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A. Consumable

The document defines various legal terms related to property and contracts: 1) Consumable goods are used up when used for their intended purpose while fungible goods can be replaced with identical items. 2) A precarium allows the bailor to demand return of the item at any time, terminating the agreement. 3) A bailee is liable for loss of bailed goods due to negligence or violating the agreement terms, except for losses due to fortuitous events when using due care. 4) Suretyship and guaranty refer to agreements where one party guarantees another's debt or obligation.

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KAYE JAVELLANA
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213 views1 page

A. Consumable

The document defines various legal terms related to property and contracts: 1) Consumable goods are used up when used for their intended purpose while fungible goods can be replaced with identical items. 2) A precarium allows the bailor to demand return of the item at any time, terminating the agreement. 3) A bailee is liable for loss of bailed goods due to negligence or violating the agreement terms, except for losses due to fortuitous events when using due care. 4) Suretyship and guaranty refer to agreements where one party guarantees another's debt or obligation.

Uploaded by

KAYE JAVELLANA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

A movable property which cannot be used in a manner appropriate to their nature without
their being consumed.
a. Consumable b. Non-consumable c. Fungible d. Non-fungible

2. A movable property which can be used in a manner appropriate to their nature without their
being consumed.
a. Consumable b. Non-consumable c. Fungible d. Non-fungible

3. It is where the bailor may demand the thing at will.


a. Ordinary commodatum b. Ordinary mutuum c. Precarium d. None of the above

4. The bailee is liable for the loss of the thing, even if it should be through a fortuitous event,
except:
a. If he devotes the thing to any purpose different from that for which it has been loaned
b. If he keeps it longer than the stipulated, or after the accomplishment of the use for
which the commodatum has been constituted
c. If the thing loaned has been delivered with appraisal of its value, unless there is a
stipulation exempting the bailee from responsibility in case of a fortuitous event.
d. If he lends or leases the thing to a third person, who is a member of his household.

5. If the use of the thing is merely tolerated by the bailor, he can demand the return of the
thing at will, in which case the contractual relation is
a. Precarium b. Ordinary commodatum c. Ordinary mutuum d. Deposit

6. Is a compensation fixed by the parties for the use or forbearance of money.

a. Compensatory interest b. Monetary interest c. Penalty d. Damages

7. Was defined as a “contractual obligation of lender or creditor to refrain during a given


period of time, from requiring the borrower or debtor to repay a loan or debt then due and
payable.” a. Interest b. Forbearance c. Damages d. Penalty

8. A person, called the guarantor, binds himself to the creditor to fulfill the obligation of the
principal debtor in case the latter should fail to do so.

a. Pledge b. Guaranty c. Mortgage d. Suretyship

9. Refers to an agreement whereunder one person, the surety, engages to be answerable for
the debt, default, or miscarriage of another known as the principal.
a. Pledge b. Guaranty c. Mortgage d. Suretyship

10. Is constituted from the moment a person receives a thing belonging to another, with the
obligation of safely keeping it and of returning the same.
a. Guaranty b. Deposit c. Pledge d. Loan

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