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RFBT > Contracts 1 > Flashcards

Contracts 1 Flashcards

1
Q

TRUE OR FALSE

A contract is a meeting of the minds between two contracting parties which takes place when an offer made by one is accepted as such by the other.

A

TRUE

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2
Q

TRUE OR FALSE

A contract cannot be given effect if it is contrary to law because law is superior to contract.

A

TRUE

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3
Q

TRUE OR FALSE

The impossibility of anticipating all forms of agreement on one hand, and the progress of man’s sociological and economic relationships on the other justify the
provision on innominate contracts.

A

TRUE

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4
Q

TRUE OR FALSE

When a law requires that a contract be in some form to be valid, the compliance therewith is not necessary for its perfection.

A

FALSE

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5
Q

TRUE OR FALSE

Prescription or the lapse of time can cure the defects of unauthorized contracts.

A

FALSE

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6
Q

TRUE OR FALSE

Natural elements are those without which no contract can validly exist.

A

FALSE

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7
Q

TRUE OR FALSE

Natural elements are those presumed to exist in certain contracts unless the contrary is expressly stipulated as such by the parties.

A

TRUE

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8
Q

TRUE OR FALSE

Cause is one of the common elements of a contract.

A

TRUE

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9
Q

TRUE OR FALSE

The offer must be certain and definite and it is necessary that the acceptance will be identical with the offer for there to be a contract.

A

TRUE

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10
Q

TRUE OR FALSE

Earnest money is the money paid or promised to be paid in consideration for the option.

A

FALSE

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11
Q

TRUE OR FALSE

If a business advertisement is complete in all the particulars necessary in a contract, it may amount to a definite offer.

A

TRUE

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12
Q

TRUE OR FALSE

Mistake as to the quantity or amount does not vitiate consent but only gives rise to its correction.

A

TRUE

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13
Q

TRUE OR FALSE

Mistake of law does not invalidate consent because ignorance of the law excuses no one from compliance therewith.

A

TRUE

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14
Q

TRUE OR FALSE

The threat of a court action as a means to demand compliance of an obligation vitiates consent.

A

FALSE

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15
Q

TRUE OR FALSE

The object in a contract must be determinate or determinable even if it would need a new contract between the contracting parties.

A

FALSE

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16
Q

TRUE OR FALSE

Absence or want of cause means that there is a valid cause in a contract but it is still determinable.

A

FALSE

17
Q

TRUE OR FALSE

Falsity of cause means that the contract states a valid cause but such statement is not true.

A

TRUE

18
Q

TRUE OR FALSE

In order to be valid, the power to administer property must be in writing and notarized as such by a notary public.

A

FALSE

19
Q

TRUE OR FALSE

There can be no reformation of instruments in last wills and testaments.

A

TRUE

20
Q

TRUE OR FALSE

If the words appear to be contrary to the evident intention of the parties, the stipulations in the contract will be given effect.

A

FALSE

21
Q

TRUE OR FALSE

If a word is susceptible of two or more meanings, it is understood in that sense which is most in keeping with the wishes of the creditor.

A

FALSE

22
Q

TRUE OR FALSE

Natural obligations give a right of action to compel the compliance thereof.

A

FALSE

23
Q

TRUE OR FALSE

When a right to sue upon a civil obligation has lapsed as such by extinctive prescription, the obligor who voluntarily performs the contract cannot recover what he has delivered as well as the value of the service he has rendered.

A

TRUE

24
Q

TRUE OR FALSE

Civil obligations, being based on equity, do not grant a right of action to enforce
compliance, but after voluntary fulfilment by the obligor, they authorize the
retention of what has been delivered or rendered as such by reason thereof.

A

FALSE

25
Q

TRUE OR FALSE

An unenforceable contract is null and void.

A

FALSE

26
Q

Clover sold a parcel of land to Alexandra. It is not disputed that the reasonable
value of the land is P100,000. However, the contract of sale states that the
purchase price is P10,000.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

VALID

27
Q

Piolo, 35 years old, sold a parcel of land to Santino, 9 years old.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

VOIDABLE

28
Q

Edward, guardian of Seth, was authorized as such by the court to sell Seth’s 2
parcels of land for P200,000 each. Edward sold one piece to Bella for only P100,000.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

RESCISSIBLE

29
Q

Upin sold his yellow car to Ipin for P100,000. All the while, Ipin thought that he
is buying the silver car of Upin.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

VOID

30
Q

As of today, May 18, 2022, Zack verbally entered into a contract with Cody
wherein Cody will rent the house of Zack starting June of 2023.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

UNENFORCEABLE

31
Q

Bailey verbally entered into a contract with London where Bailey will rent London’s pink car for 10 months.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

VALID

32
Q

Candace, 16 years old, entered into a contract with Jeremy, also 16 years old, whereby Candace will sell to Jeremy her new bicycle for P5,000.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

UNENFORCEABLE

33
Q

Zack verbally sold to Cody a small piece of real property for P350.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

UNENFORCEABLE

34
Q

Mia sold to Bailey 2 pieces of smuggled pink bicycles for P10,000 each. Bailey
only paid P1,000 for each and London on her part delivered only 4 bicycle
wheels.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

VOID

35
Q

Kim Possible verbally sold to Ron Stoppable her laser flashlight for P550.

a. Valid
b. Void
c. Unenforceable
d. Voidable
e. Rescissible

A

UNENFORCEABLE

RFBT (8 decks)

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