Understanding Contracts and Legal Terminology Quiz
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Questions and Answers

Which of the following statements about validity and compliance of a contract is correct?

  • Parties can freely decide on the validity and compliance of a contract
  • Validity and compliance are always determined by the courts
  • The validity or compliance of a contract cannot be left to the will of the parties (correct)
  • Validity and compliance depend solely on the intentions of the pledgee
  • In case of foreclosure where the sale price is less than the amount due, what can the pledgee recover?

  • An increased amount to cover the shortfall
  • Only a portion of the deficiency
  • Nothing (correct)
  • The full amount due
  • Who cannot form a universal partnership due to legal prohibitions?

  • Persons prohibited from entering into donation contracts by law (correct)
  • Individuals with outstanding debts
  • Those who do not disclose all assets in a partnership
  • Parties who have previously breached a contract
  • Can actions for future fraud be waived?

    <p>Yes, actions for future fraud can always be waived</p> Signup and view all the answers

    What is the process of intentionally deceiving others by producing a false contract called?

    <p>Absolute simulation of a contract</p> Signup and view all the answers

    Which element is NOT included in the crime of estafa by issuing a check?

    <p>Existence of a contract between the parties</p> Signup and view all the answers

    Is the offense under B.P. 22 considered a continuing offense?

    <p>Yes, every act constitutes a separate offense</p> Signup and view all the answers

    'Each act of drawing and issuing a bounced check constitutes a violation of B.P. 22.' Are both statements true?

    <p>'Statement No. 1' is true; 'Statement No. 2' is false</p> Signup and view all the answers

    In the given scenario, the contract between Gabriel and Andre can be best described as:

    <p>Partly sale and partly barter</p> Signup and view all the answers

    Which statement accurately describes when the instrument or promissory note is discharged?

    <p>1st statement is wrong, 2nd statement is correct</p> Signup and view all the answers

    When executing a sale with the right to repurchase anytime from the date of sale, what is the timeframe within which the buyer can repurchase the property sold?

    <p>The stipulation is valid</p> Signup and view all the answers

    In the case where Atoy sells a residential lot to Bitoy based on an area of 1,000 square meters but it actually only contains 950 sq. meters, what can Bitoy request?

    <p>Proportionate reduction of the price and rescission</p> Signup and view all the answers

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