Obligations and Contracts Quiz

According to Article 1158, "Obligations arising from contracts have the force of law between the contracting parties and should be complied with in good faith."

• True

• False

Extrajudicial demand is one made outside of the court and which may be made orally or in writing.

• True

• False

In case an extraordinary inflation or deflation of the currency stipulated should supervene, the value of the currency at the present time shall be the basis of payment, unless there is an agreement to the contrary.

• True

• False

A real right, also called ______, such as the right of possession or ownership, is one that is enforceable against the whole world.

The law of obligations and contracts known as the Civil Code of the Philippines, was approved as ______ on June 18, 1949 and took effect August 30, 1950.

The debtor's liability for future fraud can be waived.

• True

• False

If the obligation is a pure obligation or one whose performance is not subject to a suspensive period or suspensive condition, the obligation to deliver arises from its perfection.

• True

• False

_________ - One in which only the penalty maybe demanded.

A condition that depends upon chance or upon the will of a third person is known as _______.

The act of the debtor of offering to the creditor what is due him is referred to as ______.