FAR EASTERN UNIVERSITY

Institute of Accounts, Business and Finance

Midterm Assessment
Law on Obligations and Contracts
2nd Sem | A.Y. 2019 – 2020

Atty. John Joseph S. Tamares, REB

MULTIPLE CHOICE QUESTIONS

1. Faith Malou hired you as a consultant and presented to you the following statements for an advice:
I. D owes C1 P100,000 which is secured by a pledge of D’s necklace. D also owes C2 P50,000
which is unsecured. C2 pays C1 P100,000 without D’s knowledge.
II. D owes C P500,000 secured by the guaranty of G. T pays C with the tacit approval of D.
III. D owes C P1,000,000 secured by a mortgage of D’s lot and the guaranty of G. G pays C without
D’s knowledge.

In which of the foregoing cases is the payor legally subrogated in the rights of C to go after D and
the security of the debt?
a. Cases I and II.
b. Cases II and III.
c. Cases I and III.
d. Cases I, II, and III.

2. Alakdan is obliged to give an unlicensed revolver to General Tirante. Later, the parties agreed that
Alakdan would give General Tirante a toy air gun.
a. The novation is valid because the new obligation is valid.
b. The novation is valid. The defect in the old obligation is deemed cured because the new
obligation is valid.
c. The novation is void because the old obligation is inexistent; hence, there is nothing to novate.
d. The old obligation subsists because it cannot be replaced by a new one even if it is valid.

3. Expromission is different from delegacion in that in expromission:

a. All the parties (delegante, delegatorio and delegado) must give their consent to the substitution of
debtors.
b. The new debtor is always entitled to demand reimbursement of what he paid and to
subrogation.
c. The insolvency of the new debtor may revive the right of the creditor to go after the original
debtor.
d. The substitution of the original debtor by a new one is initiated by a third person.

4. Lola Flora owes Onanay P50,000 representing the amount that Onanay paid to Jade, a creditor of
Lola Flora, who resides in Makati City. Onanay incurred bank charges, transportation and other
expenses amounting to P1,500 in remitting the payment to Jade. Onanay, on the other hand, owes
Lola Flora P50,000 representing the amount that Lola Flora paid to Jackie, a creditor of Onanay,
who resides in Matapat City. Lola Flora incurred bank charges, transportation and other expenses
amounting to P1,800 in remitting the payment to Jackie. Bot the principal debts are due.

I. Both the principal debts are extinguished by compensation.

II. Onanay must pay Lola Flora P300.

a. Both statements are true.

b. Both statements are false.
c. Only statement I is true.
d. Only statement II is true.
Items 5 and 6 are based on the following information:

Pabebe Boy owes Pabebe Girl P80,000 which is due on May 20. On the other hand, Pabebe Girl owes
Pabebe Boy the following debts: P30,000 due on May 2; P10,000 due on May 9; P20,000 due on May 15;
and P5,000 due on May 21.

5. If on May 14, Pabebe Girl assigned her credit right to Paasa Boy with notice to Pabebe Boy but
Pabebe Boy did not give his consent to the assignment, how much may Paasa Boy collect from
Pabebe Boy on May 20?
a. P40,000.
b. P20,000.
c. P15,000.
d. Nothing, because Pabebe Boy did not give his consent to the assignment.

6. Assume that on May 14, Pabebe Girl assigned her credit right to Paasa Boy without informing
Pabebe Boy whp learned of the assignment only on May 18. How much may Paasa Boy collect from
Pabebe Boy on May 20?
a. P40,000.
b. P20,000.
c. P15,000.
d. Nothing, because Pabebe Boy was not notified at the time of assignment.

7. Compensation is different from merger because in compensation:

a. There are two debtors and two creditors.
b. There is one debtor and creditor.
c. The debtor and creditor refer to the same person.
d. Payment is impossible.

8. Cardo Dalisay borrowed P1,000,000 from Victor Magtanggol. Cardo Dalisay executed a
promissory note payable to the order of Victor Magtanggol and mortgaged his lot to secure the
debt. Before the due date, Cardo Dalisay sold the lot to Victor Magtanggol. The sale of the lot to
Victor Magtanggol:
a. Extinguished both the loan obligation and the mortgage.
b. Extinguished the loan obligation only.
c. Extinguished the mortgage only.
d. Extinguished neither the loan obligation nor the mortgage.

