ICCT COLLEGES FOUNDATION INC.
VV. Soliven Ave. II, Cainta, Rizal
BLAW100 FINAL EXAM
NAME: __________________________________________________ SECTION: ______SCORE_______
I. Word Pool
A. Payment by cession B. Extraordinary inflation C. Tender of payment
D. Dation in payment E. Extraordinary deflation F. Loss
G. Legal tender H. Voluntary or conventional I. Inter vivos
J. Confusion or merger K. Assignment of credits L. Deposit
M. Commodatum N. Novation O. Real or objective novation
1. It is the abandonment or assignment by the debtor of all his properties in favor of his creditors so that
the latter may sell them and recover their claims out of the proceeds.
2. It is whereby property is alienated to the creditor in satisfaction of a debt in money, shall be governed
by the law of sales.
3. It is the money or currency which a debtor may compel his creditor to accept in payment of his debt,
whether public or private. It is the money that is legally valid for the payment of debts and that must be
accepted for that purpose when offered.
4. It is understood to be any uncommon decrease in the purchasing power of the currency which the parties
could not have reasonably foreseen and has been due to war or the effect thereof, or any other unusual
force majeure or fortuitous event.
5. It is understood to be any uncommon increase in the purchasing power of the currency which the parties
could not have reasonably foreseen and has been due to war or the effect thereof, or any other unusual
force majeure or fortuitous event.
6. It is which agreed upon by the parties and which requires the consent of all the creditors.
7. It is the act of the debtor of offering to the creditor what is due him.
8. A thing is considered lost when it perishes, or goes out of commerce, or disappears in such a way that
its existence is unknown or it cannot be recovered.
9. It is one that takes effect during the lifetime of the donor (creditor)
10. It is the meeting in one person of the characters of debtor and creditor. The obligation here is extinguished
because it is now absurd for the creditor to claim payment from himself.
11. A contract whereby a person (assignor) transfers his credit, right or action against a third person to
another (assignee) for a consideration certain in money or its equivalent.
12. A contract whereby a person receives a thing belonging to another with the obligation of safely keeping
it and of returning the same.
13. A contract whereby a party delivers to another a non-consumable thing so that the latter may use the
same for a certain time and return it.
14. It is the modification or extinguishment of an obligation by another, either by changing the object or
principal condition, substituting the person of the debtor, or subrogating a third person in the rights of
the creditor.
15. A novation by changing the object or principal condition.
II. Identification
1. Not only the delivery of money but includes the performance of an obligation in any
other manner.
2. The proceeding in which the court orders the debtor not to make payment to his
creditor, but to the creditor of his creditor.
3. An objective novation of the obligation where the thing offered as an accepted
equivalent of performance is considered as the object of contract of sale, while the debt
is considered as the purchase price.
4. A sharp sudden increase in money and credit or both without a corresponding increase
in business transactions.
5. A sharp sudden decrease in money or credit or both without a corresponding decrease
in business transactions.
6. The designation of the debt to which payment shall be applied when the debtor owes
several debts in favor of the same creditor.
7. This is governed by the Insolvency Law and requires that majority of the creditors must
agree.
8. The act of depositing the sum or thing due with judicial authorities whenever the
creditor refuses without just cause to accept the same, or in cases when the creditor
cannot accept it.
9. It is the gratuitous abandonment by the creditor of his right. In plain language, this
refers to the forgiveness of indebtedness. To extinguish the obligation, the consent of
the debtor is required.
10. It is one that takes effect upon the death of the donor (creditor) and partakes of the
nature of a testamentary disposition.
11. It is one that takes place by operation of law.
12. It is one that takes place by agreement of the original parties and the third person.
13. It is the substitution of another person in the place of the creditor, so that the person in
whose favor it is exercised succeeds to the right of the creditor in relation to the debt.
14. This is substitution of debtors initiated by the debtor himself where a third person
assumes the obligation with the creditor’s consent.
15. This is substitution of debtors initiated by a third person who assumes the obligation
with the creditor’s consent.
III. Morse Type A. Both statement is Correct
B. Both statement is Incorrect
C. First statement is correct and second statement is incorrect
D. First statement is incorrect and second statement is correct
1. A. Compensation is a mode of extinguishing an obligation when two persons, in their own right, are
debtors and creditors of each other
B. Total is when the debts are of the same amount.
2. A. Legal is when the debts are of different amounts.
B. Partial is one that takes place by operation of law.
3. A. Voluntary or conventional is one that takes place by agreement of the parties.
B. Judicial is one that is ordered by the court.
4. A. Facultative is one that may be claimed or opposed by one of the parties.
B. Personal or subjective novation is a novation by change of the parties (debtor or creditor)
5. A. Implied novation is a novation declared in unequivocal terms.
B. Express novation is when the old and the new obligation are on every point incompatible with each
other.
6. A. Partial or modificatory novation is when the old obligation is totally extinguished.
B. Total or extinctive novation is when the old obligation remains in force except as it has been
modified
7. A. Expromision is a substitution of debtors initiated by a third person who assumes the obligation with
the creditor’s consent.
B. Delegacion is a substitution of debtors initiated by the debtor himself where a third person assumes
the obligation with the creditor’s consent.
8. A. Subrogation is the substitution of another person in the place of the creditor, so that the person in whose
favor it is exercised succeeds to the right of the creditor in relation to the debt.
B. Conventional subrogation is one that takes place by agreement of the original parties and the third
person.
9. A. Legal subrogation is one that takes place by operation of law.
B. Real or objective novation is novation by changing the object or principal condition.
10. A. Deflation is a sharp sudden increase in money and credit or both without a corresponding increase in
business transactions.
B. Inflation is a sharp sudden decrease in money or credit or both without a corresponding decrease in
business transactions.
ANSWER KEY
I.
1Payment by cession
2.Dation in payment
3.Legal Tender
4.Extraordinary Inflation
5.Extraordinary Deflation
6.Voluntary or convetional
7.Tender of payment
8.Loss
9.Inter vivos
10.Confusion or merger
11.Assignment of credits
12.Deposit
13.Commodatum
14.Novation
15.Real or objective novation
II.
1.PAYMENT
2.Garnishment
3.Dacion en pago / adjudicacion en pago / datio in solutum
4.Inflation
5.Deflation
6.Application of payment
7.Legal cession by operation of law
8.Consignation
9.Condonation or remission
10.Mortis causa
11.Legal subrogation
12.Conventional subrogation
13.Subrogation
14.Delegacion
15.Expromision
Morse Type
1.A
2.B
3.A
4.A
5.B
6.B
7.A
8.A
9.A
10.B
