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BUSINESS LAW 1 – OBLIGATIONS AND CONTRACTS SEMI-FINAL EXAMINATIONS 1. Enumerate the modes of extinguishment of obligations and discuss each. 2. Distinguish Joint Obligations from Solidary Obligations. 3. What is a Tender of payment and how does it differ from Application of payment? 4. Luis owed Edu Php 1 million due on Feb. 28, 2019. Luis, however, failed to secure the amount on the said date. What will be your advice to Luis in order for him to extinguish his obligation to Edu? a. Differentiate Dacion En Pago from Cession. b. Provided that Luis was able to secure the amount before the debt is due, and should Edu refuse to accept payment from Luis, what is the remedy of Luis in order for his obligation to be extinguished? 5. Differentiate Compensation from Confusion. 6. How can there be novation? 7. In novation, obligations may be modified by substitution or by subrogation. What is the difference between the two?

BUSINESS LAW 1 – OBLIGATIONS AND CONTRACTS SEMI-FINAL EXAMINATIONS 1. Enumerate the modes of extinguishment of obligations and discuss each. 2. Distinguish Joint Obligations from Solidary Obligations. 3. What is a Tender of payment and how does it differ from Application of payment? 4. Luis owed Edu Php 1 million due on Feb. 28, 2019. Luis, however, failed to secure the amount on the said date. What will be your advice to Luis in order for him to extinguish his obligation to Edu? a. Differentiate Dacion En Pago from Cession. b. Provided that Luis was able to secure the amount before the debt is due, and should Edu refuse to accept payment from Luis, what is the remedy of Luis in order for his obligation to be extinguished? 5. Differentiate Compensation from Confusion. 6. How can there be novation? 7. In novation, obligations may be modified by substitution or by subrogation. What is the difference between the two?