Commercial Law, 2011 Bar — Question 32

MULTIPLE CHOICE

X constituted a chattel mortgage on a car (valued at Php1 Million pesos) to secure a P500,000.00 loan. For the mortgage to be valid, X should have A) the right to mortgage the car to the extent of half its value. B) ownership of the car. C) unqualied free disposal of his car. D) registered the car in his name.

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