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- 1. Multiple Choice
The following are the definition of a deposit except
It is a real contract like commodatum and mutuum because it is perfected by the delivery of the subject matter.
When the deposit is gratuitous, it is a unilateral contract because only the depositary (depositorio) has an obligation.
When the deposit is for compensation, the juridical relation created becomes bilateral because it gives rise to obligations on the part of both the depositary and depositor.
Should there be a need for safekeeping, the deposit can never be gratuitous as it requires necessary expenses to preserve the object.
- 2. Multiple Choice
What is the principal purpose of the contract of deposit?
The safekeeping of the thing delivered
The consumption of the subject matter
The lender must wait until the expiration of the term prior to the return of the subject matter
The object may only be money and any other fungible thing
- 3. Multiple Choice
What is the distinction of deposit from mutuum as to its principal purpose?
The depositor can demand the return of the subject matter at will
The safekeeping of the thing delivered
The object may be movable and immovable property
The lender must wait until the expiration of the term prior to the return of the subject matter
- 4. Multiple Choice
Deposit is essentially and always gratuitous.
True; if there is a compensation, then it is considered as lease.
True; if there is a compensation, then it is onerous.
False; deposit may be gratuitous but not an absolute rule.
False; mutuum is essentially and always gratuitous.
- 5. Multiple Choice
The following statements, but one, are correct as to the binding effect of the deposit.
A deposit is a real contract, and is, therefore perfected only upon the delivery of the object of the contract.
Where there has been no delivery, there is merely an agreement to deposit which is binding and unenforceable upon the parties.
A contract of future deposit is consensual.
A deposit may be created by virtue of a court order or by law and not by the will of parties.
- 6. Multiple Choice
The following statements, but one, are correct with regard to the creation of a deposit:
A deposit may be created by virtue of a court order or by law and not by the will of parties.
It is essential that the depositary is not the owner of the property deposited.
A contract of future deposit is consensual.
A deposit may be constituted judicially or extrajudicially.
- 7. Multiple Choice
A deposit is
Judicial
Extrajudicial
Either of the choices
All of the choices
- 8. Multiple Choice
A contract of deposit is generally gratuitous except
Where there is contrary stipulation
Where depositary engaged in business of storing goods
Where property saved from destruction without knowledge
Where there should be a compliance with a legal obligation
- 9. Multiple Choice
Only corporeal or tangible movable or personal property may be the object of extrajudicial deposit whether voluntary or necessary.
The object of a deposit is the safekeeping of the thing.
The possibility that the thing may disappear or may be lost or stolen is not present in real property.
Judicial deposit, however, may cover movable as well as immovable property, its purpose being to protect the things of parties to a suit.
All of the statements are correct.
- 10. Multiple Choice
Generally, a deposit is voluntary. It becomes necessary when made in the following cases. Choose the incorrect statement.
In compliance with a legal obligation
On the occasion of any calamity
By travelers in hotels and inns
By virtue of a judicial order
- 11. Multiple Choice
Generally, a deposit is voluntary. It becomes necessary when made in the following cases. Choose the correct statement.
By travelers with common carriers
By virtue of a judicial order
On the occasion of a future deposit where there is an obligation to deliver the subject matter of the deposit.
By the storage of the goods where the depositary is compensated to sell them
- 12. Multiple Choice
The chief difference between a voluntary deposit and a necessary deposit is that
In the former, the depositor has no liberty to determine who the depositary would be, whereas in the latter, the deposit has the complete freedom.
In the former, the delivery is made by the will of the depositary, whereas in the latter, the delivery is made by the will of the depositor.
In the former, the depositor has complete freedom to determine who the depositary would be, whereas in the latter, this liberty of action is not found.
In the former, the depositary cannot dispute the title of the depositor to the thing deposited, whereas in the latter, there has been an estoppel.
- 13. Multiple Choice
Generally, the depositor must be the owner of the thing deposited. Choose the incorrect statement.
It may belong to a person other than the depositor.
A carrier, commission agent, lessee, etc. may deposit goods temporarily in his possession considering that the contract does not involve the transfer of ownership.
The depositary cannot dispute to the title of the depositor to the thing deposited.
If the depositor is not the owner of the thing deposited, then the contract is void.
- 14. Multiple Choice
Statement 1: Two or more persons claiming to be entitled to a thing may deposit the same with a third person who assumes the obligation to deliver to the one to whom it belongs.
Statement 2: The action to compel the depositors to settle their conflicting claims among themselves would be in the nature of an interpleader.
Both statements are true.
Both statements are false.
Only statement 1 is true.
Only statement 2 is true.
- 15. Multiple Choice
A contract of deposit may be entered into orally or in writing.
General rule, provided all the essential requisites for their validity are present.
Except for the delivery of the thing, there are no formalities required for the existence of the contract.
Both statements are correct.
Both statements are incorrect.
- 16. Multiple Choice
The following statements are true except
If the depositary is capacitated, he is subject to all the obligations of a depositary whether or not the depositor is capacitated.
The depositary must return the property to the legal representative of the incapacitated or to the depositor himself if he should acquire capacity.
Under the law, persons who are capable cannot allege the incapacity of those with whom they contract.
An incapacitated depositor is prohibited from entering into a contract of deposit. This vitiates consent, contract is voidable.
- 17. Multiple Choice
The incapacitated depositary (like a minor or an insane person) does not incur the obligations of a depositor. However, he is liable:
To return the thing deposited while still in the possession
To pay the depositor the amount by which he may have benefited with the thing or its price subject to the right of any third person who acquired the thing in good faith
Both statements are correct.
Both statements are incorrect.
- 18. Multiple Choice
The following statements, but one, pertain to the obligation to keep the thing deposited and return it:
The depositary must exercise over the thing deposited the same diligence as he would exercise over his property.
