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.

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.
• A & B lived together as husband and wife without the benefit of marriage. For a few months before his death, A was writing his autobiography and stated that he loved B so much and because of that, they decided to live together as husband and wife, but planned to marry. At the time he was writing his autobiography, B was pregnant and he stated in his autobiography that he was the father of the child inside the womb of B. He died without finishing it and failed to sign the same. Two (2) months thereafter, the child C, was born, hence, B sought to register the child under the name of A but the Local Civil Registrar refused, hence, she filed a suit for mandamus to compel the registrar to register the child under A’s name. She testified as narrated above; D, the father of A testified that during the lifetime of A he lived with B and she was pregnant at that time. E the brother of A likewise testified along the same line. Is the action of B correct?
• 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. Oliveros, by virtue of a written agreement agreed to deliver to Mr. Santos a car on a specified date provided the latter pays the former P1 million.
• A, was a consistent scholar at a prestigious university enjoying free tuition fees, books, clothing and housing allowances and was given a cash allowance of P25,000.00 per month. Due to some family problems, he decided to go back to General Santos City and enrolled at Holy trinity College, but before he could obtain his credentials, he was required to refund the amount of P300,000.00 equivalent to the privileges he enjoyed as that was the condition in the scholarship grant. Can he recover the amount?
• Mr. S sold a banana plantation to Mr. B for P3 million although its market value is P20 million. It was agreed that Mr. S shall remain in possession as lessee of the land and shall be responsible for the real estate taxes.
• No. 1 – The mortgagor in a real estate mortgage may sell the property mortgaged despite a prohibition to that EFFECT. No. 2 – If there is a balance after the foreclosure sale in a chattel mortgage arising he deficiency cannot be recovered.
• 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:
• When A’s obligation to B became due and demandable, A offered to pay, but refused to accept payment. State the remedies of A.
• A entered into a contract whereby he obligated himself to pay B on or before September in the form of Australian currency. When the obligation became due and demandable, A delivered to B Australian currency. Is A correct?