TRUE OR FALSE

• 1. A stipulation that the

bailee may make use of
the fruits of the thing
loaned is valid.
• 2. The bailee does answer for
the deterioration of the thing
loaned due only to the use
thereof and without his fault
• 3. If the borrower pays interest when
there has been no stipulation therefor,
the provisions of Law on Obligations
and Contracts concerning solutio
indebiti, or natural obligations, shall
be applied, as the case may be.
• 4. If the deposit is gratuitous,
this fact shall be taken into
account in determining the
degree of care that the
depositary must observe.
• 5. The depositary can make
use of the thing deposited
without the express
permission of the depositor.
• 6. The hotel-keeper is liable
for the vehicles, animals and
articles which have been
introduced or placed in the
annexes of the hotel.
• 7. Uncertificated security is
a security evidenced by
electronic or similar records
• 8. Certificates issued by a
receiver or by a trustee in
bankruptcy duly approved by the
proper adjudicatory body are non-
exempt securities
• 9. The Commission on Audit may exempt
other transactions, if it finds that the
requirements of registration under this Code is
not necessary in the public interest or for the
protection of the investors such as by the
reason of the small amount involved or the
limited character of the public offering
• 10. If any prospectus shall refuse to
permit an examination to be made by
the Commission, its refusal shall be
ground for the refusal or revocation of
the registration of its securities.
• 11. The term “Office” refers to
any Intellectual Property Office
created by this Act
• 12. The Office shall be divided
into seven (7) Bureaus, each of
which shall be headed by a
Director and assisted by an
Assistant Director.
• 13. In the case of drugs and medicines, there is an
inventive step if the invention results from the mere
discovery of a new form or new property of a
known substance which does not result in the
enhancement of the known efficacy of that
substance, or the mere discovery of any new
property or new use for a known substance, or the
mere use of a known process unless such known
process results in a new product that employs at
least one new reactant.
• 14. Upon filing of a petition for cancellation, the
Director of Legal Affairs shall forthwith serve notice
of the filing thereof upon the patentee and all
persons having grants or licenses, or any other
right, title or interest in and to the patent and the
invention covered thereby, as appears of record in
the Office, and of notice of the date of hearing
thereon on such persons and the petitioner. Notice
of the filing of the petition shall be published in the
IPO Gazette.
• 15. The rights conferred by the patent or any
specified claim or claims cancelled shall
terminate. Notice of the cancellation shall be
published in the IPO Gazette. Unless
restrained by the Director General, the
decision or order to cancel by Director of
Legal Affairs shall be immediately executory
even pending appeal
• 16. In the case of audio work, the copyright shall
belong to the producer, the author of the scenario, the
composer of the music, the film director, and the author
of the work so adapted. However, subject to contrary or
other stipulations among the creators, the producer
shall exercise the copyright to an extent required for
the exhibition of the work in any manner, except for the
right to collect performing license fees for the
performance of musical compositions, with or without
words, which are incorporated into the work
• 17. An exclusive license may be filed in
duplicate with the National Library upon
payment of the prescribed fee for registration
in books and records kept for the purpose.
Upon recording, a copy of the instrument shall
be returned to the sender with a notation of
the fact of record. Notice of the record shall be
published in the IPO Gazette.
• 18. Copyright in a work of engineering shall include
the right to control the erection of any building
which reproduces the whole or a substantial part of
the work either in its original form or in any form
recognizably derived from the original: Provided,
That the copyright in any such work shall not
include the right to control the reconstruction or
rehabilitation in the same style as the original of a
building to which that copyright relates
• 19. An author may waive his
rights
• 20. “Broadcasting” means the transmission by
wireless means for the public reception of
sounds or of images or of representations
thereof; such transmission by satellite is also
“broadcasting” where the means for
decrypting are provided to the public by the
broadcasting organization without its consent
• 21. “Mark” means any visible sign
designated as such in the application for
registration and capable of distinguishing
the origin or any other common
characteristic, including the quality of goods
or services of different enterprises which
use the sign under the control of the
registered owner of the collective mark;
• 22. Any license contract concerning the registration
of a mark, or an application therefor, may provide
for effective control by the licensor of the quality of
the goods or services of the licensee in connection
with which the mark is used. If the license contract
does not provide for such quality control, or if such
quality control is not effectively carried out, the
license contract shall not be valid
• 23. A certificate of registration shall remain in force
for twenty (20) years: Provided, That the registrant
shall file a declaration of actual use and evidence
to that effect, or shall show valid reasons based on
the existence of obstacles to such use, as
prescribed by the Regulations, within one (1) year
from the fifth anniversary of the date of the
registration of the mark. Otherwise, the mark shall
be removed from the Register by the Office
• 24. A certificate of registration of a mark shall
be prima facie evidence of the validity of the
registration, the registrant’s ownership of the
mark, and of the registrant’s exclusive right to
use the same in connection with the goods or
services and those that are related thereto
specified in the certificate
• 25. A certificate of registration of a mark may be issued to
the assignee of the applicant: Provided, That the
assignment is recorded in the Office. In case of a change
of ownership, the Office shall at the written request signed
by the owner, or his representative, or by the new owner,
or his representative and upon a proper showing and the
payment of the prescribed fee, issue to such assignee a
new certificate of registration of the said mark in the name
of such assignee, and for the unexpired part of the
original period.
26. THE BAILEE DOES NOT
ANSWER FOR THE
DETERIORATION OF THE THING
LOANED DUE ONLY TO THE USE
THEREOF AND WITHOUT HIS
27. THE PERSON WHO GRANTS
A SECURITY INTEREST IN
COLLATERAL TO SECURE ITS
OWN OBLIGATION OR THAT OF
ANOTHER PERSON IS CALLED A
GUARANTOR.
28. AN INVENTION SHALL BE
CONSIDERED NEW EVEN IF
IT FORMS PART OF A PRIOR
ART.
29. THE SALE OF
MORTGAGED PROPERTY
SHALL BE MADE IN A
PRIVATE AUCTION.
• 30. A GUARANTY MAY NOT
BE GIVEN AS SECURITY
FOR FUTURE DEBTS, THE
AMOUNT OF WHICH IS NOT
YET KNOWN.