The liability of the depositary for the care and delivery of the thing is governed by the general rules on obligations.
The thing bailed must be returned to the depositor whenever he claims it, even though a specified term or time for such return may have been stipulated in the contract.
The depositary is obliged to retain the thing. Any claim by the depositor within the specified period of safekeeping shall not be allowed.
- 19. Multiple Choice
The following statements, but one, pertain to the liability of the depositary for the care and delivery of the thing governed by the general rules on obligations:
He is liable if the loss occurs through his fault or negligence, even if the thing was insured.
The loss of the thing while in his possession ordinarily raises a presumption of fault on his part.
If the deposit is gratuitous, then the requires degree of care is lesser than that on the depositary’s personal property.
The required degree of care is greater if the deposit is for compensation than when it is gratuitous.
- 20. Multiple Choice
Unless authorized by express stipulation, the depositary is not allowed to deposit the thing with a third person
True, because a deposit is founded on a consensual agreement and it can be deduced that the depositary is not allowed to use the thing for personal purpose.
True, because a deposit is founded on trust and confidence and it can be supposed that the depositor, in choosing the depositary, has taken into consideration the latter’s qualification.
False, because a deposit is essentially gratuitous. Should the depositary have the need to transfer the obligation of safekeeping, he shall be allowed to do so.
Answer is not given.
- 21. Multiple Choice
The following statements, but one, pertain to the depositary’s liability for the loss of the thing:
He transfers the deposit with a third person without authority although there is no negligence on his part and the third person.
He deposits the thing with a third person who is manifestly careless or unfit although authorized, even in the absence of negligence.
The thing is lost through the negligence of his employees whether the latter are manifestly careless or not.
The liability of the depositary should only apply when the contract of deposit is for compensation since there is a bilateral obligation.
- 22. Multiple Choice
The depositary may change the way or manner of the deposit if there are circumstances indicating that the depositor would consent to the change.
Statement 1: The depositary should first notify the depositor and wait for the latter’s decision.
Statement 2: The requirement may be dispensed with unless delay would cause danger.
Statement 1 is correct.
Statement 2 is correct.
Both statements are correct.
Both statements are incorrect.
- 23. Multiple Choice
If the thing deposited should earn interest, the depositary is under obligation
Statement 1: to collect the interest as it becomes due
Statement 2: to take such steps as may be necessary to preserve its value and the rights corresponding to it
Statement 1 only
Statement 2 only
Both of the statements
Either of the statements
- 24. Multiple Choice
A contract for the rent of safety deposit boxes is not an ordinary contract of lease of things but a special kind of deposit.
Statement 1: The relation is that of the bailor and bailee. The possession of the contents should reasonably be considered to be in the bank.
Statement 2: By nature of the contract, the bank is given absolute control of access to the property and the depositor cannot gain access thereto without the consent and active participation of the bank.
Statement 1 is correct.
Statement 2 is correct.
Both statements are correct.
Both statements are incorrect.
- 25. Multiple Choice
The following statements, but one, pertain to the obligation of the depositary not to commingle things deposited if so stipulated:
As an absolute rule, the depositary is allowed to commingle the goods if such are of the same kind and quality.
The depositary cannot commingle goods if so stipulated.
The various depositors of the mingled goods shall own the entire mass in common and each depositor shall be entitled to such portion of the entire mass as the amount deposited by him bears to the whole.
As a rule, the depositor is permitted to commingle grain or other articles of the same kind of quality.
- 26. Multiple Choice
If the articles deposited which belong to the different depositors are not of the same kind and quality, it is the duty of
The depositary to take care of the thing deposited with a diligence of a good father of a family.
The depositary to keep them separate or at least identifiable as he must return to each depositor the identical article delivered.
The depositary to mingle the goods since the articles deposited are not of the same kind and quality, there would be no difficulty to identify.
The depositor to inform the depositary that the goods should be mingled so as to identify that the articles are not the property of the depositary’s.
- 27. Multiple Choice
The following statements, but one, pertain to obligation not to make use of thing deposited unless authorized:
Deposit is for safekeeping and not for its use.
The unauthorized use by the depositary would make him liable for damages.
The depositary may make use of the thing deposited even without express permission of the depositor where such use is necessary for its preservation but in such case the use is limited for that purpose only.
The primary purpose of a contract of deposit is that of a safekeeping. If the depositary uses the thing deposited, then the contract coverts that into a commodatum.
- 28. Multiple Choice
The following statements, but one, pertain to the effect if permission to use is given:
If the thing deposited is non-consumable and the depositary has permission to use the thing, the contract loses the character of a deposit and acquires that of a commodatum despite the fact that the parties may have denominated it as a deposit, unless safekeeping is still the purpose of the contract.
If the thing deposited is money or other consumable thing, the permission to use it will result in its consumption and converts into a simple loan or mutuum.
All of the statements.
None of the statements.
- 29. Multiple Choice
Statement 1: In a deposit, the permission to use is not presumed except when such use is necessary for the preservation of the thing deposited.
Statement 2: The burden is on the depositary to prove that permission has been given.
Statement 1 is correct.
Statement 2 is correct.
Both statements are correct.
Both statements are incorrect.
- 30. Multiple Choice
The following statements, but one, pertain to the relation between bank and depositor:
Deposits of money in banks whether fixed, savings and current are really loans to a bank because the bank can use the same for its ordinary transactions and for the banking business in which it is engaged.
While the bank has the obligation to return the amount deposited it has, however, no obligation to return or deliver the same money that was deposited
The relation of the bank is that of a depositary since its purpose is the safekeeping of the money deposited by a customer who is the depositor.
The general rule is that a bank can compensate or set off the deposit in its hands for the payment of any indebtedness to it on the part of the depositor.
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