[Solved] A and B entered into a compromise agreement dated April 29, 2007 and approved on July 1, 2007. It states that A will pay B the amount of P1M within one (1) year from the execution of the agreement. What is the reckoning point of the one (1) year period?

Q.	A and B entered into a compromise agreement dated April 29, 2007 and approved on July 1, 2007. It states that A will pay B the amount of P1M within one (1) year from the execution of the agreement. What is the reckoning point of the one (1) year period?
A.	From the approval of the compromise;
B.	From the receipt of the judgment based on compromise;
C.	From the date of the execution of the compromise;
D.	15 days after receipt of the judgment. (Santos Ventura Hocorma Foundation, Inc. v. Santos, 5 November 2004).
Answer» C. From the date of the execution of the compromise;

4.5k

Do you find this helpful?

View all MCQs in

Philippines Civil Law Society

Discussion

No comments yet

Related MCQs

A & B entered into a contract of loan in the amount of P1M with interest at 192% per annum. When the obligation became due and demandable B failed to pay despite demand, hence, A filed a complaint against B. On the interest rate, what is a valid contention of B?
A and B entered into a contract for A to construct a 20-door apartment for B. Payment shall start after the construction of ten (10). A subsequent agreement was entered into that payment will start after construction of seven (7). What is the effect of the subsequent agreement?
X and Y are married. They were leasing a parcel of land in 2007; they constructed a house on the leased lot valued at P1M and resided thereon. While in business, they incurred liability from Z who sued them for failure to pay. Judgment was rendered and it became final and executory. Can the house be levied upon?
A is the owner of a parcel of land. He entered into a contract to sell with B with an obligation to pay the price within one (1) year. B failed to pay. State the effect of non-payment.
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. 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 & B entered into a contract of sale over A’s car for P500,000.00. A has to register the car first before payment and delivery. After the registration of the car, A called up B that the car was ready for pick up. B asked him to send his driver to deliver the car as he was going to pay before delivery. B was able to convince the driver to leave the car at his garage and will just deposit the amount with A’s account for fear that the driver might be the subject of a hold-up. Instead of depositing the amount, he sold the car to C. Can A recover the car from C?
X executed a holographic will dated December 2000. After his death, A and B, the heirs filed a petition for probate, but C, the daughter opposed on the ground that the will is not valid because it is not completely dated.
A and B were engaged to marry on April 3, 2012. They entered into a marriage settlement that they would be bound by the rule on co-ownership. Is the ante-nuptial agreement valid?
State the nature of this donation: “I hereby donate to X “mortis causa” a 1000 square meter lot worth P10M subject to the condition that this donation shall be deemed revoked if he fails to build a house on the land worth P1M within one (1) year from date hereof and delivery shall be made after my death.”