Final Pre-Board Examination

PART - 1
Regulatory Framework for Business Transaction

1. All of the following give rise to obligations without an agreement, except;

a. Law
b. Contract
c. Quasi-Contract
d. Quasi-Delict

2. Which of the following is not a conditional obligation?

a. D will pay C P10, 000, 15 days after the former’s graduation
b. D will pay C P10, 000, as soon as his financial means permit him to do so
c. D will pay C P10, 000, after passing the 2021 October Licensure Exams for CPA’s
d. D will pay C P10, 000, 10 days after he marries W

3. Michael Scott is the employer of Dwight Schrute. The latter, driving recklessly, hit a
pedestrian in the course of the performance of his duties and caused serious injuries.
Dwight Schrute was charged criminally was guilty of reckless imprudence to serious
physical injuries and was made to pay civil damages. In this case,
a. Michael Scott can be made vicariously liable for the civil damages
b. Michael Scott can raise the defense of diligence in the selection and supervision of
employees if he is made liable
c. Michael Scott cannot be made liable
d. Michael Scott can be made subsidiarily liable for civil damages and cannot raise
the defense of diligence in the selection and the supervision of employees

4. Jake Peralta and Amy Rodriguez are co-workers. Amy filed for a loan in B99 Bank
where Jake was a co-signatory solidarily liable for the loan but did not received any
proceeds therefrom. Jake executed a real estate mortgage over his own real property to
secure said loan. Amy not being able to pay, B99 Bank foreclosed the mortgage. In this
case,
a. B99 cannot foreclose the mortgage since Jake, the mortgagor, did not received any of
the proceeds of the loan
b. In this case the proceeds of the foreclosure is not sufficient to pay off the balance,
Jake can be made liable for the deficiency
c. Only Amy can be made liable for the unpaid loan being the sole receipt of the
proceeds
d. Jake can no longer be made liable for any deficiency
5. W, X, Y, and Z are solidarily indebted to C for P40, 000. When C demanded payment
from W, the latter refused claiming that X is a minor, Y’s share already condoned and
that z is insolvent. How much is W required to pay C?
a. 40, 000
b. 30, 000
c. 20, 000
d. 10, 000