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RFBT FinalMockboard B
RFBT FinalMockboard B
NAME:______________________________________________ DATE:___________
7. An indorsement where the indorser signs only his name at the back
of the instrument is a
a. special indorsement. c. qualified indorsement.
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b. blank indorsement. d. restrictive indorsement.
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b. Payment by cession extinguishes the obligations only to the
extent covered by the proceeds of the sale of the debtor’s
properties.
c. The debtor must be insolvent.
d. Cession affects all the properties of the debtor except those
exempt from execution.
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22. A check must be in writing and signed by the drawer for it
to be negotiable. In addition, a check must have the following
requisite, except
a. it must contain an unconditional order to pay a sum certain in
money.
b. it must be payable at a fixed or determinable future time.
c. it must be payable to order or to bearer.
d. the bank drawee must be named with reasonable certainty.
26. Shares that may be issued at a price higher than ₱5.00 per
share are
a. par value shares.
b. no-par value shares.
c. both a and b.
d. neither a nor b.
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valid removal of F for disloyalty to the corporation and the
death of G. In the said meeting, the remaining directors voted
for X to replace F, and Y, a son of G, to replace his father.
Both X and Y are owners of at least one share of stock of the
corporation. The election of X and Y by the remaining directors
is
a. valid for both X and Y.
b. not valid for both X and Y.
c. valid with respect to X; not valid with respect to Y.
d. not valid with respect to X; valid with respect to Y.
30. The partnership will bear the risk of the loss of three of
the following things. Which is the exception?
a. things contributed to be sold
b. fungible things or those that cannot be kept without
deteriorating
c. things contributed so that only their use and fruits will be
for the common benefit
d. things brought and appraised in the inventory
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b. Tadena is only a partner by estoppel of Pacis, Ramas and
Gonzales during the time that he receives a share of the profits
of PARAGON as payment of the purchase price of the machine.
c. Tadena is not a partner of Pacis, Ramas and Gonzales whether
before or after he has received the full payment of the purchase
price of the machine from PARAGON.
d. Tadena is only a nominal partner of Pacis, Ramas and Gonzales
during the time that he receives a share of the profits of
PARAGON as payment of the purchase price of the machine.
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a. principal contract.
b. nominate contract.
c. consensual contract.
d. real contract.
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b. Obligation exists by reason of equity and moral justice.
c. If performed voluntarily, recovery can no longer be made.
d. There is juridical necessity to perform it.
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reimburse A for such expenses which the latter incurred by reason
of
a. contract. c. negotiorum gestio.
b. solutio indebiti. d. quasi-delict.
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agreed that S would deliver the car, and B would pay the price,
after two weeks. Before the two week period was over, S found
another buyer who was willing to pay ₱220,000 for the car. May S
validly withdraw from his contract with B?
a. Yes, because B has not yet paid the price.
b. Yes, because the other buyer was willing to pay more.
c. No, because S was already bound by his contract with B and he
cannot unilaterally withdraw from it.
d. Yes, because S has not yet delivered the car.
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a. the contract is constituted to secure the fulfillment of a
principal obligation.
b. the property on which the security is constituted must be
delivered to the creditor.
c. the debtor must be the absolute owner of the property pledged
or mortgaged.
d. the debtor must have free disposal of the property pledged or
mortgaged.
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a. P is liable to X because X did not read the publication of the
revocation of A’s power.
b. P is not liable because the revocation as published is binding
upon any person including X although X has not read the
publication.
c. P is liable to X because P should have specially informed X
that A’s authority had been revoked.
d. P is liable because A was a customer of long standing and must
be given the benefit of the doubt.
72. Daoang and Depante have been partners for more than 5 years
in the purified water business. At the start of the sixth year,
Daoang assigned his interest in the partnership to Trinidad, but
Depante objected on the ground that he did not want Trinidad to
be his partner.
a. Trinidad automatically became a partner of Depante when Daoang
conveyed his interest to him.
b. Daoang and Depante continue to be parents despite Daoang’s
conveyance of his interest to Trinidad.
c. The partnership between Daoang and Depante was automatically
dissolved when Daoang conveyed his interest to Trinidad.
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d. The conveyance by Daoang of his interest in the partnership to
Trinidad entitled the latter to inspect the books, and
participate in the management, of the partnership.
d. The conveyance by Daoang of his interest in the partnership to
Trinidad entitled the latter to inspect the books, and
participate in the management, of the partnership.
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d. five members who must act by a majority vote of all its
members.
79. No-par shares may not be issued for a price lower than
a. stock exchange quotation price.
b. issued price.
c. market price.
d. fair market value.
80. Danilo pays the Rural Bank of Sta. Rosa the sum of ₱30,000.
May Danilo demand the cancellation of the pledge of 1,000 shares
of stock by reason of such payment?
a. No, Danilo has to pay his obligation of ₱90,000 in full before
he can demand any cancellation of the pledge of the shares of
stock.
b. Yes, Danilo can demand cancellation of the pledge of 1,000
shares because the market value of the same is equivalent to the
payment of ₱30,000 that was made.
c. No, Danilo can demand cancellation of the pledge only if he
has paid more than 50% of his debt.
d. Yes, Danilo can demand cancellation because the pledge of each
of the 3 stock certificates is independent of one another.
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