Mr. D borrowed P500, 000 from Mr. C with Mr. G as guarantor. When the debt fell due, Mr. D did not pay despite demand.

Related MCQs

• Seller wrote a letter to Buyer offering to sell a piece of land for P500,000. Seller gave Buyer two months to decide and pay the purchase price. Before the lapse of two months, Seller wrote Buyer that the price is now P700,000. Buyer insisted on an acceptance for P500,000. He wants to compel Seller to execute a deed of sale for the original offer of P500,000. May the Seller be compelled to honor the P500,000 offer?
• 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.
• Andrea wrote Bernardo a letter offering to sell a piece of land. Andrea gave Bernardo two months within which to pay the price of P500,000. After 50 days Andrea informed Bernardo that she is increasing the price of the land to P700, 000. Can Bernardo compel Andrea to accept the P500,000 first offered and execute the deed of sale?
• 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:
• A lent money to B in 1950 payable in 1951. Despite demand, B failed to pay. In 2011, his daughter who recently became a lawyer sent a demand for payment to B who sent a letter acknowledging the debt and asked for one (1) year to pay but failed to pay within the extended period. A filed a complaint for sum of money. How do you think the court will decide?
• Mr. Buyer bought a car from Mr. Seller, a dealer of cars under the following terms: (i) down payment of P500,000; (ii) entire balance is to be paid on December 24, 2004; (iii) a chattel mortgage is to be executed over the car bought or sold in favor of Mr. Seller. If on the due date for the balance, no payment is paid despite demand.
• 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.
• Mr. X executed a chattel mortgage over his house and lot to Mr. Y. When the obligation became due, Mr. X did not pay despite demand.
• X is not a partner of A, B, and C. Without the consent or knowledge of C but with the implied consent of A and B, X made T believe that he is a partner of A, B, and C. Who shall be liable for the payment of a debt of P500, 000 in favor of T who extended credit on the basis of the misrepresentation?
• A is indebted to ABC Corporation in the amount of P100M. Despite efforts to collect from A, the latter failed to pay due to business reverses as he has no more assets. In order to maintain a more accurate inventory of the worth of its current assets, ABC Corp. was forced to write-off A’s obligation. One (1) year later, A won the lotto draw in the US in the amount of $100M. Learning of the good luck of A, it demanded for payment, but A refused to pay contending that his obligation was extinguished when it was written-off. Is A correct?