No. 1 – The laws governing deposits govern the relationship between a bank depositor and a bank. No. 2 – A creditor may be compelled to receive a certified check in payment of a loan.

Related MCQs

• Mr. Debtor owes Mr. Creditor P100, 000. On the due date, Mr. Debtor delivers a cashier’s check for the full amount. Mr. Creditor refuses to accept the check.
• Debtor owes Creditor P20, 000. On the due date of the obligation, Debtor could not pay. Debtor instead offered his TV set worth P20,000 in payment of the obligation. Creditor agrees.
• Debtor owes Creditor P500,000. The debt is secured by a chattel mortgage on Debtor’s car. On the due date of the obligation, Creditor is paid by Third Person who has no interest in the obligation either as guarantor or surety. There is likewise no stipulation as to Third Person’s right to pay.
• No. 1 - If a person obliged to do something fails to do it, the only remedy of the obligee is to demand for the payment of damages. No. 2 - If a person obliged to do something fails to do it, he may be compelled by court action to fulfill his obligation.
• A borrowed money from B. As security for the payment of the loan, he executed a chattel mortgage on the building erected on his land and the machinery stored therein. For failure to pay the loan, he was sued and a judgment was rendered against him, where the building and the machinery were levied upon. Is the chattel mortgage binding upon C, the plaintiff?
• Seller wrote a letter to Buyer offering to sell a piece of land for P500,000. Seller gave Buyer two months to decide and pay the purchase price. Before the lapse of two months, Seller wrote Buyer that the price is now P700,000. Buyer insisted on an acceptance for P500,000. He wants to compel Seller to execute a deed of sale for the original offer of P500,000. May the Seller be compelled to honor the P500,000 offer?
• A and B are married. They are governed by the conjugal partnership of gains. A, the Executive Vice-President of ABC Corp. signed as a surety in a loan secured by the company from Metrobank for the rehabilitation of the company. As business was good after rehabilitation, A was given a house and lot, a brand new caw and raise in his salary. The company was sued due to its failure to pay the loan. Are the properties of A and B liable?
• It is that currency which the debtor can compel the creditor to accept in payment of all debts, public or private.
• Mr. Debtor is domiciled in Quezon City while Mr. Creditor is domiciled in Manila. Payment is to be made in
• Glenda, a Filipino citizen and John Riel, an Australian citizen, got married in the consular office of the Philippines in Australia. According to the laws of Australia, a marriage solemnized by a consular official is valid, provided that such marriage is celebrated in accordance with the laws of such consular official. What is the status of the marriage of Glenda and John Riel?