1. Ely borrowed P2, 000.00 from Raymund in 2020. The debt is evidenced by a promissory note executed by Ely wherein he promised to pay as soon as he has money or as soon as possible. Raymund has made repeated demands upon Ely for payment, but up to now no payment has been made. Suppose that Raymund will bring an action against Ely for payment of the debt, will the action prosper? 10 pts

2. Narda owed Ding a certain sum of money. Bato wrote Ding a letter stating that he would be the one to take care of Narda's debt as soon as Narda had made a shipment of logs to Korea. Narda never made such shipment. Bato did not pay Ding. Is Bato liable to Ding? Explain 10 pts

3. Taxi driver Erap, driving recklessly, killed pedestrian Pet and his passenger Len. Discuss the source of the obligation of Erap and of his employer to Pet and to Len (5 pts), and the defense available to the employer. (5 pts)