9. Alfa, Beta and Charkie are solidary debtors of Payongayong for P9,000. The debt is evidenced by a
note executed by all the debtors and payable to the order of Payongayong. Payongayong indorsed
the note to Delta, and Delta to Echoe. On the date of maturity, Echoe indorsed the note to Alfa. The
indorsement to Alfa produced which of the following effects?
a. The total obligation of P9,000 is extinguished. Alfa can go after B and C for reimbursement at
P3,000 each.
b. Only P3,000 representing the share of Alfa is extinguished. Alfa, as the new creditor in his own
right, can go after Beta and Charkie to collect P3,000 each.
c. The total obligation of P9,000 is extinguished. Alfa can go after Beta and Charkie to collect
P3,000 each by virtue of his right as the new creditor of the note.
d. No part of the note is extinguished because the indorsement made by Echoe was not in favor
of all the debtors.

10. As her consultant, Malou Wang presented to you the following presumptions on condonation:
I. The debt is presumed remitted if the public document evidencing a credit is voluntarily
delivered by the creditor to the debtor.
II. The private document evidencing a credit is presumed to have been voluntarily delivered by
the creditor to the debtor if it is found in the possession of the debtor.
III. The accessory obligation of pledge is presumed to have been remitted when the thing pledged,
after its delivery to the creditor, is found in the possession of the debtor, or of a third person
who owns the thing.

In your evaluation of the foregoing statements:

a. Statements I and II are true.

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 b. Statements II and III are true.
c. Statements I and III are true.
d. Statements I, II and III are true.

Items 11 to 13 are based on the following information:

The following properties are involved in a condonation:

I. Immovable property;
II. Movable property whose value exceeds P5,000;
III. Movable property whose value is P5,000 or below.

11. The condonation that must be in a public instrument together with the acceptance thereof in order
that it may be valid is one that involves:
a. I only.
b. II only.
c. III only.
d. I, II and III.

12. The condonation that is valid although it is in a private instrument together with the acceptance
thereof is one that involves:
a. I and II.
b. II and III.
c. I and III.
d. I, II and III.

13. The condonation that is valid although it is made orally, in a private instrument, or in a public
instrument, together with the acceptance thereof is one that involves:
a. I only.
b. II only.
c. III only.
d. None of the above.

14. The loss of a determinate thing through a fortuitous event will not extinguish an obligation,
EXCEPT:
a. When the debtor has incurred in delay.
b. When the nature of the obligation requires the assumption of risks.
c. When the law provides that there shall be liability even in case of loss through a fortuitous
event.
d. When the debt proceeds from a criminal offense and the creditor is in mora accipiendi.

15. Dada issued a promissory note payable to the order of Cada. The note amounted to P100,000 and
bears interest at 12% per annum. On the due date, Baca approached Dada and informed the latter
that the note was indorsed to him but that he had lost it. He now demanded payment from Dada
by presenting an affidavit of loss. Dada does not want any payment and now approaches you on
which course of action he should take. What course of action will you tell Dada to take?
a. Tender of payment.
b. Consignation.
c. Consignment.
d. Assignment.

16. The expenses of consignation when properly made shall be shouldered by:
a. The debtor.
b. The creditor.
c. The debtor and creditor equally.
d. All the persons interested in the obligation equally.

17. Bangbang owes Bengbeng P1,000,000. On due date, Bangbang tendered payment amounting to
P1,000,000 in 50,000 pieces of P20 bills. Bengbeng refused to accept the payment and demanded
that she be paid in P1,000 bills. Based on the foregoing, which of the following statements is
INCORRECT?
a. Bangbang’s tender of payment is valid.

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 b. Bengbeng’s refusal to accept payment is not justified since the amount being tendered is legal
tender.
c. Bengbeng’s refusal to accept payment is justified on the ground that 50,000 pieces of P20 bills
are too bulky.
d. Bangbang may deposit the payment in court by way of consignation.

18. Bingbing owes Bongbong P50,000. On due date, Bingbing tendered payment amounting to P50,000
consisting of 50,000 pieces of P1.00 coins. Bongbong refused to accept the payment and demanded
that he be paid in bills.
a. Bingbing may deposit the payment in court by way of consignation.
b. Bongbong’s refusal to accept the payment is not justified because the payment being offered is
actual money.
c. Bongbong’s refusal to accept the payment is justified because the payment being offered is not
legal tender.
d. Bingbing’s tender of payment is valid.

