A owes B. B assigns the credit to C. B is in good faith. It was agreed that B would be responsible for A’s solvency. The parties did not agree on the duration of the liability. If the debt was due Jul. 6, 2019 and the assignment was made Aug. 8, 2019, until when is the guaranty? (See Art. 1629)
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A owes B. B assigns the credit to C. B is in good faith. It was agreed that B would
be responsible for A’s solvency. The parties did not agree on the duration of the
liability. If the debt was due Jul. 6, 2019 and the assignment was made Aug. 8,
2019, until when is the guaranty? (See Art. 1629)
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- Define the following: Condition Civil loss Reciprocal obligations Pure obligation Potestative condition Problems Explain or state briefly the rule or reason for your answer. 1. D (debtor) borrowed P20,000 from C (creditor) payable on or before August 30. Before the arrival of the due date, C agreed to the promise of B to pay C if B wants. Can C insist that B pay not later than August 30? 2. Suppose in the same problem, D obliges himself to pay C P10,000 after C has paid his obligation to T. Is the obligation valid? 3. S (seller) agreed to sell to B (buyer) a specific car for P200,000, delivery of the car and the payment of the price to be made on June 15. Suppose S delivered the car on June 15 but B failed to pay the price, what are the remedies of S? 4. S sold a parcel of land to B for P240,000 payable in installments of P20,000 a year. The land was delivered to B who obtained ownership thereof. After B had paid P200,000, he could no longer continuing paying in view of…A owes B. B assigns the credit to C. B is in good faith. It was greed that B would be responsible for A’s solvency. The parties did not agree on the duration of the liability. If the debt was due July 6, 2019 and the assignment was made August 8, 2019. Until when is the guaranty?D is indebted to C for P10,000 due on March 31, 2022. To secure the fulfillment thereof, D endorsed a negotiable promissory note executed by P for P15,000 due on January 31, 2022. In this case,a. The pledge is void since the promissory note would be due earlier than the obligation it secures.b. D will collect the P15,000 on January 31, 2022 and pay C with the proceeds of the collectionc. C may collect the proceeds of the note and apply the P15,000 for the payment of D’s obligationd. C may collect the proceeds of the note and applyP10,000 for the payment of D’s obligation and return the excess P5,000 to D.
- As regards antichresis, which of the following is not correct? * a. The amount of the principal and of the interest shall be specified in writing, otherwise the contract of anti chresis shall be void b. The debtor, unless there is stipulation to the contrary is obliged to pay the taxes and charges upon the estate c. The debtor cannot reacquire the enjoyment of the immovable without first having totally paid what he owes the creditor d. The creditor is bound to bear the expenses necessary for the preservation and repair of the immovableM issues a negotiable BOE payable to P or order for P10,000. P endorsed the instrument to A, then A to B, then B to C, then C to D. D presents the instrument to the drawee, but the drawee dishonored the instrument. Assuming that D approached C and invoked his warranty as an indorser, from whom can C seek recovery of amount paid to D? a. B, then A, then P, then M. b. M, P, A, B without any particular order c. M d. BAnswer this please. Accounting question. If the collection of the note receivable is not reasonably assured, what is the gross profit to be recognized by the entity for the year ended December 31, 2020 in relation to the initial franchise fee?A. 60,028 C. 56,009B. 54,236 D. 45,037
- When an entity breaches a covenant under a long-term loan agreement on or before the end of the reporting periodwith the effect that the liability becomes payable on demand, the liability is classified as noncurrent whenI. The lender has agreed after the end if the reporting period and before the financial statements areauthorized for issue not to demand payment as a consequence of the breach.II. The lender has agreed on or before the end of the reporting period to provide a grace period ending atleast twelve months after that date. a. Both I and IIb. Neither I and IIc. I onlyd. II onlyIn which of the following instances would a liability that would otherwise be presented as current is presented as noncurrent a. The liability is payable on demand but the lender promises the entity after the reporting period that the lender will not demand payment in the next 12 months b. The entity enters into a refinancing agreement after the reporting period but before the financial statements are authorized for issue c. The entity enters into a refinancing agreemerit and the agreement is completed by the balance sheet date d. The liability is payable on demand but the entity estimates that it is probable that the lender will not demand paymentS1: Pactum commissorium is a stipulation whereby the thing used as security shall automatically become the property of the creditor in the event of non-payment of the principal obligation in due time. S2: Pactum commissorium may be a valid stipulation by agreement of parties. a. Only S1 is true. b. Only S2 is true. c. Both are true. d. Both are false.
- M issues a negotiable BOE payable to P or order for P10,000. P endorsed the instrument to A, then A to B, then B to C, then C to D. D presents the instrument to the drawee, but the drawee dishonored the instrument. From whom can D seek immediate recourse? a. M-C-B-A b. any of M,P,A,B,C without any particular order c. M and P first, then C, then B, then A d. C-B-A-P-MProvide answer please! If the collection of the note receivable is reasonably assured, what is the net income to be recognized by the entity for the year ended December 31, 2020 in relation to the initial franchise fee?A. 98,850 C. 70,028B. 94,850 D. 92,037How about these questions: 1. How much is the Interest Revenue to be recognized in 2021? 2. How much is the Net Income (Loss) in 2021? 3. Assuming the collectability of the note is uncertain, how much is the Franchise Revenue to be recognized in 2021?