Is there a contract between and B? Explain your answer. Q2. When B subsequently demanded payment from A, the latter refused to pay. Can B bring an action against A for non-fulfillment of his contractual obligation?
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- -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.X is indebted to Y in the amount of P25,000.00. In order to escape payment of his debt to Y he sold his only passenger jeepney to his brother-in-law Z. State whether the contract is absolute or relative simulation. Why? Subject : ME LAWSP is in dire need of cash. He then approaches M and requests that M issue a negotiable bill of exhange in P's favor at P50,000 so that P can sell the instrument to A. So M issued a negotiable BOE to P, then P endorsed it to A. Upon due date of the said BOE, who are the primarily liable party/parties to the instrument who should pay A? a. M and P b. M or P c. M d. P
- Mr. Tom promises to find a job for Mr. Martin in a public company. Mr. Martin promises to pay 1000 OMR in return of this favour. Question a. Is this a valid contract? b. Is this agreement enforceable by law? Explain why or why not?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…3. Jose obtained a loan from Pedro amounting to PhP1 Million. As a security, Jose mortgaged his land (with a fair market value of PhP700,000.00) to Pedro. Subsequently, Jose sold the land to Mario. What is the effect of the sale of the land to the obligation of Jose to Pedro? Assuming Jose could not pay his obligation, what are the remedies of Pedro? Explain your answer.
- 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.3. Goldenrod offered to buy a mortgaged property owned by Barreto Realty to which it paid an earnest money amounting to P1 million. It was agreed upon that Goldenrod would pay the outstanding obligations of Barreto Realty with UCPB. However, Goldenrod did not pay UCPB because of the banks denial of its request for the extension to pay the obligation. Thereafter, Goldenrod, through its brocker, informed Barreto Realty that it could not go through with the purchase of the property and also demanded the refund of the earnest money it paid. In the absence of a specific stipulation, may the seller of real estate unilaterally rescind the contract and as a consequence keep the earnest money to answer for damages in the event the sale fails due to the fault of the prospective buyer? Who are the persons incapacitated to give consent? Support your answer.M issues a negotiable promissory note payable to the order of P for P10,000 in exchange for his legal services worth P9,000. Later, P endorses the instrument to A for P10,000. Based solely on these facts, how much should M pay A?
- look at the following situation: client D sold a June Oil future contract and plans to deliver. 1- what is the role played by the clearinghouse in the above situation? 2- is the existence of a clearinghouse important?D borrowed a sum of money from C with a certain rate of interest. C now wants to increase the rate of interest without the consent of D. What principles in contracts prohibit C from doing so? Explain.Fill in the blanks to complete sentence. 8. ______bond ensures the repayment of the advance by the exporter in the event of the non-performance of his contractual obligations.