19. The act of the debtor of offering his payment to the creditor is known as:
a. Tender of payment.
b. Consignation.
c. Consignment.
d. Assignment.

20. The following are characteristics of payment by cession, EXCEPT:

a. The creditors do not become the owners of the debtor’s properties which are assigned to them.
b. The obligations are extinguished only to the extent of the proceeds of the sale of the debtor’s
properties.
c. The debtor may or may not be insolvent.
d. All the debtor’s properties are involved except those exempt from execution.

21. Which of the following is a common characteristic of dation in payment and payment by cession?
a. There should be two or more creditors.
b. It affects all the debtor’s properties.
c. The debtor must be insolvent.
d. Obligations are extinguished either in full or in part.

22. Goyong owed Boyong the following debts: P20,000 due on May 1; P20,000 due on May 5; P20,000
due on May 15 (secured by a pledge of Goyong’s ring); and P20,000 due on May 25. On May 22, Goyong
wanted to tender payment to Boyong but he had only P20,000. As of such date, none of the debts
had been paid. In this case, Goyong may apply the payment to:
a. Any of the four debts since each one is of the same amount of the payment.
b. All debts proportionately at P5,000 each.
c. Only to the debt due on May 15 since it is the most onerous debt to Goyong.
d. To any of the debts due on May 1, May 5 and May 15, since they have all become due as of
May 22.

23. Assume that in the preceding number, Goyong did not apply the payment. Neither did Boyong
who just issued to Goyong a receipt acknowledging the payment of P20,000. In this case, payment
shall be applied by operation of law to:
a. All the debts proportionately at P5,000 each.
b. The debts due on May 1, May 5 and May 15, all of which have become due as of May 22,
proportionately.
c. The debts due on May 15 since it is the most onerous to Goyong.
d. The debts due on May 1 following the “first-due, first-pay” basis.

24. Under the provisions on Obligations, dation in payment and the following are special forms of
payment, EXCEPT:
a. Application of payment.
b. Tender of payment and consignation.
c. Payment by cession.
d. Payment in escrow.

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25. It refers to the sharp sudden increase in money or credit or both without a corresponding increase
in business transactions.
a. Inflation.
b. Deflation.
c. Buyer’s market.
d. Seller’s market.

26. It refers to the money or currency which a debtor may compel a creditor to accept in payment of
his debt, whether public or private.
a. Bills and coins.
b. Legal tender.
c. Certified check.
d. Bill of exchange.

27. Which of the following statements is(are) true if the obligation is to give an indeterminate thing
whose quality and circumstances have not been stated?
I. The creditor can demand a thing of superior quality.
II. The debtor can deliver a thing of inferior quality.

a. Both are true.

b. Only I is true.
c. Only II is true.
d. Neither I nor II is true.

28. Badong owed Pachamba-Chamba Electric Company P5,000 representing the power bill of Badong
for October. Pachamba-Chamba Electric Company gave a collector’s uniform to Takusa although
Takusa was not its employee. Takusa, without authority from Pachamba-Chamba Electric
Company, wore the uniform, got the company receipt, and collected the amount owed by Badong.
Badong made the payment to Takusa believing that the latter was an employee of Pachamba-
Chamba Electric Company. The payment made by Badong to Takusa is:
a. Valid if Takusa remits the payment to Pachamba-Chamba Electric Company.
b. Valid even if Takusa does not remit the payment to Pachamba-Chamba Electric Company.
c. Not valid because Takusa is not an employee of Pachamba-Chamba Electric Company.
d. Not valid because Takusa was not authorized to receive the payment.

29. D1 owes D2 P50,000. C files a complaint for collection against D2 allegedly for a sum of money that
D2 owed him, and asks the court to issue an order to D1 not to make any payment to D2. The court
issues the order. D1, however, pays D2 in violation of the court order.
I. If the court renders judgment in favor of C, D1 can be required to pay again, this time, to C.
II. If the court renders judgment that C is not a creditor of D2, the payment made by D1 to D2, is
considered validated.

a. Both statements are true.

b. Both statements are false.
c. Only Statement I is true.
d. Only Statement II is true.

