BUSINESS LAW: PLEDGE, MORTGAGE, AND ANTICHRESIS

1. In order to bind third persons, a pledge:

a. Must be recorded with the Register of Deeds
b. Must be in public instrument showing a description of the thing pledged and the date
of the pledge
c. Is sufficient that it can be in a private instrument showing a description of the thing
pledged and the date of pledge
d. Must be accompanied by an affidavit of good faith
2. The following may be the object of pledge, except:
a. All movables, within the commerce of men which are susceptible of possession
b. Bills of lading
c. Shares of stock
d. Parcels of land
3. A kind of mortgage which lacks the formalities required by law but nevertheless shows
the intention of the parties to secure a debt with real property is known as:
a. Conventional mortgage
b. Voluntary mortgage
c. Equitable mortgage
d. Legal mortgage
4. This is a stipulation in pledge of mortgage providing that the ownership of the thing
given as security will pass to the pledgee or mortgagee upon default of the debtor.
a. Constitutum possessorium
b. Pactum commisorium
c. Legal subrogation
d. Redemption
5. This refers to the right of a person to retain a thing until he receives payment of his claim
in the cases provided by law such as one who was executed work on a movable.
a. Conventional pledge
b. Voluntary pledge
c. Legal pledge
d. Chattel mortgage
6. A pledge is extinguished through any of the following, except:
a. Sale of the thing pledged
b. Appropriation of the things pledged after the thing is not sold at one public auction
c. Written abandonment of the pledge
d. Return of the thing pledged
7. It is the right of the mortgagor to redeem the property that was mortgaged after it was
sold.
a. Equity of redemption
b. Right of redemption
c. Right of subrogation
d. Right of pre-emption
8. A chattel mortgage may have the following as object, except:
 a. Motor vehicles
b. Shares of stock
c. Vessels
d. Floating docks and structures which are intended by their nature and object to remain
at fixed place on a river, lake or coast.
9. Pledge and real mortgage are similar in what respect?
a. The object of the contract
b. Binding effect against third persons
c. Recovery of deficiency
d. The fact that the third persons may pledge or mortgage their property to secure
another person’s debt
10. As a general rule, any deficiency in the foreclosure sale may be recovered in the
following contracts, except in:
a. Chattel mortgage
b. Real mortgage
c. Conventional mortgage
d. antichresis