Quezon City Polytechnic University

Obligations and Contracts

Final Examination
April 2016
Karl Marxcuz R. Reyes

Name : _________________________________________ Section: _________ Rating:________

I. Identification. Wrong spelling wrong! Right minus wrong! No erasures! (1pt each)

__________________ 1. Special form of payment where the debtor cede or assign his property to his
creditors in payment of his debts which includes net proceeds of the thing assigned.

__________________ 2. The act of depositing the thing due with the court whenever the creditor
cannot accept or refuses to accept payment.

__________________ 3. An act of liberality where the creditor renounces the enforcement of the
obligation.

__________________ 4. The meeting in one person of the qualities of a creditor and the debtor with
respect to the same obligation.

__________________ 5. Offsetting of two obligations which are reciprocally extinguished if they are of
equal value.

__________________ 6. Changing the object or principal condition.

__________________ 7. Contracts which are purely personal such as payment of money debt that
cannot be transmitted to the heirs but to the estate.

__________________ 8. Contracts that have their own individuality and are regulated by special
provisions of law.

__________________ 9. Contracts that are perfected by MERE CONSENT.

__________________ 10. Contracts that are perfected by the DELIVERY of the object.

__________________ 11. Stage where the parties come to agree on the terms on the contract.

__________________ 12. Manifested in the meeting of the offer and the acceptance.

__________________13. Vice of consent where in order to wrest consent, serious and irresistible force
is employed.

__________________14. Thing, right or service which is the subject matter of the obligation arising
from the contract.

__________________15. The immediate and the most proximate purpose of the contract.

For I, the Lord your God will hold your right hand, saying to you, “FEAR NOT”,
I will help you” ~Is aiah 41:13 GOD BLESS YOU!
II. Modified True or False. Write TRUE if the statement is CORRECT. Write F and change the underlined
word if the statement is WRONG. Right minus wrong! No erasures! (1pt each)

_____________1. There is intimidation when a person takes improper advantage of his power over the
will of another.

_____________2. Prescription is a mode of extinguishing obligation.

_____________3. Automatic contracts are those whereby one party has already prepared a contract
which contains stipulations desired by him and he simply asks the other party to agree to them if he
wants.

_____________4. Business advertisements of things for sale are not definite offers but mere invitations
to make an offer.

_____________5. Motive may be considered as the essential reason of the contract.

_____________6. There having a meeting of minds, the true intention of the parties is not expressed
into the instrument the proper remedy is to annul the contract.

_____________7. Rescissible contracts produces no effect, as if it had never been entered into.

_____________8. Unenforceable contracts can be ratified by the parties to make it valid.

_____________9. Action for specific performance creates an obligation to return the objects of the
contract and restore what may be oblige to return.

____________10. Sale of goods should be in a public instrument if it exceeds 500php.

III. Enumeration (1pt each) *you may answer at the back of your test paper*

1-4 Elements of obligation

5-7 Elements of contracts

8-11 Defective contracts

12-14 Remedies of creditor in case of breach

15-19 Vices of consent

20-24 What may parties cannot stipulate (Art. 1306)

25-27 Who are the parties that cannot enter into a contract

28-35 Modes of extinguishing obligations

36-42 Void or Inexistent contracts (Art 1409)

43-45 Requisites of Object

I did my best, but I guess my best wasn’t good enough - James Ingram (Just Once )
IV. DEFINE the following. Write your answers legibly in the space provided. (2pts each)

1. Law
2. Obligation
3. Contracts (Sanchez Roman)
4. Voidable Contracts
5. Void Contracts

VI. DISCUSS the following. (write legibly and avoid erasures)

1. Characteristics of Contracts (10pts)

2. Stages of Contracts (10pts)

VII. BONUS

1. Why should you pass Obligation and Contracts?

Farewell to you.. we’ll see each other again , don’t cry coz it’s not the end of everything ..
~ Raymond Lauchengco (Farewell)

I’ll see you all soon in the corporate world, See you in real life! -km