| material non-public information | It refers to an information that will affect the price of the security or would influence a person in deciding whether to buy, sell or hold a security which is not available to the public. |
| real | Which of the following is not a characteristic of contract of agency? |
| policitation | A unilateral promise or offer to sell or to buy a thing which is not accepted creates no juridical effect or legal bond. Such unaccepted imperfect promise or offer is called |
| agency by estoppel or implication | The principal cannot deny the existence of the agency after third parties, relying on his conduct, have had dealings with the supposed agent. This method of creating an agency is known as |
| 10 | The rights to a trademark shall be years from registration. |
| Marking the close | Placing of purchase or sale order, at or near the close of the trading period in order to affect the closing price likewise affecting the opening price the following day. |
| Concurrence of credits | It implies the possession by two or more creditors of equal rights or privileges over the same property or all of the property of a debtor. |
| Compromise | It is a contract whereby the parties, by reciprocal concessions, avoid a litigation or put an end to one already commenced. It is the amicable settlement of a controversy. |
| The agent acts for himself. | Which is not an essential element of agency? |
| sale by description | This sale occurs where a seller sells things as being of a particular kind, the buyer not knowing whether the seller's representations are true or false, but relying on them as true; or, as otherwise stated, where the purchaser has not seen the article sold and relies on the description given him by the vendor, or has seen the goods but the want of identity is not apparent on inspection. |
| ostensible or representative | Agency where the agent acts in the name and representation of the principal. |
| A member of the board of directors or trustees of a corporation cannot validly act by proxy. | Which of the following relates to personal acts? |
| traditio longa manu | This mode of delivery takes place by the mere consent or agreement of the contracting parties as when the vendor merely points to the thing sold which shall thereafter be at the control and disposal of the vendee. |
| contract of agency | By this contract, a person binds himself to render some service or to do something in representation or on behalf of another, with the consent or authority of the latter. |
| Bill of lading | It is a contract and a receipt for the transport of goods and their delivery to the person named therein, to order, or to bearer. |
| accomplishment of the object or purpose of the agency | Under the law, agency may be terminated by the subsequent acts of the parties. Which of the following is not an example of extinguishment by subsequent acts of the parties? |
| warranty | It is a statement or representation made by the seller of goods, contemporaneously and as a part of the contract of sale, having reference to the character, quality, or title of the goods, and by which he promises or undertakes to insure that certain facts are or shall be as he then represents them. |
| all of the choices are principal obligations of vendor. | Which of the following is not a principal obligation of the vendor? |
| consensual | Which is not a characteristic of a contract of ? |
| future goods | Goods to be manufactured (like the sale of milk bottles to be manufactured with the name of the buyer pressed in the glass), raised (like the sale of the future harvest of palay from a ricefield), or acquired (like the sale of a definite parcel of land the seller expects to buy). |
| 7 | The Securities and Exchange Commission is composed of a Chairman and __________ Commissioners who are given a 7-year term and has security of tenure to protect them from political influence. |
| Circulating or Disseminating Information On Share Price Movement | It involves people providing information that the price of any security listed in the exchange will or is likely to rise or fall because of manipulative market operations of any one or more persons conducted for the purpose of raising or depressing the price of the security and thus inducing the purchase or sale of such security. |
| Broker | One who is engaged for others on a commission; a negotiator between other parties, never acting in his own name but in the name of those who employed him. |
| Implied warranty as to seller's title | The seller guarantees that he has a right to sell the thing sold and to transfer ownership to the buyer who shall not be disturbed in his legal and peaceful possession thereof |
| In dation in payment, there is more freedom in fixing the price than in sale. | Which of the following is incorrect? |
| onerous | Agency where the agent receives compensation for his services. |
| insider | He is a person whose relationship or former relationship to the issuer gives or gave him access to material non-public information. |
| Attorney-in-fact | One who is given authority by his principal to do a particular act not of a legal character. |
| resolutory condition | An uncertain event upon the happening of which the obligation (or right) subject to it is extinguished. Hence, the right acquired in virtue of the obligation is also extinguished. |