30. D borrowed P20,000 from C. The debt, which bears interest at 10% per annum, is due after one
year. On due date, D paid C P20,000 representing the principal, but by that time C had already
become insane. Later, G, the guardian of C, demanded payment from D but D presented a receipt
issued by C acknowledging the payment. Upon investigation, G discovered that P8,000 was still in
C’s possession; P9,000 was spent by C for groceries as evidenced by the receipt of Nagimasen
Supermarket; and P3,000 was admitted by C to have been lost by him in a gambling game. G may
demand payment from D in the amount of:
a. P2,000, representing the interest.
b. P5,000, representing the interest and the gambling loss.
c. P14,000, representing the interest, the gambling loss, and the cost of groceries.
d. P22,000, the total debt because payment to an incapacitated creditor is not valid.

31. In the preceding number, D, instead of making payment to C who was insane, should have availed
himself of which remedy to protect himself?

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 a. Consignation.
b. Consignment.
c. Assignment.
d. Cession.

32. Which of the following is required in order that the payment made by the debtor will be considered
valid?
a. Free disposal of the thing due.
b. Capacity to alienate the thing due.
c. Both (a) and (b).
d. Neither (a) nor (b).

33. Aside from the person in whose favor the obligation has been constituted, to whom shall payment
be made?
a. To the creditor’s heirs, if the creditor has died.
b. To the creditor’s assignees, if the credit has been assigned.
c. To any third person authorized to receive payment.
d. To all the foregoing, whichever is applicable under the circumstances.

34. It transfers to the person who assumes the credit right with all the rights thereto appertaining,
either against the debtor or against third persons, be they guarantors or possessors of mortgages.
a. Substitution.
b. Subrogation.
c. Assignment.
d. Negotiation.

35. Dodong is indebted to Lolong in the amount of P100,000. The debt is secured by a chattel mortgage
of Dodong’s car and the guaranty of Momong who signed together with Dodong a promissory
note for the debt. Momong pays Lolong P100,000 without the knowledge of Dodong.
a. Momong can collect P100,000 from Dodong. If Dodong cannot pay, Momong can foreclose the
chattel mortgage.
b. Momong cannot collect from Dodong. Neither can he foreclose the chattel mortgage because
he paid Lolong without the knowledge of Dodong.
c. Momong can collect from Dodong. If Dodong cannot pay, Momong cannot foreclose the chattel
mortgage.
d. Momong’s guaranty is not extinguished because he paid Lolong without the knowledge of
Dodong.

36. Choco obtained a loan of P100,000 from Loco. The debt which is payable in 10 equal monthly
installments is secured by a real mortgage on Choco’s lot. Choco paid the first installment of
P10,000 on due date. Kolokoy, a third person, paid Loco P100,000 without the knowledge of Choco
and believing that the amount owed by Choco was still P100,000.
a. Kolokoy can recover P100,000 from Choco. If Choco cannot pay, Kolokoy can foreclose the
mortgage.
b. Kolokoy can recover P90,000 from Choco. If Choco cannot pay, Kolokoy can foreclose the
mortgage.
c. Kolokoy cannot recover any amount from Choco. Neither can he foreclose the mortgage
because he paid Loco without the knowledge of Choco.
d. Kolokoy can recover P90,000 from Choco. If Choco cannot pay, Kolokoy cannot foreclose the
mortgage.

37. Although it is not complete, the payment shall extinguish the obligation:
I. If the obligation has been substantially performed in good faith.
II. If the creditor accepts the performance despite knowing its incompleteness or irregularity and
without expressing any protest or objection.

The statement is true with respect to:

a. I only.
b. II only.
c. Both I and II.
d. Neither I nor II.

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38. It means not only the delivery of money but also the performance of an obligation in any other
manner.
a. Extinguishment.
b. Enforcement.
c. Payment or performance.
d. Alienation of property.

39. Ally is obliged to paint the car of Sally in five days. The parties stipulated that in case Ally failed
to paint the car within the said period, Ally would give “marijuana” as penalty for every day of
delay.
a. Principal obligation – valid; Penalty – valid.
b. Principal obligation – void; Penalty – void.
c. Principal obligation – void; Penalty – valid.
d. Principal obligation – valid; Penalty – void.

40. When there is concurrence of two or more debtors and/or two or more creditors in one and the
same obligation, the obligation is presumed to be:
a. Joint on both parties.
b. Solidary on both parties.
c. Joint on the part of the debtors, and solidary on the part of the creditors.
d. Solidary on the part of the debtors, and joint on the part of the creditors.

