If an injured party in a contract has demanded rescission, he later may ask for performance. However, of he seeks performance, he can no longer seek for rescission of the contract.

Related MCQs

• Nik sold to Paul a real property payable in monthly installments within a 5 year period, Paul was only able to pay 14 monthly installments, after the 60 day grace period and after 30 days of Paul’s receipt of the notice and letter calling for the rescission of the contract Nik rescinded the same. Paul contended that there was an automatic rescission done by Nik, hence, the same was void. Give the best answer.
• No. 1 - the same act of negligence of the defendant that causes injury to another may give rise to a liability based on culpa aquiliana and culpa criminal and the injured party may recover twice from the same act or omission of the defendant. No. 2 - When the defendant causes damage to the plaintiff through the formers fault or negligence, there being no contractual relationship between them, the basis of the defendant’s liability is a quasi-contract.
• 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?
• If the seller cancels the contract to sell under the Maceda Law, when will it take effect after receipt of notice of cancellation or demand for rescission by notarial act?
• Charlie gave his diamond-encrusted watch worth Php 25,000.00 to his friend Danny as a birthday gift. Danny readily accepted the gift with profuse gratitude. One month later, they had a serious quarrel; hence, Charlie demanded the return of the watch from Danny. Danny refused to return the watch. What is the nature of this donation?
• Magdalene and Shantung Company entered into a contract of agency before the consul general of the Philippines in Singapore. They stipulated that Magdalene shall be the administrator of the real properties of Shantung Company in the said country. By virtue of the said contract, Magdalene sold the 1 hectare land of Shantung Company located in Singapore to Mayhem Real Estate Corporation without any special power of attorney. The said contract of sale was executed before the vice consul of the Philippines in Singapore. Under the laws of Singapore, the sale of a real property by an agent without a special power of attorney is valid. Shantung Company filed a suit for the annulment of the contract of sale on the ground that Magdalene has no authority to sell the property. If you were the judge, which of the following courses of action should you take?
• Action for rescission on the account of lesion will prescribe within ---
• Which of the following is not correct in connection with the requisites of rescission?
• A bus owned and operated by CRV Lines, Inc., and negligently driven by Mr. D, an employee rammed a Meralco lamp post. The incident injured Mr. P, a passenger, Mr. PD, a pedestrian. Which is correct?
• Mr. P, a passenger in Allied Bus Lines, a common carrier was seriously injured when the bus fell into an embankment because of the negligence of the bus driver. Which of the following statements is more likely in accordance with accepted legal principles?