Course Hero Logo

Hence a the contract of sale must be annulled since

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 239 - 243 out of 248 pages.

Hence:a.The contract of sale must be annulled since it is voidable.b.The instrument has to be enforced as is for it is the proof of the agreementbetween the parties.c.Because of negligence of the parties in signing without the first readinginstrument, they are bound by the contents of the same.d.The instrument may be reformed because it does not express the trueagreement of the parties.996.An obligation which is based on equity and natural law is known as:a.purec.civilb.quasi-contractd.natural997.If the cause is not stated in the contract, it presumed that it is not exist.a.First statement is false; second is true.b.First is true, second is false.c.Both are true.d.Both are false.998.The following are the requisites of legal compensation, except:a.That each of the obligors is bound principally and that he be the same time aprincipal creditor of the otherb.That both debts consist in a sum of money, or if the things due are consumable, theybe the same kind, and also of the same quality if the latter has been statedc.That the two (2) debts are not yet clued.That they be liquidated and demandable999. D borrowed a sum of money from C with a certain rate in interest. C now wants toincrease the rate of interest without the consent of D. What is principle in contractsprohibits C from doing so?239 |R e g u l a t o r y F r a m e w o r k f o r B u s i n e s s T r a n s a c t i o n s
a.Autonomy of contractsb.Relativity of contractsc.Mutuality of contractsd.Consensuality of contracts1000. D bought a car from J and delivered a check in payment of the same, Has D paidthe obligation?a.No, not yet, The delivery of promissory notes payable to order, or bills of exchangeor othermercantile documents shall produce the effect of payment only when theyhave been cashed, or when through the fault of the creditor they have beenimpairedb.Yes, because a check is a valid legal tender of paymentc.It depends. If the check is a manager’s check or cashier’s check it will produce theeffect of payment. If it’s an ordinary check, no paymentd.Yes, because a check is as good as cash240 |R e g u l a t o r y F r a m e w o r k f o r B u s i n e s s T r a n s a c t i o n s
241 |R e g u l a t o r y F r a m e w o r k f o r B u s i n e s s T r a n s a c t i o n s
ANSWER KEYRegulatory Framework for Business Transactions1A31B61C91B121B151A2A32A62C92B122B152B3C33A63C93C123D153A4A34D64B94D124B154D5D35D65D95C125A155C6A36B66D96D126C156B7B37B67D97C127C157A8B38B68B98D128B158D9B39C69D99D129A159A10A40C70C100B130D160A11A41A71B101A131D161A12C42A72A102C132B162C13C43A73D103A133D163A14A44B74D104A134D164B15C45C75C105A135B165A16C46C76D106D136B166C17B47D77D107A137C167D18A48B78D108B138C168C19D49D79A109A139B169C20A50C80C110D140B170B21A51A81D111C141C171D22B52C82B112B142D172C23A53A83C113D143B173D24B54C84A114B144A174B25D55C85C115D145C175A26A56D86D116C146D176C242 |R e g u l a t o r y F r a m e w o r k f o r B u s i n e s s T r a n s a c t i o n s

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 248 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
N/A
Tags

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture