2.) Saldo orally offered to sella certain diamond ring toBaldo for P50,000.00. Baldoaccepted the offer and toprove that he was in earnest,he gave Saldo P1,000.00. Theparties agreed that thedelivery of the ring and thepayment of the price wouldbe made 30 days later. Howmuch can Saldo collect fromBaldo on the due date?

Oral contract is the type of agreement where two parties are agreed on the terms through verbal…

Answered: 2.) Saldo orally offered to sell a…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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JP received an amount ofP100,000.00 from RT, payable on orbefore November 15, 2021. It isstipulated in their contract that incase no payment is received onNovember 15, 2021, JP will act asthe courier of plants in the liveselling business of RT until his loanis paid. However, despite demandfrom RT when the obilgationbecomes due, JP refused & stillrefuses to act as courier in theplants live sellinsiness of RT.
Howard received $12 000 of the $39 000 price for his rare, impeccably maintained antique 1976 Jaguar XL from Wyn Wyn wil be able to add the Jaguar to her elassie car collection upon pyment ef the balance, due 30 days from the signing the contract. Prior to that date, Philip paid Howard $45 000 outright in exchange for the Jaguar. What amount of damages could you be reasonably certain of a court awarding to Wyn? Select one: © $6000 $12 000 $18 000 ⚫ $45 000 •
A man purchased a house for P425,000. In the first month that he ownedthehouse, he spent P75,000 on repairs and remodelling. Immediately after the housewas remodeled, he was offered P545,000 to sell the house. After some consideration, he decided to keep the house and have it rented for P4,500 per month startingtwomonths after the purchase . He collected rent for 15 months and then sold the housefor P600,000. If the interest rate was 1.5% per month, how much extra money didhemake or lose by not selling the house immediately after it was remodeled?
which type of deed provides a gurantee by the grantor that the grantor did not place any clouds of title or encumbrance on teh property? 1. quitclaim 2. bargain and sale 3. limitted warranty 4. General warranty
Marge sold her car to Rupert, her very good friend on credit for $100,000. He paid down $30,000, but after a few months, and having not seeing Rupert, Marge decided to take back the car. Lucky for her, she did not give Rupert the papers for the car. She saw Henry with the car, who told her that Rupert sold it to him and promised to give him the papers soon; i. Can Rupert keep the car? why or why not. ii. Can Marge get back the car? why or why not. iii. Would the situation be different if Marge had given Rupert the papers for the car? iv. What type of contract did Rupert and Henry enter into?
4.Bryson issues a $5,000 negotiable check "payable to the order of Yolanda or cash." Yolanda places her signature on the back of the check. Yolanda then negotiates the check to Casey. Given these facts, which of the following is generally correct? а. The check was issued as a bearer instrument and Yolanda could not have converted it into an order instrument. b. Yolanda's indorsement on the instrument is not required in order for Casey to qualify or assert that he is a holder in due course. С. Yolanda's indorsement on the instrument is generally referred to as a special indorsement. d. Yolanda's indorsement on the instrument is required in order for Casey to qualify or assert that he is a holder in due course.
What is the effect of fraud , frogery and absence of consideration on a. Negotiable instrument ?
Facts: You offered to sell your automobile to Wil for P100,000.00. After inspecting the automobile, Wil offered to buy it for P80,000.00. This offer was accepted by you. The next day, you offered to deliver the automobile, but Wil being short of funds, secured postponement of the delivery, promising to pay the price “upon arrival of the steamer”. The steamer however never arrived because it was wrecked by a typhoon and sank somewhere off the Coast of Samar. Question: Is there a perfected contract in this case? Why or why not?
Sarah had a deposit in a savings account with Filipino Universal Bank in the amount of five million pesos (P5,000,000.00). To buy a new car, she obtained a loan from the same bank in the amount of P1,200,000.00, payable in twelve monthly installments. Sarah issued in favor of the bank post-dated checks, each in the amount of P100,000.00, to cover the twelve monthly installment payments. On the third, fourth and fifth months, the corresponding checks bounced.
Kray Holdings, an Alberta-based bus iness, madean o ffer to purchase a luxury rental property inthe city of Van couver, which it planned tocontinue to use as a rental property, andprovid ed a $300 000 deposit. The seller, Chan,signed a property disclosure statementindicating she was unaware of material or latentdefect with respect to the property. Before theclosing date, Kray Holdings discovered thatChan's husband was a gang member and hadbeen munlered two years earlier on thesidewalk immediately outside the gate of theproperty. The murder remained unsolved. CanKray refuse to complete the sale and recover itsdamage deposit?
Brent Braxton, Carlyle Christian and Deborah Drummond together provided threeseparate guarantees in writing to the National Commercial Bank (NCB) of (YourJurisdiction) Limited, regarding the promissory notes issued by Anthony Limited toNCB. The guarantees were made by Deed for US$200,000 each and clearly stated thatif Anthony Limited defaulted on the repayment of the US$200,000 the money wouldbe repaid by each of the guarantors. The NCB has written to BB, CC and DD requestingthe repayment of the borrowed sums. However, BB, CC and DD are contending thatthey are secondarily liable for repayment of the borrowed sums.You have been asked to prepare legal advice for the Board of Directors on this matter.What is the nature of the advice you will give to NCB? Respond in 500 words
Gerry a plumber is hired under a written contract to refurbish Bryan's master bathroom and Bryan's first floor half bath for $45,000. Bryan gave Gerry a $5,000 check to start. Upon completion of the project Gerry gave Bryan his final invoice. Bryan refused to pay. What can Gerry do to protect his interest and receive his pay? Would your answer change if the contract was to refurbish all the bathrooms at Bryan's grocery store? If yes what changes would you make?

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