41. Dindi borrowed P20,000 from Cindy. On due date, Dindi did not have any money so she proposed
that Cindy accept either a specific ring or a specific bracelet for delivery after one week to settle the
debt. Cindy accepted the proposal. Which of the following statements is FALSE?
a. Dindi’s new obligation is an alternative obligation.
b. Dindi’s obligation to give P20,000 is extinguished.
c. The obligation to give P20,000 is extinguished by reason of novation.
d. The obligation to give P20,000 is not extinguished until Dindi delivers either the ring or the
bracelet.

42. Pido obtained a loan of P200,000 from Dida. The parties stipulated that on due date, Pido, if he so
desires, may deliver to Dida a specific ring instead of paying P200,000. This obligation is a:
a. Simple obligation.
b. Alternative obligation.
c. Conjunctive obligation.
d. Facultative obligation.

43. The juridical necessity to give, to do or not to do refers to:

a. Social obligation.
b. Civil obligation.
c. Moral obligation.
d. Natural obligation.

44. Butete stole the carabao of Vertud. Butete was arrested, tried and convicted. He was ordered by
the court to return the carabao. Butete’s obligation to return the carabao is an obligation arising
from:
a. Quasi-contract.
b. Quasi-delict.
c. Delict.
d. Law.

45. Refer to the preceding number. Before Butete could return the carabao, it fell into a ravine without
his fault and died. Which of the following statements is INCORRECT?
a. Butete’s obligation to Vertud is extinguished because the loss is due to fortuitous event.
b. Butete must still pay for the value of the carabao.
c. Butete must pay for consequential damages even if the carabao was not lost.
d. Butete may be imposed a prison term or other penalty even if the carabao was not lost.

46. Which of the following is not a determinate thing?

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 a. My dog named “Poot-Poot”.
b. Lancer car with engine no. A23456, body no. B9876, and plate no. ADA111.
c. The wristwatch I am wearing.
d. Twenty sacks of rice.

47. The obligation to deliver arises:

a. Upon perfection, if the obligation is one without a suspensive term or suspensive condition.
b. Upon the happening of the condition, if the obligation is subject to a suspensive condition.
c. Upon the arrival of the term, if the obligation is subject to aa suspensive period.
d. All of the above.

Items 48 to 52 are based on the following information:

On August 1, 2014, D promised to give his agricultural lot to C if C passes the CPA Board Examinations.
C took the examination on September 20, 2014. The result of the examination was released on April 18,
2015 and C passed it.

48. The obligation of D to give his agricultural lot to C arose:

a. On August 1, 2014.
b. On September 20, 2014.
c. On April 18, 2015.
d. At any time after April 18, 2015.

49. C shall be entitled to the crops (fruits) that had grown on the agricultural lot starting from:
a. August 1, 2014.
b. September 20, 2014.
c. April 18, 2015.
d. At any time after April 18, 2015.

50. The right of C to demand the delivery of the agricultural lot and the crops from the time the
obligation to deliver the lot arose is known as:
a. Real right.
b. Personal right.
c. Civil right.
d. Natural right.

51. Assume that D actually delivered the agricultural lot and the crops to C on May 1, 2015. On such
date, what right was acquired by C over the agricultural lot and the crops?
a. Real right.
b. Personal right.
c. Civil right.
d. Industrial right.

52. Assume that D actually delivered the agricultural lot and the crops on May 1, 2015 to X who bought
them in good faith. Which of the following statements is INCORRECT?
a. C can go after D for damages.
b. X acquired ownership of the agricultural lot and crops.
c. C shall have a right of action for damages against X.
d. N real right is acquired by C.

53. Demand is not required in order for delay to exist in the following cases, EXCEPT:
a. Time was a controlling motive for the establishment of the contract.
b. Demand is useless.
c. The law or the obligation expressly provides that demand is not required.
d. The obligation is silent as to whether demand is required or not for the performance of the
obligation.

54. The delay on the part of the debtor in an obligation to give is known as:
a. Mora solvendi ex re.
b. Mora solvendi ex persona.
c. Mora accipiendi.

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 d. Compensation morae.

55. A term that refers not only to the harm done but also to the sum of money that may be recovered.
a. Damages.
b. Injury.
c. Tortuous act.
d. Legal wrong.

56. Which of the following combinations of conditions will render an obligation void?
a. Suspensive – potestative (creditor).
b. Suspensive – potestative (debtor).
c. Resolutory – potestative (creditor).
d. Resolutory – potestative (debtor).

