.Mr. X lost heavily in a private gambling with Mr. Y. He still owes Mr. Y P250,000 representing losses. Which is not true?

Related MCQs

• Jose is under obligation to deliver to Pedro, at the option of Jose, a car, a pick-up truck, or a van, all of which are specific. No. 1 - If the car and the pick-up truck were lost through Jose’s fault, he has no choice but to deliver the van; If the van was lost through a fortuitous event before delivery, the obligation is extinguished and Jose is not liable. No. 2 - If the pick-up truck and the car were lost through a fortuitous event, Jose has no choice but to deliver the van; if before delivery, the van was lost because of Jose’s fault, he is liable.
• Santos owes Maria P5 million. The debt is secured by a mortgaged on the house of Santos. No. 1 - If before the due date, the security is lost through no one’s fault, Maria can declare the debt due and demandable even before the original maturity date. No. 2 - If the house was burned up to 25% its value through the fault of Santos, the debt may be declared due by Maria even before the original maturity date but she cannot do so if the impairment was without the fault of Santos.
• In case a holographic will is lost, can it still be probated?
• Minerals are still owned by the state even if discovered from a private land.
• Debtor owes Creditor P20, 000. On the due date of the obligation, Debtor could not pay. Debtor instead offered his TV set worth P20,000 in payment of the obligation. Creditor agrees.
• Debtor owes Creditor P500,000. The debt is secured by a chattel mortgage on Debtor’s car. On the due date of the obligation, Creditor is paid by Third Person who has no interest in the obligation either as guarantor or surety. There is likewise no stipulation as to Third Person’s right to pay.
• Mr. D owes Mr. Y P10, 000. On the due date, Mr. X offers a check in payment of the obligation.
• Mr. Debtor owes Mr. Creditor as follows: P10, 000 due February 5; P10, 000 due March 5 and P10, 000 due April 5, all during the current year. Mr. Debtor has only P10, 000 and cannot pay all his obligations. If Mr. Debtor decides to pay P10, 000, the amount shall apply:
• Mr. Debtor owes fifteen (15) persons substantial amounts of money. His financial situation indicates that his liabilities for exceed his assets. If Mr. Debtor cedes or assigns his properties to his creditors,
• Mr. Debtor owes Mr. Creditor P100, 000. On the due date, Mr. Debtor delivers a cashier’s check for the full amount. Mr. Creditor refuses to accept the check.