Obligations & Contracts Reviewer

An obligation is:

• a legal or moral duty to do something

• a type of financial asset

• a form of entertainment

• a scientific theory

Which of the following is a requisite of an obligation?

• It must be illicit

• It must be indeterminate

• It must be of non-pecuniary value

• It must be licit

What is the difference between civil and natural obligations?

• Civil obligations are enforceable by law, while natural obligations are not.

• Natural obligations are enforceable by law, while civil obligations are not.

• Both civil and natural obligations are enforceable by law.

• Neither civil nor natural obligations are enforceable by law.

Which of the following is a source of obligation?

• Contracts

• Delicts

• Quasi-delicts

• All of the above

An obligation can arise from:

• law

• contract

• quasi-contract

• all of the above

What are the two kinds of contracts mentioned in the text?

Fill in the blank: A real contract is not perfected until the delivery of the ________ of the obligation.

• object

• subject

• terms

• conditions

Explain the rule regarding whether a contract is consensual or real.

• A contract is consensual if it is formed by the mere agreement of the parties involved.

• A contract is real if it requires the transfer of a physical object to be valid.

• A contract is consensual if it requires a formal written document.

• A contract is real if it is formed by verbal agreement only.

What is the principal kind of quasi-contract where a person voluntarily takes charge of the agency or management of the business or property of another?

Fill in the blank: Civil obligations arising from offenses shall be governed by the penal laws, subject to the provisions of Art 2177, Chapter 2 on Human Relations and Title 18 of the Civil Code on ________.

• Obligations and Contracts

• Property

• Succession

• Family Code