57. On May 1, 2018, Koko borrowed P50,000 from Krunch. The loan is payable on or before April 30,
2019 and bears interest at 10% per annum. Which of the following statements is INCORRECT?
a. Koko may pay on April 30, 2019.
b. Koko may pay before April 30, 2019.
c. Krunch may demand payment before April 30, 2019.
d. Krunch may demand payment on April 30, 2019.

58. A period is different from a condition in that a period:

a. May refer to a past event unknown to the parties.
b. May or may not happen.
c. Merely fixes the time when the obligation will arise or cease.
d. Shall annul the obligation if it depends upon the sole will of the debtor and it is suspensive.

59. Two or more prestations are due but the complete performance of one of them is sufficient to
extinguish the debt.
a. Conjunctive obligation.
b. Alternative obligation.
c. Facultative obligation.
d. Simple obligation.

60. The following obligations are divisible, EXCEPT:

a. When the obligation has for its object the execution of certain number of days of work.
b. When the obligation has for its object the accomplishment of work by metrical units.
c. Analogous things which by their nature are susceptible of partial performance.
d. Obligation to give definite things.

61. In an obligation to give, the debtor may compel the creditor to accept a different one provided it:
a. Is more valuable than that which is due.
b. Is of the same value as that which is due.
c. Has the same function as that which is due.
d. No, the debtor cannot compel the creditor to accept a thing that is different from that which is
due.

62. All bills are legal tender up to:

a. P5,000.
b. P10,000.
c. P100,000.
d. Any amount.

63. Evaluate the following statements:

I. The creditor cannot be compelled to receive partial payments.
II. The debtor may be compelled to make partial payments.
III. The creditor may demand, and the debtor make effect, the payment of the liquidated part of
a debt without them waiting for the liquidation of the unliquidated part.

a. I and II are true.

b. II and III are true.

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 c. I and III are true.
d. All statements are true.

64. It refers to the designation of the debt to which a payment shall apply.
a. Tender of payment.
b. Consignation.
c. Application of payment.
d. Assignment.

65. Withdrawal by the debtor of the payment consigned after the creditor has accepted the
consignation or after the court has declared that the consignation has been properly made produces
the following effects, EXCEPT:
a. The obligation is revived.
b. The creditor loses preference over the thing.
c. The guarantors and sureties are not released.
d. The obligation becomes joint if it was previously solidary.

66. Legal compensation requires that each one of the obligors be bound principally and that he be at
the same time a principal creditor of the other. In addition, it is also necessary that the following
requirements be present, EXCEPT:
a. That both debts consist in a sum of money, or if the things due are consumable, they be of the
same kind, and also of the same quality if the latter has been stated.
b. That both debts have the same due date.
c. That both debts be liquidated and demandable.
d. That over neither of the debts there be any controversy commenced by third persons and
communicated in due time to the debtor.

67. D owes C P50,000. The promissory note evidencing the debt was signed by D as maker and G as
guarantor. C owes D P35,000. Both debts are due. If C goes after D and D cannot pay:
a. C can hold G liable for P50,000. G cannot claim compensation because he is not a principal
debtor.
b. C can hold G liable, but G can claim compensation up to P35,000. Hence, he is liable only for
P15,000.
c. C cannot hold G liable because he is not the principal debtor.
d. C can collect P50,000 from G, but G can collect P35,000 from C.

68. Moca was intimated by Noco into buying the latter’s laptop for P50,000 for which Moca executed
a promissory note payable after a month. On due date, when the intimidation no longer existed,
Moca called upon Noco and proposed to the latter to accept a ring instead of enforcing the note.
Noco accepted the proposal.
a. The novation is void because the old obligation is voidable.
b. The novation is voidable because the old obligation is voidable.
c. The novation is valid; whatever defect that existed in the old obligation is deemed cured.
d. The novation is valid; however, Moca has the option to annul the old obligation.

69. Ace owes Jackie P50,000 which is due on March 31. On the other hand, Jackie owes Ace P15,000
which is due on March 15. On March 18, Jackie assigned her credit right to Jade with Ace giving
his consent unconditionally. On March 31, how much may Jade collect from Ace?
a. P50,000.
b. P35,000.
c. P15,000.
d. Nothing.

70. Refer to the preceding number. If Ace gave his consent to the assignment but reserved his right to
the compensation, how much may Jade collect from Ace on March 31?
a. P50,000.
b. P35,000.
c. P15,000.
d. Nothing.

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