

1. Is the contract valid? 2. Supposed Mutya changed her mind and refused the money, Will the action of Aris for specific performance prosper in court? Considering that the sale was not properly written in a proper instrument? Can the court enforce the contract against Mutya? 3. What kind of contract does the problem has?


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Salamat sa class na ito.. Cool kayo promise. Sana makatikim ako ng luto niyo someday heheheh God bless

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