| P50,000,000 | Reportorial requirements shall apply to an issuer with assets of at least |
| January 1, 1998 | Republic Act No. 8293 took effect on what date? |
| In lease of service, the basis is representation, while in agency, it is employment. | Which is false? |
| Sale on trial or approval | It is a contract in the nature of an option to purchase if the goods prove satisfactory, the approval of the buyer being a condition precedent. |
| To lease any real property to another person for one year. | Special powers of attorney are necessary in the following cases except |
| trade name | It means the name or designation identifying or distinguishing an enterprise. |
| 10 | The offeror will report the results of the tender offer by filing with the Commission, not later than _________ calendar days after the termination of the tender offer, copies of the final amendments to the form. |
| 40 days | The action for rescission or reduction of the price must be brought within the proper period — 6 months from the delivery of the thing sold or within _____________________ from the date of the delivery in case of animals |
| Estoppel | It is a bar which precludes a person from denying or asserting anything contrary to that which has been established as the truth by his own deed or representation either express or implied. |
| An investment of money | Which is not a security? |
| "Sale or return" is a sale subject to a suspensive condition, while sale on trial is subject to a resolutory condition. | Which of the following is false? |
| Mutuum | It is a contract whereby one of the parties delivers to another money or other consumable thing with the understanding that the same amount of the same kind and quality shall be paid. |
| antichresis | By this contract, the creditor acquires the right to receive the fruits of an immovable of his debtor, with the obligation to apply them to the payment of the interest, if owing, and thereafter to the principal of his credit. |
| authority | It is the power of the agent to affect the legal relations of the principal by acts done in accordance with the principal's manifestation of consent to him. |
| Instructions | They are private directions which the principal may give the agent in regard to the manner of performing his duties as such agent but of which a third party is ignorant. |
| usage of trade | It is any practice or method of dealing having such regularity of observance in a place, vocation or trade as to justify an expectation that it will be observed with respect to the transaction in question. |
| Accidental Elements | Elements which may be present or absent depending on the stipulations of the parties, such as conditions, interest, penalty, time or place of payment, etc. |
| Emptio rei speratae | The sale of a thing not yet in existence subject to the condition that the thing will exist and on failure of the condition, the contract becomes ineffective and hence, the buyer has no obligation to pay the price. |
| None of the choices | In general, the actions available for breach of the contract of sale of goods are the following except |
| short sale | Selling the security which the vendor does not own and borrowed only from another. This is not illegal per se but only regulated. |
| Intellectual Property Code of the Philippines | It is otherwise known as Republic Act No. 8293, as amended by Republic Act No. 10372. |
| warranty of merchantability | It is a warranty that goods are reasonably fit for the general purpose for which they are sold. |
| Both are divisible. | Which is not one of the similarities between and ? |
| factor | One whose business is to receive and sell goods for a commission, being entrusted with the possession of the goods involved in the transaction |
| contract of sale | It is an agreement whereby one of the parties obligates himself to deliver something to the other who, on his part, binds himself to pay therefor a sum of money or its equivalent. |
| prescription | By this, one acquires ownership and other real rights through the lapse of time in the manner and under the conditions prescribed by law. In the same way, rights and actions are lost by prescription. |
| 1% | The second procedure in the registration for sale and distribution of securities is the payment of the filing fees which shall not exceed 1/10 of ____________ of the aggregate price at which such securities are proposed to be offered. |
| Boiler Room Operations | It involves an intensive selling campaign through numerous salesmen by telephone or through direct mail offerings for securities of either a certain type or from a specific issuer. |
| universal agent | One employed to do all acts that the principal may personally do, and which he can lawfully delegate to another the power of doing. |
| Consciente | It is a kind of waiver of eviction where the waiver is voluntarily made by the vendee without the knowledge and assumption of the risks of eviction. |
| traditio brev manu | Constructive delivery is a general term comprehending all those acts which, although not conferring physical possession of the thing, have been held by construction of law equivalent to acts of real delivery. It may be effected in any of the following ways except |
| Accessory | Which of the following is not one of the characteristics of contact of sale? |
