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?

Related MCQs

• A & B entered into a contract of sale, A, obligating himself to deliver his house and lot to B who obligated himself to pay P2M upon delivery. B has already paid, but A has not delivered the house and lot despite demand. State the remedy of B.
• 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 is indebted to B in the amount of P2M. When the obligation became due and demandable B delivered to A his car and A accepted it. A month later A sued B for sum of money. Can B interpose the defense of dacion en pago?
• 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.
• When A’s obligation to B became due and demandable, A offered to pay, but refused to accept payment. State the remedies of A.
• 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?
• A & B entered into a contract of pledge, where B delivered his car to A as security for the payment of an obligation in the amount of P2M. For failure of B to pay what is the remedy of A?
• 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 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?
• A and B entered into a contract of sale over A’s property. The document that evidences the contract did not state how much was paid, but A delivered the property to B. What is the nature of the contract?