Exam 3 - Answer Key

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Answer key

MCQ

1. C
2. D
3. B
4. B
5. A
6. C
7. D
8. B
9. D
10. A
11. D
12. C
13. B
14. C
15. A
16. D
17. B
18. B
19. A
20. C
21. B
22. A
23. C
24. B
25. D
26. A
27. A
28. C
29. B
30. D
31. A
32. C
33. B
34. C
35. B
36. D
37. D
38. A
39. C
40. D
41. A
42. B
43. C
44. C
45. B
46. A
47. A
48. D
49. A
50. B

True or False

1. False
2. False
3. True
4. True
5. False
6. False
7. True
8. False
9. True
10. True
11. False (it is dacion en pago)
12. True
13. True
14. True
15. False
16. False
17. True
18. True
19. False
20. True
21. False
22. False
23. True
24. False
25. True
26. False
27. False (dacion en pago)
28. True (Art. 1261)
29. False (Art. 1260)
30. True (Art. 1240)

ENUMERATION

1. There must be 2 or more creditors;


2. The debtor must be (partially) insolvent;
3. The assignment must involve all the properties of the debtor; and
4. The Cession must be accepted by the creditors.

5. Dation en payment/pago
6. Application of payment
7. Payment by cession / Cession
8. Tender of payment and consignation / consignation

9. Existence of a valid debt which is due;


10. Valid prior payment by the debtor and the refusal without justifiable reason by the creditor
to accept it;
11. Previous notice of consignation to persons interested in the fulfillment of the obligation;
12. Consignation of the thing or sum due; and
13. Subsequent notice of consignation made to the interested parties.

14. Creditor or oblige;


15. His successor in interest; or
16. Any person authorized to receive it

17. There must be 1 debtor and 1 creditor


18. There must be 2 or more debts
19. The debts must be of the same kind
20. The debts to which payment made by the debtor has been applied must be due; and
21. The payment made must not be sufficient to cover all the debts.

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