Take the Credit Transactions MCQs – Set 2 Quiz.
Credit Transactions - Set 2 [20 items]
Credit Transactions MCQs
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Question 1 |
[CT0216] When the thing deposited is closed and sealed, the depositary is justified to open such seal
A | When there is necessity to open such seal. |
B | When the deposit involves consumable goods. |
C | When the Contract of Deposit is essentially gratuitous. |
D | When the seal of the deposited goods is broken. |
Question 2 |
[CT0209] Receipts in which it is stated that the goods received will be delivered to the bearer or to the order of ay person named in such receipt.
A | Negotiable Receipt |
B | Non-Negotiable Receipt |
C | Non-Delivery |
D | Creditor’s Receipt |
Question 3 |
[CT0210] A loan given is a simple loan or mutuum except
A | If the thing loaned can be demanded before the expiration of the term in case of urgent need. |
B | If the borrower need only to pay the same amount of the same kind or quality. |
C | If the ownership is transferred to the borrower. |
D | If the borrower suffers in case of loss. |
Question 4 |
[CT0201] The bailee is liable for the loss of the thing even if it should be through fortuitous event, except
A | If he lends or leases the thing to a third person, who is not a member of his household. |
B | If he keeps the thing longer than the period stipulated. |
C | If he devotes the thing to a purpose not different from that for which it has been loaned. |
D | If being able to save either the thing borrowed or his own thing, he chose to save the latter. |
Question 5 |
[CT0217] The Hotel-Keeper is not liable for compensation in case of loss except
A | The loss arises from the character of the things brought into the hotel. |
B | The loss or injury is caused by force majeure. |
C | The loss is caused by the acts of robber done without the use of arms and irresistible force. |
D | The loss is due to the acts of the guest, his family, servants or visitors. |
Question 6 |
[CT0215] If the thing deposited is money, the permission to use it will result in its consumption and converts the contract into a mutuum. But if the safekeeping is still the principal purpose of the contract then the same is a(n)
A | Irregular Deposit |
B | Simple Loan |
C | Precarium |
D | Ordinary Commodatum |
Question 7 |
[CT0208] Receipts in which it is stated that the goods received will be delivered to the depositor or to any other specified person.
A | Warehouseman’s Lien |
B | Negotiable Receipt |
C | Non-Negotiable Receipt |
D | Delivery |
Question 8 |
[CT0220] A deposit made on occasion of a calamity or in compliance with a legal obligation
A | Contract of Carriage |
B | Contract of Deposit |
C | Necessary Deposit |
D | Voluntary Deposit |
Question 9 |
[CT0203] It refers to 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
A | Mutuum |
B | Commodatum |
C | Contract of Deposit |
D | Precarium |
Question 10 |
[CT0205] The Hotel-keeper is not liable in case of loss of the thing deposited when
A | The loss or injury is caused by Force majeure. |
B | The loss arises from the character of the things deposited. |
C | The loss is caused by his servants or employees. |
D | The loss is due to the acts of the guest or his family. |
Question 11 |
[CT0213]Deposit is generally voluntary. It becomes necessary when made in the following cases except
A | When the deposit is made by travelers with common carries. |
B | When the delivery is made by the will of the depositor. |
C | When the deposit is made in compliance with a legal obligation. |
D | When it is made by travelers in hotels and inns. |
Question 12 |
[CT0219]A deposit is a real contract and therefore
A | involves real property |
B | involves consumable goods |
C | perfected by delivery |
D | perfected by consent |
Question 13 |
[CT0211] A loan given is a commodatum except
A | If the loan is gratuitous and may be onerous. |
B | If the thing loaned involves something not consumable. |
C | If the borrower has the obligation to return the same thing loaned. |
D | If the ownership of the thing loaned is retained by the lender. |
Question 14 |
[CT0212] Contract of Deposit is essentially a gratuitous contract but it can be for compensation except
A | Where property saved from destruction without the knowledge of the owner. |
B | Where the depositary is engaged in the business of storing goods. |
C | Where there is contrary stipulation established by the parties. |
D | Where it is in compliance with a legal obligation. |
Question 15 |
[CT0206] Refers to the person lawfully engaged in the business of storing goods for profit
A | Bailee |
B | Depositor |
C | Depositary |
D | Warehouseman |
Question 16 |
[CT0202] It refers to a kind of Commodatum where the bailor may demand the thing at will
A | Ordinary Commodatum |
B | Contract of Loan |
C | Simple Loan |
D | Precarium |
Question 17 |
[CT0214] The action to compel the depositors to settle their conflicting claims among themselves would be in a nature of an
A | Counterclaim |
B | Replevin |
C | Set-off |
D | Interpleader |
Question 18 |
[CT0218] The Depositary must be reimbursed for loss suffered by him because of the dangerous character of the thing deposited except
A | At the time of the deposit, the depositor was not aware of it. |
B | When the depositor does not notify the depositary of such dangerous character of the thing deposited. |
C | The depositor was not expected to know the dangerous character of the thing deposited. |
D | When the depositary was aware of it without advice coming from the depositor. |
Question 19 |
[CT0207] Warehouse receipts must embody within its written and printed terms
A | The description of the warehouse receipt. |
B | The date of the issue of the receipt. |
C | The location of the warehouse where the goods are stored. |
D | The rate of storage fees. |
Question 20 |
[CT0204] It refers to the deposit wherein the delivery is made by the will of the depositor
A | Contract of Deposit |
B | Voluntary Deposit |
C | Ordinary Commodatum |
D | Precarium |
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