D is indebted to C for P10,000. For the purpose of defrauding C, D sold his only parcel of land to X valued P10,000. X has no knowledge of the intention of D. a. The contract D and X is binding. b. The contract is voidable because S is in bad faith. c. The right of C is to rescind the contract because the transaction is fraudulent. d. The contract between D and X is rescissible.

D is indebted to C for P10,000. For the purpose of defrauding C, D sold his only parcel of land to X valued P10,000. X has no knowledge of the intention of D. a. The contract D and X is binding. b. The contract is voidable because S is in bad faith. c. The right of C is to rescind the contract because the transaction is fraudulent. d. The contract between D and X is rescissible.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 35P

See similar textbooks

Similar questions

S sold his lot to B. The lot is the subject of a case filed by X against S. S did not disclose this fact to B. Is S liable to B for fraud? A. Yes, because S has the obligation to reveal the fact to B even if the latter did not ask. B. Yes, because the sale involves transfer of real rights to the property. C. No, because S did not say and do anything to convince B to buy the lot. D. No, because B is bound by the rule of "caveat emptor" or "buyer beware".
-G, guardian of M, sold the latter’s parcel of land worth P100,000 for only P90,000. Is the contract rescissible? Explain. -X orally sold his lot to Y for P500,000 and the latter gave an earnest money in the amount of P50,000 which the former acknowledged in a receipt. Later on, X refused to comply with the contract. Can Y enforce the contract against X? Explain.
Amy is a creditor of Bia. In order to escape the liability to Amy, Bia sells all his property to Cathy. May Amy ask for rescission of the contract of sale between Bia and Cathy? * Yes even if the right of levy and execution and accion subrogatoria are still available. Yes because creditors are protected in cases of contracts intended to defraud them. No because Amy is not a party to the contract. No because Amy has no right of rescission.
Dennis owes Cart P1M. Xanabelle, without the knowledge or against the will of Dennis paid Cart P2M. Can Xanabelle get reimbursement from Dennis? P2M by way of reimbursement from Dennis to prevent unjust enrichment on the part of Dennis at the expense of Xanabelle. P1M only for that is the extent of benefit of Dennis. No reimbursement because the payment was not proper being without the knowledge or against the will of Dennis. P1M plus interest from the time of payment until reimbursement.
If BrainTrain and Natasha had executed a written contract which contained a liquidated damages clause for $200 in the event that BrainTrain breached, and assuming BrainTrain admits to a breach, would that clause be upheld in court? Select Correct Answer a) Yes, it is reasonable and fair. b) No, in this case, actual damages can be easily determined. c) No, the amount is too low for the type of harm she suffered.
86. T surreptitiously stole the specific necklace of S. Afterwards, T conducted a public auction then sold and delivered the said necklace to B at a price of P10,000. B acquired the said necklace in such public auction. Which of the following statements is correct? Group of answer choices a. S can legally recover the necklace from B even without reimbursing B. b. S may legally recover the necklace from B but he must reimburse B of the amount of P10,000. c. S can never legally recover the necklace from B because the latter is a purchaser in good faith and for value. d. S cannot legally recover the necklace from B even if he reimburses B of the amount of P10,000.
Willy signs a lease to open a law office. The state legislature outlaws the private practice of law, thus rendering the lease worthless. When Willy fails to pay the rent, the landlord files a suit against Willy. Willy's best defense is that the purpose of the lease has been frustrated. an accord and satisfaction has occurred. a novation has occurred. the lease violated the Statue of Frauds.
Rochelle fraudulently induces Sybil to sign a note. Rochelle sells the note to Terry, who does not know of the fraud and takes the note for value and in good faith, and thus becomes an HDC. Terry sells the note to Ulrich, who sells the note back to Rochelle. Does Rochelle acquire Terry’s HDC rights in the note?
Lucia is paying Martha to sell properties that Lucia owns. Can Martha sell one of Lucia's properties to herself? No, because an agent may not self-deal O Yes, if she sells it for fair market value Yes, if Lucia did not prohibit this type of transaction No, because that would make Martha a subagent of Lucia
A firm in which A, B and C were partners, placed an order with D for supplying certain goods on credit. Before D could supply the goods C died. D supplied the goods after C’s death, being totally ignorant about the fact. A and B subsequently became insolvent. Can D make C’s estate liable for his debt.
Sining stole a watch of Benita, then sold it to Goreng for the amount of 5,000. Goreng is in good faith. Can Sining recover the watch from Goreng?a. No, Goreng is good faithb. Yes, with reimbursement of 5,000 to Gorengc. Yes, without reimbursement of 5,000d. No, Sining need to file a court proceeding
Julie and Suresh conclude an agreement in terms of which they agree that Julie will pay Suresh the amount of R50 000 to murder her husband, Alex. This contract is not valid and enforceable. Explain why not.