ST.

THOMAS MORE COLLEGE-CLARK

ANGELES CITY
MIDTERM QUIZ
BUSINESS LAW

NAME: Ramos, Berlin C. SECTION: BSA4C SCORE:_____

FILL IN THE BLANKS

1. Dacion en pago is the delivery and transmission of ownership of a thing by the debtor to the
creditor as an accepted equivalent of performance.
2. Tender of Payment is the offer made by the debtor to pay his obligation to his creditor.
3. Legal Tender is the money or currency which the debtor may compel the creditor to accept in
payment of a debt, whether public or private.
4. Negotiorum Gestio is the voluntary administration of the property of another without his
consent.
5. Quasi-Delict is a wrong committed without any pre-existing relations between the parties.
6. Conjunctive Obligation is an obligation where various prestations are due but the performance
of all of them is required in order to extinguish the obligation.
7. Novation is a mode of extinguishing an obligation which has a two-fold function. One is to
extinguish an old obligation, and the other to substitute a new one in its place.
8. Consignation is the debtor’s remedy if two or more persons claim the same right to collect from
the debtor.
9. Application of payment is choosing the debt to which payment is to be applied.
10. Payment by cession is the assignment of the debtor’s properties to his creditors.
11.  Civil fruits are those which refer to those arising out of a juridical relation, such as the rent of an
apartment.
12. Negligence is the omission of the diligence required by the nature of the obligation and
corresponds with the circumstances of the person, of the time, and of the place.
13. Condonation is the gratuitous abandonment by the creditor of his right to the obligation.
14. Prestation consists of giving, doing or not doing something.
15. Obligation is the juridical necessity to give, to do or not to do.
16. Industrial fruits are products of the soil with the intervention of human labor.
17. Alternative obligation is an obligation wherein several prestations are due but the complete
performance of one of them extinguishes the obligation.
18. Period is a space of time which determines the effectivity or extinguishment of an obligation.
19. Payment is the delivery of money or performance of an obligation in any other manner.
20. Solutio indebiti is return of what has been paid by mistake.