What is the effect if an obligation’s effectivity depends upon the sole will of the creditor?
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It is valid.
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What is the effect if an obligation’s effectivity depends upon the sole will of the creditor?
It is valid.
Which voting method is least favorable to minority stockholders?
Straight voting.
In what type of proceeding can the due incorporation of a de facto corporation be inquired into?
Quo warranto proceeding.
What is considered a permanent disability?
Complete loss of one limb at or above the ankle or wrists.
Is the owner of a jeep liable if an accident occurs due to a blown tire?
No, the cause of the accident is considered a fortuitous event.
What is the time frame to file an action to fix the period?
It must be filed within one year, otherwise, it would prescribe.
What is the time frame for absentees to file an action for rescission?
The period of forty years shall not begin until his domicile is known.
Under what circumstances is compensation not proper?
Compensation shall not be proper when one of the debts arises from a depositum or from the obligations of a depositary.
How many shares of stock must be issued to Mr. A if he paid P5,000 for shares with a P20 par value?
None, as he did not pay the full amount for any shares.
Can future properties like those acquired by inheritance be included in a universal partnership of all present properties?
No, because properties to be contributed to a partnership are supposed to be determinate, known, and certain.
Can A demand reimbursement from B and C after 12 years of obligation being due?
No, the law states that payment made by a solidary debtor shall not entitle him to reimbursement from his co-debtors if such payment is made after the obligation has prescribed.
What is the maximum duration of parental leave for solo parent employees?
Not more than seven working days every year.
What happens if one of the things in an alternative obligation is lost through a fortuitous event?
The debtor shall perform the obligation by delivering what remains.
What is true regarding penal clauses?
The nullity of the penal clause does not carry with it that of the principal obligation.
What are the requisites of tortuous interference?
a. Existence of a valid contract and knowledge on the part of the third person of the existence of the contract; b. Interference of the third person without legal justification or excuse; c. Both A & B.
How much cash should Dilek allocate after collecting from Mr. X?
Dilek should allocate 2,000, as she collected 8,000 but Mr. X owes the partnership 30,000.
What is an exception to the rule that no one is liable in cases of fortuitous events?
Liability can arise when the law or contract specifies, when there is delay, or when there is an assumption of risk.
What happens if the thing is lost without the fault of the debtor during the pendency of a condition?
The obligation shall not be extinguished.
In the liquidation of a limited partnership, which has the least priority?
Those owing to general partners with respect to profits.
Can X deliver a parcel of land to Y by way of dacion en pago if it is mortgaged to Z?
No, because there is an existing lien or encumbrance on the land.
Does changing the interest rate in a contract extinguish the surety undertaking?
No, the mere change of interest rate does not extinguish the surety undertaking.
How long do actions arising from insurance contracts prescribe?
Four years absent any stipulation.
What are the possible valid venues for ABC Corporation's upcoming board of directors meeting?
Any venue in Makati City or Quezon City.
In the liquidation of a general partnership, which has the least priority?
Those owing to partners with respect to profits.
Under what circumstances is the juridical relationship of negotiorum gestio inexistent?
When the property or business is not neglected or abandoned.
How many months of pension does a qualified SSS member receive for complete and permanent loss of use of one little finger?
8 months.
What are the consequences if a capitalist partner engages in a competing business?
He may be required to bring to the common fund the profits he derived from the other business, or he may be ousted from the partnership.
Can there be novation without the consent of the debtor and the creditor?
No, the consent of the debtor and the creditor is always required.
Which transactions require that the contract be in writing for its validity?
c. Both A (Sale of land) & B (In sale of real property through an agent, the contract of agency must be in writing).
What percentage of the average monthly salary credit may a member receive during involuntary unemployment?
50% for a maximum of 2 months.
When do the effects of the fulfillment of a condition in an obligation to give retroact?
The effects shall retroact to the day of the constitution of the obligation.
When should an action for rescission be filed for persons under guardianship?
The period of four years shall not begin until the termination of the minor’s incapacity.
Can a husband and wife continue a partnership created prior to their marriage?
No, they are prohibited from entering into such a partnership because it would circumvent the law prohibiting donations to each other.
May an industrial partner engage in any business during the existence of the partnership?
No, unless the capitalist partners expressly permit him to do so.
What is the parental leave entitlement for solo parents who have rendered service of at least six months?
Parental leave of not more than seven working days every year, which shall not be cumulative.
What is the status of a contract approved by only 5 out of 10 directors, including Mr. A?
Voidable.
Is a contract valid if the cause or price was not paid?
a. Yes, non-payment of the price is not the controlling criterion to make a contract void; b. Yes, non-payment is merely a ground for specific performance or rescission; c. Both A & B.
What is the maximum monthly salary credit for SSS in 2023?
P30,000.
Is there a partnership between Cheska and Kirsten based on the amount given for business expansion?
No, the amount should be treated as a loan because there was no clear intention to enter into a partnership.
What may constitute actual damages?
Both the value of the loss suffered and the profits which the obligee failed to obtain.
Who is authorized to fill vacancies if six out of ten directors die?
The remaining directors.
What is a characteristic of a partnership?
It is both consensual and unilateral.
What indicates novation?
Novation can be indicated when it has been explicitly stated and declared in unequivocal terms, or when the old and new obligations are compatible on every point.
Can maternity leave be deferred?
No, it should be availed of either before or after delivery in a continuous manner, not exceeding 120 days.
What doctrine applies when a corporation is used to perpetuate fraud?
Doctrine of piercing the veil of corporate fiction.
What is an allowed form for the 13th month pay of employees?
