Quiz - Assignment of Credits and Other Incorporeal Rights

It is a contract by which one person (assignor/creditor) transfers to another rights and actions against a third person (debtor) in consideration of a price certain in money or its equivalent.

(a)  

An assignment of a credit, right or action shall produce no effect as against third persons,

• unless it appears in a public instrument, or the instrument is recorded in the Registry of Property in case the assignment involves real property.

• unless it appears in a private instrument, or the instrument is recorded in the Registry of Property in case the assignment involves real property.

• unless it appears in a public instrument, or the instrument is recorded in the Registry of Property in case the assignment involves personal property.

• unless it appears in a executory instrument, or the instrument is recorded in the Registry of Property in case the assignment involves real property.

The debtor who, before having knowledge of the assignment,

• pays the creditor shall be released from the obligation.

• reimburses the creditor shall be released from the obligation.

• pays the creditor shall not be released from the obligation.

• pays the mortgagor shall be released from the obligation.

The assignment of a credit includes all the accessory rights, except guaranty, mortgage, pledge, or preference.

• True

• False

The vendor in good faith shall be responsible for the existence and legality of the credit at the time of sale,

• unless it should have been sold as doubtful; but not for the solvency of the debtor, unless it has been so expressly stipulated or unless the insolvency was prior to the sale and of common knowledge.

• unless it should have been sold as doubtful; but not for the solvency of the debtor, unless it has not been expressly stipulated or unless the insolvency was prior to the sale and of common knowledge.

• unless it should have been sold as doubtful; but not for the solvency of the debtor, unless it has been so expressly stipulated or unless the insolvency was after the sale and of common knowledge.

• unless it should have been sold as doubtful; but not for the solvency of the debtor, unless it has been so expressly stipulated or unless the insolvency was prior to the sale but not common knowledge.

As a general rule, the vendor in bad faith is answerable for the payment of all expenses, and for damages.

• True

• False

In case the assignor in good faith should have made himself responsible for the solvency of the debtor, and the contracting parties should not have agreed upon the duration of the liability,

• it shall last for one year only, from the time of the assignment if the period had already expired. If the credit should be payable within a term or period which has not yet expired, the liability shall cease one year after the maturity.

• it shall last for one year only, from the time of the assignment if the period had not expired. If the credit should be payable within a term or period which has not yet expired, the liability shall cease one year after the maturity.

• it shall last for one year only, from the time of the assignment if the period had already expired. If the credit should be payable within a term or period which has not yet expired, the liability shall not cease one year after the maturity.

• it shall last for one year only, from the time of the assignment if the period had already expired. If the credit should be payable within a term or period which has not yet expired, the liability shall cease one year before the maturity.

An inheritance may be sold either with specification of the properties to be alienated or without enumerating the things comprising it, that is to say, the hereditary rights only.

• True, the seller of an inheritance warrants only the facts of heirship but does not warrant the objects which make up the inheritance.

• True, the seller of an inheritance warrants only the facts of heirship but does warrant the objects which make up the inheritance.

• False, the seller of an inheritance warrants only the facts of heirship but does not warrant the objects which make up the inheritance.

• False, the seller of an inheritance warrants only the facts of heirship but doeswarrant the objects which make up the inheritance.

One who sells for a lump sum the whole of a certain rights, rents, or products, shall comply by answering for the legitimacy of the whole in general;

• but he shall not be obliged to warrant each of the various parts of which it may be composed, except in case the eviction from the whole or the part of greater value.

• but he shall be obliged to warrant each of the various parts of which it may be composed, except in case the eviction from the whole or the part of greater value.

• but he shall not be obliged to warrant each of the various parts of which it may be composed, except in case the eviction from the whole or the part of lesser value.

• but he shall not be obliged to warrant each of the various parts of which it may be composed, including the case of eviction from the whole or the part of greater value.

Should the vendor have profited by some of the fruits or received anything from the inheritance sold,

• the vendor shall pay the vendee thereof, if the contrary has not been stipulated.

• the vendee shall pay the vendor thereof, if the contrary has not been stipulated.

• the vendor shall pay the vendee thereof, if the contrary has been stipulated.

• the vendor shall not pay the vendee thereof, if the contrary has not been stipulated.