3rd Exam Questionnaire

ELECTIVE 2_4512

Carillo, Lady Rose

Engalan, Queenie Ann
Manlunas, Bonna Mae

Question 1.
Statement 1. In Anti-Competitive Agreements, it is prohibited to impose barriers to
entry or committing acts that prevent competitors from growing within the market
in an anti-competitive manner.
Statement 2. In Abuse of Dominant Position, it restrict competition as to price, or
components thereof, or other terms of trade.

a. True, True
b. False, True
c. True, False
d. False, False
Answer: D

Question 2. It is an agreement that substantially prevent, restrict or lessen

competition in the relevant market or in the market for goods or services as may be
determined by the Commission shall be prohibited.

a. Anti-Competitive Agreement Act

b. Abuse of Dominant Position
c. Mergers and Acquisitions
d. Philippine Competition Act
Answer: C

Question 3. Which of the following least likely describe the fines and penalties for
violating the Philippine Competition Act?

a. After due notice and hearing, the Commission may impose the administrative fines
on any entity that have violated the law. First offense would be a fine up to one
hundred million pesos (100,000,000).
b. Failure to comply with an order of the Commission, the entity shall pay a penalty
of not less than one hundred thousand pesos (100,000) up to two million pesos
(2,000,000) for each violation and a similar amount of penalty for each day.
c. Supply of Incorrect or Misleading Information, the entity fines of up to one million
pesos (P1,000,000.00) where, intentionally or negligently, they supply incorrect or
misleading information in any document, application or other paper filed with or
submitted to the Commission.
d. Any other violations not specifically penalized under the relevant provisions of this
Act shall be penalized by a fine of not less than fifty thousand pesos (P50,000.00) up
to two million pesos (P2,000,000.00).
Answer: B
Question 4. A favorable recommendation by a governmental agency with a
competition mandate shall give rise to a disputable presumption that the proposed
merger or acquisition is ________________ of this Act.

a. violative
b. not violative
c. effective
d. not effective
Answer: B

Question 5. When the entities involved are juridical persons, the penalty of
imprisonment shall be imposed on its ________________________________, who
are knowingly and willfully responsible for such violation.

a. officers
b. directors
c. employees holding managerial positions
d. All of the above
Answer: D

Question 6. Ordinarily involves something not consumable except when the purpose
of consumable goods is merely for exhibition.
a. Commodatum
b. Usufruct
c. Mutuum
d. Exhibition
Answer: A

Question 7. It is only applicable when unpaid seller has exercised possessory lien or
stoppage in transitu can the seller proceed with his other special rights of resale or
to rescind.

a. Possessory lien
b. Stoppage in transitu
c. Hierarchical application
d. Special right to rescind/resale
Answer: C

Question 8. In determining whether it is an equitable mortgage or a sale a retro, the

sale shall be construed as an equitable mortgage in case of _____.

a. Non-payment
b. Doubt
c. Defect
d. Cancellation
Answer: B
Question 9. It refers to any type or form of undertaking, collective recommendation,
independent or concerted action or practice, whether formal or informal.

a. Agreement
b. Conduct
c. Control
d. Merger
Answer: B

Question 10. X enters into a contract of sell to Y and subsequently X enters into an
absolute sale with Z.
Who has the better right?

Answer: Z, because contract of sell is not a valid sale yet either has to be a
compliance with the suspensive condition which is usually full payment.

Question 11. X sold land to Y and A pretends to be the owner and sells the same land
to Z.
Who has the better right?

Answer: Y has the better right. A is not the owner he has nothing to pass and 2nd
the sale is not the same seller so it does not apply 1544.

Question 12. Is manifested by the meeting of the offer and the acceptance upon the
thing and the cause which are to constitute the contract.

a. Consent
b. Consideration
c. Negotiation
d. Perfection
Answer: A

Question 13. Delivery of movable property takes place when the vendee had the
thing already in his possession before the sale took place, not as owner but as lessee,
borrower or depositary.

a. Traditio Longa Manu

b. Constitutum Possessorium
c. Traditio Brevi Manu
d. Execution of Public instrument
Answer: C

Question 14. What kind of diligence should a buyer must possess?

a. Diligence of a good father of a family
b. Good Diligence
c. Taking good care of the thing borrowed
d. Diligence of a good son in the family
Answer: A

Question 15. What is the legal interest rate before July 1, 2013?

a. 15% per annum

b. 6% per annum
c. 10% per annum
d. 12% per annum
Answer: D