MCQ: Law on Pledge

April 28, 2015
  • MCQ



Thank you for taking this test. This is a quiz on the Law on Pledge (Article 2093 to 2123 of the Civil Code of the Philippines). There are 13 questions in all.

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Lauro borrowed money from Renato. As security to the same, Lauro executed a promissiory note and pledged his shares of stock. A stipulation in their agreement provides that “if Lauro fails to pay, the shares of stock pledged shall become property of Renato”. Is the stipulation valid?
If the creditor consents to the selling of the thing pledged by the debtor or pledgor, transferring ownership to the buyer, what will happen to the thing pledged?
If the principal obligation becomes due, the thing pledged or mortgaged may be:
When the negotiable instrument is due and demandable, the pledgee can collect from the one who issued the said negotiable instrument. If there is an excess after offset the amount of the principal obligation, to whom must said excess be given?
B entrusted to A his jewelry to sell on commission. A, in turn, gave it to C for the same purpose without the knowledge of B. C, however, pledged it to XYZ pawnshop and appropriated to himself (C) the money he acquired from the transaction. In view of the foregoing, which of the following statements is correct?
What is the effect to the accessory contract of pledge or mortgage if the principal obligation is voidable and unenforceable?
Which of the following cannot be pledged?
Which is not a formality required prior to the exercise of the creditor of his right to sell if the credit is not satisfied?
Which among the following is a remedy when destruction or impairment is feared, without the fault of the pledgee?
Abe acquired a loan from Gani. The former issued a promissory note for the sum borrowed and a bill of sale for his car as security for the loan. Gani never took possession of the car nor did he demand possession of the same. Is the pledge valid?
When will the debtor or pledgor demand the thing pledged to be deposited to a third person?
When can a pledgor-debtor demand the return of the thing pledged to be replaced by another thing of the same value?
Based on the concept of pactum commissorium, the following are prohibited by law, except:

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Top 5 for this quiz (Law on Pledge Quiz)

1.Capt. Georg Von Trapp100%
2.Maria von Trapp100%
3.Mr. Darcy100%
4.Capt. Tom Chandler100%




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