All of the choices (Christmas bonus, Profit sharing payments, Mid-year bonus).
What test is applied to determine if a corporation is domestic or foreign?
Incorporation Test.
Is the statute of frauds applicable to contracts with a right of first refusal?
No, the Statute of Frauds does not contemplate cases involving a right of first refusal because it presupposes the existence of a perfected contract.
How are contracts infringing the Statute of Frauds ratified according to Art. 1403(2)?
They are ratified by the acceptance of the benefits under them.
How may obligations be modified?
Obligations may be modified by changing their object or principal condition, substituting the person of the debtor, or subrogating a third person in the rights of the creditors.
What are the elements of fraud that vitiate consent for making a contract voidable?
a. It was employed by a contracting party upon the other and it induced the other party to enter into a contract; b. It was serious and resulted in damages and injury to the party seeking annulment; c. Both A & B.
What is the effect of Naomi's insolvency on Ericka's obligation?
Naomi’s insolvency does not revive Ericka’s obligation.
How many days must the stock and transfer book be closed before regular and special meetings?
At least 14 days for regular meetings and 7 days for special meetings.
What are the possible valid venues for ABC Corporation's upcoming stockholder’s meeting?
Any venue in Makati City or Quezon City.
On which dates is an employee entitled to double pay?
April 9 and May 1.
What is true regarding payment made by one of the solidary debtors?
All of the above statements are true.
What are the requisites of stipulation pour autrui?
a. The stipulation in favor of a third person, the third-party beneficiary which should be the whole of the contract; b. The contracting parties must have clearly and deliberately conferred an incidental benefit or interest to a third party; c. Neither of the contracting parties bear the legal representation or authorization of the third party; d. All of the above.
What happens if an unenforceable contract is ratified by parents or guardians?
The contract shall be validated from its inception.
Does a universal partnership of all present properties include properties acquired after the partnership is formed?
No, properties acquired by inheritance, legacy, or donation during the partnership shall pertain to each partner exclusively, but the fruits shall pertain to the partnership.
What is the maternity leave benefit for covered female workers?
105 days maternity leave with full pay, with an option to extend for an additional 30 days.
What is the effect if Shanaia receives payment of the principal without the interest?
It gives rise to a disputable presumption that the interest has already been paid.
What is the effect if an obligation’s effectivity depends upon the sole will of the debtor?
It is valid.
What is considered the smallest public corporation in the Philippines?
Barangay.
Which voting method is most favorable to minority stockholders?
Cumulative voting for one candidate.
Is there a distinction between the liability of an employer in quasi-delicts from crimes?
Yes, an employer’s liability based on a quasi-delict is primary and direct, while the employer’s liability based on a delict is merely subsidiary.
What is a requirement of dacion en pago?
Consent of the creditor.
Was there a perfected contract when Rafi accepted Nico's offer after Nico's death?
b. Yes. Under the cognition theory, there is a perfected contract because the acceptance was made by the buyer before the death of the seller.
What is the maternity leave duration for cases of miscarriage?
90 days maternity leave with full pay.
What is Krystl's remedy if Jana does not pay the loan when able?
Krystl can go to court and ask for specific performance since the obligation is deemed to be one with a period.
Who is authorized to fill vacancies if four out of ten directors of ABC Corporation were removed?
Both the stockholders and the directors.
What happens if one of the solidary debtors cannot pay his share?
The share of the debtor who cannot reimburse the solidary debtor who paid shall be shouldered by all his co-debtors, in proportion to the debt of each.
Is a loan contract valid if it stipulates payment in a currency other than Philippine peso?
Yes, parties in a loan undertaking can stipulate that the payment may be made in a currency different from Philippine peso.
What is the effect of accepting delayed payments after a default?
Rescission is impliedly waived.
Who will act as directors during the interim period if replacements are elected on April 1, 2025?
The previous 10 directors.
Can Sean and Sienna be considered partners if they did not contribute money or property?
No, it is mere co-ownership.
What is the employer's percentage share for SSS in 2022?
8.5%.
What percentage of the monthly pension is paid as a dependent's pension for each child?
Ten percent (10%) of the monthly pension or two hundred fifty pesos (P250.00), whichever is higher.
How many months of pension does a qualified SSS member receive for complete and permanent loss of use of one hand?
39 months.
What is the effect of using a cashier’s or manager’s check as payment?
It would constitute a valid payment because it is considered as cash equivalents.
Is an oral contract of partition of inherited real property enforceable?
No, it is unenforceable because it did not comply with the Statute of Frauds.
What would be the basis of conversion for an obligation incurred in dollars prior to R.A. No. 529?
The rate of conversion would be the rate at the time the obligation was incurred.
What additional benefit is granted to solo parents under RA No. 8972?
An additional 15 days maternity leave with full pay.
What are the qualifications for directors of corporations?
A director must own at least one share of stock and must not have been convicted of an offense punishable by imprisonment for over six years within five years before election.
If Mr. B is elected as a replacement for Mr. A on November 1, 2024, how long is his term as director?
Only for the remaining two months.
What is the rule on the contribution of partners in a partnership?
Unless there is a stipulation to the contrary, the partners shall contribute equal shares to the capital of the partnership.
Is Kate's contention correct regarding the oral contract of sale of land?
d. No, her contention is not correct because the contract is perfectly valid.
Within how many days must property insurance proceeds be paid after proof of loss is received?
30 days.
What happens if A fails to pay his obligation on the promissory note by August 1, 2024?
A can be considered in default because the promissory note is dated and time is of the essence.
