S (debtor) is indebted to T (creditor) in the amount of PhP50,000.00. S proposed to T that Y will be the one to pay the debt, making him (Y) as the new debtor. T agreed to the proposal. It turned out, however, that Y is insolvent so T was not able to collect the amount due from Y. Question: Can T enforce the obligation to S, given the insolvency of Y? Explain
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- 1. Define compensation as a mode of extinguishing an obligation, and distinguish it from payment. 2. Ayen, Tristan and joey are solidary debtors under a loan obligation of P900,000.00 which has fallen due. However, Adolf, the creditor, condoned Ayen’s entire share in the debt. Since Tristan has become insolvent, Adolf makes a demand on Joey to pay the debt. 4.a) How much, if any, may Joey be compelled to pay? 4.b) To what extent, if at all, can Ayen be compelled by Joey to contribute to such payment?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?
- Ayen, Tristan and joey are solidary debtors under a loan obligation of P900,000.00 which has fallen due. However, Adolf, the creditor, condoned Ayen’s entire share in the debt. Since Tristan has become insolvent, Adolf makes a demand on Joey to pay the debt. 4.a) How much, if any, may Joey be compelled to pay? 4.b) To what extent, if at all, can Ayen be compelled by Joey to contribute to such payment?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.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 LAWS
- -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.Stafford Surety Co. agreed to act as the conditional guarantor of collection on a debt owed by Preston Decker to Cole. Stafford was paid a premium by Preston to serve as surety. Preston defaults on the obligation. What are Cole’s rights against Stafford Surety Co.?(a) As a general rule, does the death of either the creditor or the debtor extinguish obligations that are transmissible to the heirs? (b) Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation, or by provision of law? (c) Will the death of the principal debtor convert, decrease or nullify the substantive right of the solidary creditor? (10%)
- 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.A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts, which of the following will be TRUE? a. Because it is voluntary, it will not be an adverse item on the buyer's credit. b. The lender will take the title subject to any junior liens. c. The lender will usually retain his rights under mortgage insurance or VA guarantee. d. The loan will still be assumable.1. The imputed interest rules apply to which of the following type of loan? a.Coercion-related loans b.Loans from one employee to another c.Shareholder-corporation loans made from a shareholder to a corporation d.Gift loans made out of love or affection e.Loans made between two objective parties at the market rate of interest 2. In December 2022, Bellamy collected the December 2022 and January 2023 rent from a tenant. Bellamy is a cash basis taxpayer. The amount collected in December 2022 for the 2023 rent should be included in the 2023 gross income. True False