WorksheetsBATCH 24: RFBT 1
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
It is the juridical necessity to give, to do or not to do.
a)
Obligation
b)
Sales
c)
Contract
d)
Partnership
2.
It refers to lawful, unilateral, voluntary acts giving rise to juridical relation to the end that no one shall be unjustly enriched at the expense of another.
a)
Law
b)
Quasi - Delict
c)
Contract
d)
Quasi - contract
3.
This is a voluntary management of an abandoned property or business in good faith without the authority and consent of the owner.
a)
Law
b)
Vinclum juris
c)
Negotiorum Gestio
d)
Solutio Indebiti
4.
Mr. Gilbert Blythe bought a Residential Unit situated in Tabuk City from REX Development Corporation. The terms of payment are Php 10,000.00 per month payable for 20 years. Mr. Reyes had already paid for 7 years installment or a total of Php 840,000.00 to the developer when he got into an accident constraining him to resign from his work. Assuming that he can no longer pay the monthly installment, how much is he entitled to receive as cash surrender value?
a)
He is not entitled to receive anything since this is not covered by Maceda Law
b)
He is entitled to receive 60% of the total amount paid.
c)
He is entitled to receive 90% of the total amount paid.
d)
He is entitled to receive 50% of the total amount paid.
5.
In a contract of sale, the ownership of the thing sold shall be transferred to the vendee upon_______________?
a)
Consummation
b)
Payment
c)
Delivery
d)
Perfection of Contract
6.
Seller's right to resale is available if?
a)
The buyer is in default.
b)
The right has been expressly reserved.
c)
Buyer delays payment for a reasonable length of time.
d)
The goods are perishable in nature.
7.
This law criminalizes the issuance of a check without sufficient fund or failure to maintain the said sufficient fund within reasonable time from its issuance?
a)
RA 11232
b)
BP 68
c)
BP 22
d)
RA 9184
8.
Which of the following statements is correct?
a)
Estafa is a crime against public interest
b)
Estafa shall bar the prosecution for violation of BP 22
c)
Estafa can be committed through deceit in issuing a bouncing check
d)
BP 22 is a special law that makes the mere act of issuing worthless or bum checks a crime, mala in se, regardless if they were made as deposit, guarantee, or evidence of pre-existing debt.
9.
Jenna, knowing that she had sufficient balance in her checking account, issued a check amounting to ₱50,000 dated January 15, 2021, to Ruben for the payment of 20 bags of Japanese rice delivered on January 20, 2021. Ruben encashed the check on April 10, 2021, but the bank dishonored it for insufficiency of funds. Jenna refused to pay within 5 banking days from notice thereof, contending that it was Ruben who failed to encash the same within a reasonable period. Can Ruben file an action against Jenna for violating the Bouncing Checks Law (BP 22)?
a)
No, because Jenna had sufficient funds when she issued the check; BP 22 punishes only the issuance of a check knowing that there are insufficient funds.
b)
No, because the check was encashed after a reasonable time; hence, Ruben bears the risk.
c)
Yes, because Jenna, though she kept sufficient funds within a reasonable period, did not settle the obligation within 5 banking days.
d)
Yes, because Jenna is presumed to have knowledge of issuing a check without sufficient funds, and despite notice, she failed to settle within five banking days.
10.
What is Republic Act No. 10142 of 2010 commonly known as?
a)
Bouncing checks law
b)
Concurrence and preference of credit
c)
Financial Rehabilitation and Insolvency Act
d)
Consumer Protection Law
11.
Which rule under Republic Act No. 10142 (Financial Rehabilitation and Insolvency Act of 2010) establishes that a rehabilitation plan confirmed by the court shall be binding upon the debtor and all persons affected by it—including creditors—regardless of whether they participated in the proceedings, opposed the plan, or had their claims scheduled?
a)
Calm-down rule
b)
Cram-down rule
c)
Doctrine of last clear chance
d)
Doctrine of operative fact
12.
_________________may file a verified petition for liquidation in the Regional Trial Court which has jurisdiction over its principal office as specified in its articles of incorporation or partnership
a)
Insolvent individual debtor
b)
Solvent individual debtor
c)
Insolvent juridical debtor
d)
Solvent juridical debtor
13.
These are agreements between competitors (horizontal agreements) or between enterprises in a production or distribution chain (vertical agreements) that prevent, distort, or restrict competition in a territory.
a)
Abuse of competitive advantage
b)
Anti-competitive merger and acquisition
c)
Anti-competitive agreements
d)
Abuse of dominant position
14.
