FINAL EXAM

EXTINGUISHMENT OG OBLIGATION

1. Which of the following is not true about payment?

a. Payment does not only mean the delivery of the money. It also,means the

performance of the obligations in any other manner.

b. if the debt to which the payment has been applied bears interest, the interest must

be paid first before paying the principal.

c.The general rule, a third person cannot compel the creditor to accept payment of

an obligation.

d. The delivery of promissory notes payable to order, or bills of exchange or

mercantile documents produces the effect of payment right away.

Answer: B

2. The following are special forms of payment excepy one(1) .

a. Dacion en pago

b. Cession

c. Novation

d. Consignation

Answer: C

3. The creditor does not decide to collect and instead he forgives the debt. This is

essentially gratuitous.

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 a.condonation

b. Confusion

c.Compensation

Answer : A

4. This is the merger of the characters of creditor and debtor in one and the same

person by virtue of which the obligation is extinguised.

a . novation

b . confusion

c . compensation

Answer: B

5. In order that obligation will be extinguised in merger, the following conditions

must concur except:

a. That the merger of the characters and debtor must be in the same person;

b. That it must take place in the person of either the principal creditor or the

principal debtor , and

c. That it must be complete and definite

d. That the merger of the characters of creditor and debtor must be in the different

person

Answer: D

6. It is a mode of extinguishing obligation when persons who in in their own right are

creditors and debtor of each other. It may also be defined as weighing two obligations

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 simultaneously in order to extinguish them to the extent in which the amount of one

is covered by the amount of the other. It may be voluntary or judical.

a. Compensation

b. Confusion

c. Payment

Answer: A

7. __________involves the extinguishment of old obligation and the birth of a new

one because of any change in the objects, change in the principal conditions,

substitution in the person of the debtor and subrogation by a third person in the rights

of the creditor.

a. Novation

b. Merger

c. Payment

Answer : A

8. The following are modes of extinguishing an obligation except;

a. Payment

b. Loss of the thing due

c. Potestative

Answer: C

9. ___________is a special mode of payment whereby the debtor offers another thing

to the creditor who accepts it is equivalent of payment of an outstanding onligation.

a. Dacion en pago

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 b. Cession

c. Consignation

Answer: A

10. ________ is a special form of payment whereby by the debtor abandons all of his

property for the benefits of his creditors in order that from the proceeds thereof the

latter may obtain payment of their credits.

a. Dacion en pago

b. Cession

c. Consignation

Answer: B

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