| voluntary | Deposit wherein the delivery is made by the will of the depositor or by two or more persons each of whom believes himself entitled to the thing deposited |
| Sale by virtue of authority in fact or law | No warranty of title is implied in a sale by one not professing to be the owner. |
| eviction | It may be defined as the judicial process, whereby the vendee is deprived of the whole or part of the thing purchased by virtue of a final judgment based on a right prior to the sale or an act imputable to the vendor. |
| Attorney at law | One whose business is to represent clients in legal proceedings. |
| insider trading | It occurs when an insider in possession of material non-public information buys or sells a security. |
| registration | The rights in a mark shall be acquired through |
| the place of delivery is that agreed upon | Should the buyer take possession of the goods or should the seller send them? In other words, where is the place of delivery? |
| equitable | One which, although it lacks the proper formalities or other requisites of a required by law, nevertheless reveals the intention of the parties to burden real property as a security for a debt, and contains nothing impossible or contrary to law. |
| All of the choices are true. | Which of the following is false regarding earnest money and option money? |
| right of usufruct | Which of the following rights may be the object of a contract of sale? |
| commodatum | Loan where the bailor delivers to the bailee a non-consumable thing so that the latter may use it for a certain time and return the identical thing |
| mark | It means any visible sign capable of distinguishing the goods or services of an enterprise and shall include a stamped or marked container of goods. |
| Novation | It is the extinction of an obligation through the creation of a new one which substitutes it by changing the object or principal conditions thereof, substituting a debtor, or subrogating another in the right of the creditor. |
| the price paid, the expenses of the contract and damages | If the vendor was aware of the hidden defects in consequence of which the thing sold was lost, he shall bear the loss because he acted in bad faith. In such case, the vendee has the right to recover |
| judicial | Guaranty required by a court to guarantee the eventual right of one of the parties in a case. |
| deposit | It 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. |
| general agent | One employed to transact all the business of his principal, or all business of a particular kind or in a particular place, or in other words, to do all acts, connected with a particular trade, business, or employment. |
| foreclosure | It is the remedy available to the mortgagee by which he subjects the mortgaged property to the satisfaction of the obligation to secure which the was given. |
| 35% | Mandatory Tender Offer applies to any person who intends to acquire at least _________ over a period of 12 months (previously 30, increased by the SEC pursuant to Section 72.1 of the SRC) of any class of any equity security of listed corporations or corporations with assets of at least P50,000,000 and having at least 200 shareholders who each have at least 100 shares . |
| Motel | It has been defined as "an establishment which provides lodging and parking and in which the rooms are usually accessible from an outdoor parking area." |
| Equity of redemption | Right of the mortgagor in case of judicial foreclosure to redeem the mortgaged property after his default in the performance of the conditions of the but before the confirmation of the sale of the mortgaged property. |
| suretyship | It may be defined as a relation which exists where one person has undertaken an obligation and another person is also under a direct and primary obligation or other duty to a third person, who is entitled to but one performance, and as between the two who are bound, the one rather than the other should perform. |
| wash sale | Any transaction in a security which involves no change in the beneficial ownership. |
| guaranty | By this, a person binds himself to the creditor to fulfill the obligation of the principal debtor in case the latter should fail to do so. |
| Antichresis is a real contract, while is a consensual contract. | Which of the following is false? |
| real | It is a contract whereby the debtor secures to the creditor the fulfillment of a principal obligation, specially subjecting to such security immovable property or real rights over immovable property which obligation shall be satisfied with the proceeds of the sale of said property or rights in case the said obligation is not complied with at the time stipulated. |
| Free disposal of the property | It means that the property must not be subject to any claim of a third person. |
| mutuum is a loan for use or temporary possession | Which of the following is incorrect? |
| The correct answer is: | It is a contract by virtue of which the debtor delivers to the creditor or to a third person a movable or document evidencing incorporeal rights for the purpose of securing the fulfillment of a principal obligation with the understanding that when the obligation is fulfilled, the thing delivered shall be returned with all its fruits and accessions. |
