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Cred Trans Midterms

The document provides instructions for an exam. It states that the exam will have 20 questions worth 5 points each, with the opportunity to earn bonus points for following formatting guidelines. It will be handwritten and recorded, with answers sent privately after to the instructor's Telegram and uploaded to Google Drive as a PDF or numbered images. Exams not uploaded will not be graded. The ALAC format is to be used for answers.

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Jane Biebs
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30 views

Cred Trans Midterms

The document provides instructions for an exam. It states that the exam will have 20 questions worth 5 points each, with the opportunity to earn bonus points for following formatting guidelines. It will be handwritten and recorded, with answers sent privately after to the instructor's Telegram and uploaded to Google Drive as a PDF or numbered images. Exams not uploaded will not be graded. The ALAC format is to be used for answers.

Uploaded by

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

1. Handwritten answers ONLY.


2. Enter the Zoom session on time and TURN ON YOUR CAMERA.
3. Position your camera so that I may be able to see your hands at all times.
4. You cannot use your mobile devices.
5. You may only “access” your laptop when you are scrolling down the questions.
6. After answering please send your answers to MY TELEGRAM VIA PRIVATE
PM.
7. Immediately after, please upload the same to google drive (PDF only OR
properly numbered jpegs)
8. I will NOT check exams which are not uploaded in our Gdrive. Your act of
sending your answers to the group will only serve as a TIME-STAMP.
9. There are 20 questions. Five points each.
10. Answer using the ALAC format. Bonus points (maximum of 5 points) will be
given if you properly followed the ALAC format and your paper is neat (proper
erasures, good handwriting, proper margins).
11. The session will be recorded.

I. If you deposit your money in the bank, did you enter into a contract of loan
or deposit? Why?

II. X applied for an industrial loan with Y. The loan application was approved.
Ten years thereafter, X sued Y alleging that Y failed to release the funds. Y
contented that X has no cause of action because the loan has not yet been
released, hence the contract of loan was not perfected. Is Y correct?

III. L lends a car to B. L knows that the car overheats immediately but did not
tell the same to B. After driving for 10 kilometers, B noticed that there is
smoke coming from the hood. B popped open the hood and removed the
radiator cap. As a result he was sprayed with boiling water from the
radiator. B incurred substantial medical expenses and he sued L for the
damage caused to him. If you are the counsel of L, how will you argue your
case? (In your answer, please identify the relevant concept we discussed in
class and explain why it is/is not applicable. Discussion of concepts outside
of credtrans may be given minimal partial credit)

IV. Identify the problems of this provision in a loan contract: The Borrower
shall pay interest on the Loan at a rate of 3% per month from the date of the
proceeds of the loan are released until five years thereafter. The Lender can
increase the interest rate of the loan pursuant to the prevailing market rates.
The adjusted rate shall be effective immediately upon notification of the
revised rate to the borrower.

V. X borrowed from Y ten sacks of Cavite Mountain rice payable after six
months. At the time of the creation of the obligation, the price of Cavite
Mountain Rice per sack is 500 pesos. The debt is now due and demandable.
However, X is having problems because the price of Cavite Mountain Rice
per sack has risen by 50%. How should X pay Y? Discuss with reasons.

VI. When is the hotel-keeper liable for loss regardless of the amount of care
exercised?

VII. X , in an oral contract of loan, granted a loan to Y in the amount of Php. 540,
000.00. X demanded interest which was paid by Y in cash and checks. The
total amount Y paid accumulated to P 1, 200, 000.00. Upon advice of her
lawyer, Y demanded for the return of the excess amount of P 660, 000.00
which was ignored by X. Is the payment of interest valid? Consequently,
can Y demand the return of the excess amount? Explain.

VIII. A, upon request, loaned his passenger Volvo to B to enable B to bring his
sick wife from Cavite to St. Lukes for treatment. On the way back to Cavite,
after leaving his wife at the hospital, people stopped the Volvo (because
they thought it was an Uber). B stopped for them and allowed them to ride
on board, accepting payment from them just as in the case of uber ordinary
passengers. As B was crossing Bamban, typhoon Ulysses hit the Philippines.
As a result, the Volvo was destroyed. 1) What do you call the contract that
was entered into by A and B? 2) Is B liable to A? Why or Why not?

IX. The year is 1995. A sues B for (a) collection on a promissory note for a loan,
with no agreement on interest, on which B defaulted, and (b) damages
caused by B on his A priceless Alcuaz painting. The Court ruled in favor of
A, finding B liable for both claims. If the Court will award interest, what
rates of interest may the court impose, in its judgment dated 1 January 1996,
with respect to both claims? Explain.

X. Differentiate mutuum from commodatum.

XI. X borrowed Y’s truck. During a fire in the garage of X, he had time to only
save one vehicle and he saved his Ferrari instead of Y’s truck. 1) what is the
contract entered into by X and Y? 2) Can Y recover the value of his truck
from X? (5 points each)

XII. A rented a safety deposit box in BPI Marikina (which was located in the
basement level of Marikina riverside mall). A put her most valuable
paintings in the said safety deposit box. Three days after, Typhoon Ulysses
hit the Philippines. As a result, BPI Marikina was totally submerged
underwater. Consequently, all of A’s prized paintings were destroyed. Can
A now recover the value of the paintings from BPI Marikina? Why or why
not? (5 points each)

XIII. Five points each, the amount of point you will get will depend on the quality
of your answers and explanation: Imagine that you are already going to take
the bar examinations. List the top five things that you need to remember
from each of the following topics and explain each concept in two to three
sentences:
a. Warehouse Receipts Law
b. Deposit

XIV. When will the warehouseman be liable for altered receipts? Up to what
extent?

XV. When will there be a compounding of interest rates?

XVI. What is a precarium?

XVII. What are the remedies for a warehouseman to enforce his lien?

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