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Title: Regulatory Framework for Business Transactions Practice Test
Description: A set of questions in the subject Regulatory Framework for Business Transactions Practice Test
Description: A set of questions in the subject Regulatory Framework for Business Transactions Practice Test
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Regulatory Framework for Business Transactions (RFBT)
Practice Test
1
...
The contract of real estate mortgage provides that Anna is prohibited form selling the
mortgaged house in case of default of Anna at the maturity date of the loan, Beth will become
the automatic owner of the mortgaged house
...
Anna may still sell the house to third person despite the prohibition in the contract of real
estate mortgage
...
Beth becomes the owner of the mortgaged house upon the default of Anna
...
The contract of real estate mortgaged is null and void because of the stipulation of pactum
commissorium which is contrary to law and public policy
...
The contract of real estate mortgage is unenforceable because it is not in public document
and not registered with Registry of Deeds
...
Which of the following is a defense that is available against a holder in due course?
a
...
Acquisition of instrument by force or duress
...
Illegality of consideration
d
...
3
...
The fixing of the price can never be left to the decision of one of the contracting parties
...
II
...
a
...
b
...
c
...
d
...
4
...
a
...
Conditional sale
c
...
Agency to sell
5
...
a
...
Waver of rights
c
...
Stipulation pour autruie
6
...
Two weeks later, Tiger died
...
Should annulment be
allowed?
a
...
b
...
c
...
d
...
7
...
If all objects were lost
thru Atoy’s fault, which is correct?
a
...
The value of the last thing lost plus damages must be given to Bitoy
c
...
The obligation is extinguished
...
“Dout Facias” means
a
...
I do and you give
c
...
I do and you do
9
...
2nd statement: In cession en pago, what is being transferred is the universality of the debtor’s
property
...
Both statements are wrong
b
...
Both statements are correct
d
...
A condition which, if imposed on an obligation will be disregarded
Title: Regulatory Framework for Business Transactions Practice Test
Description: A set of questions in the subject Regulatory Framework for Business Transactions Practice Test
Description: A set of questions in the subject Regulatory Framework for Business Transactions Practice Test