It was only when he went to the register of deeds to

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It was only when he went to the Register of Deeds to register the sale of the land and building to him that he learned of the mortgage. Which is correct? A. C can collect from D and if D cannot pay, C can foreclose the mortgage B. C can collect from D, but f D cannot pay, C cannot foreclose the mortgage C. C cannot collect from D. He can only go after the mortgage which was given as security D. C cannot foreclose the mortgage because B is a buyer in good faith 79. Which of the following is a feature common to chattel mortgage and pledge? A. Deficiency is recoverable in case of sale of the thing pledged/mortgaged B. The object of the contract is a movable property C. The excess of the proceeds of sale over the amount of the obligation belongs to the pledgor/mortgagor D. An affidavit of good faith is required to bind third persons 80. Essential elements of pledge include all of the following, except A. Pledgor is the absolute owner of the thing pledged. B. The person constituting the pledge has the free disposal of his property or if he is an agent or representative, that he is legally authorized C. The thing pledged must be placed in the possession of the creditor or of a 3 rd person by common agreement D. To bind third persons there must be an affidavit of good faith 81. Essential elements of chattel mortgage include all of the following, except A. The object is a personal or movable property B. The thing mortgaged is not delivered to the creditor C. The mortgagor can not sell without the consent of the mortgagee D. Description of the thing mortgaged must appear in a public instrument 82. Essential elements of real estate mortgage include all of he following, except A. In case of foreclosure sale, the mortgagor is entitled to the excess B. The mortgagor can sell even without the consent of the mortgagee C. The thing mortgaged must be delivered to the creditor D. To bind third persons it must be recorded in the Registry of Property 83. Which of the following statements is not correct? A. If the thing pledged is returned by the pledgee to the pledgor, the obligation is extinguished B. In sale at public auction, the pledgor may bid and his bid is valid even if he is the only bidder C. Any stipulation authorizing the pledgee to appropriate the thing pledged is void and without effect D. Shares of stock can be the object of pledge or mortgage
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Page 17 OBLIGATION AND CONTRACT 84. A was having his house repaired by B, who needed construction materials, so A orally told the seller C, “Give B the materials, I shall be responsible. I shall pay in 30 days”. C delivered the materials. As a result, A. The contract is unenforceable because A made an oral agreement to answer for the debt of B B. The contract is enforceable because A did not make a special promise to answer for the default of another person C. The contract shall be enforceable if there is ratification by A D. The contract shall be unenforceable if the value is at least P500.00 85. Which of the following statements is not correct?
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