An act providing for the modernization, standardization and regulation of the procurement activities of the government and for other purpose
a)
BATAS PAMBANSA BLG. 22
b)
THE CONSUMER ACT OF THE PHILIPPINES
c)
PHILIPPINE COMPETITION ACT
d)
GOVERNMENT PROCUREMENT REFORM ACT
15.
Statement 1: The Government Procurement Reform act shall apply to the Procurement of Infrastructure Projects, Goods and Consulting Services.
Statement 2: The Government Procurement Reform act shall apply to the Procurement of manufacturing and merchandising projects, regardless of source of funds, whether local of foreign, by all branches and instrumentalities of government.
a)
Only statement one is incorrect
b)
Only statement two is incorrect
c)
Both statement are correct
d)
Both statement are incorrect
16.
_______ the official release of documents, no aspect of the Bidding Documents shall be divulged or released on any prospective bidder.
a)
After
b)
During
c)
Prior
d)
Following
17.
This is a business organization established by two or more persons who bind themselves to contribute money, property, or industry to a common fund, with the intention of dividing the profits among themselves?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
d)
Joint Venture
18.
Those partner in an existing legal partnership.
a)
De facto partner
b)
Secret partner
c)
Partner by estoppel
d)
Real Partner
19.
X, Y, and Z are partners who contributed P10,000 each to the capital of the partnership. D owes the partnershipP3,000. Z collected from D P1,000 before X and Y could receive anything from D, who later became insolvent and therefore, they could not collect their shares.
a)
X and Y can automatically deduct from the capital contribution of Z in the partnership their respective shares of P333.33
b)
X and Y should first exhaust all remedies to collect from D.
c)
Z shall share the P1,000 with his co-partners X and Y.
d)
Z cannot be required to share what he already received from D.
20.
It is an act strengthening the insurance industry, also known as the Presidential Decree no. 612.
a)
The Insurance Code
b)
The Insurance Industry Law
c)
The Industry Law
d)
The Insurance and Industry Code
21.
When a person insured has no personal knowledge of a fact, he may nevertheless repeat information which he has upon the subject, and which he believes to be true, with the explanation that he does so on the information of others; or he may submit the information, in its whole extent. Who shall receive the information to be submitted?
a)
Insured
b)
Beneficiary
c)
Insurer
d)
Agent
22.
To render an insurance effected by one partner or part-owner, applicable to the interest of his co-partners or other part-owners, it is necessary that the terms of the policy should be such as are applicable to the?
a)
Insurance Interest
b)
Joint Venture
c)
Joint Arrangement
d)
Common Interest
23.
When the description of the insured in a policy is so general that it may comprehend any person or any class of persons, only he who can show that it was intended to include him, can claim the __________ of the policy.
a)
Interest
b)
Proceeds
c)
Benefit
d)
Principal
24.
A policy is either the following, except;
a)
Open
b)
Valued
c)
Closed
d)
Running
25.
It is one where it will exist until the purpose is accomplished
a)
Partnership for a particular undertaking
b)
Partnership with a fixed term
c)
Partnership at will
d)
De facto partnership
26.
A and B capitalist partners while C is an industrial partner, both A and B equally contributed P50,000. A contractual liability in favor of X was incurred in the amount of P150,000. After exhausting partnership assets, there is a balance recoverable from:
a)
A, B and C
b)
B and C only
c)
A, B and C and C can get reimbursement from A and B.
d)
A and B only
27.
A, B, and C formed a partnership. They contributed P250,000 each. They also agreed on equal distribution of profit. After 5 years of operation however, C conveys her whole interest in the partnership D, without knowledge and consent of A and B. is the partnership dissolved?
a)
The partnership was dissolved because the assignee, D automatically becomes a new partner.
b)
It is dissolved since C has ceased to be a partner because of the assignment of his whole interest to D.
c)
The partnership is not dissolved because the assignment made by C of his whole interest was without the knowledge and consent of A and B.
d)
The partnership is not dissolved because the conveyance of a partner`s interest in the partnership does not of itself dissolve the partnership.
28.
A delivered his bracelet to B for B's necklace. No written agreement was assigned by the parties. Which of the following is appropriate description of the contract between A and B?
a)
Onerous and bilateral
b)
Bilateral and innominate
c)
Bilateral and nominate
d)
Aleatory and nominate
29.
The meeting ot the minds regarding the obkect and cause of the contract (stage in the life of a contract)
a)
Conception
b)
Preparation
c)
Death
d)
Birth
30.
Unless ratified, suits will not prosper if the contract is
a)
Recissible
b)
Voidable
c)
Unenforceable
d)
Void
100 %
