1. On February 1, 2021, Lewis obliged himself to deliver on March 1,

2021 his Mercedes Benz F1 car that won the 2020 F1 World

Championship to Sebastian. The car is parked inside the mansion of

Lewis in Legazpi City. On March 1, 2021, Lewis was not able to deliver

to Sebastian the car. On March 5, 2021, a strong typhoon hit Legazpi

City. The mansion of Lewis was destroyed including his Mercedes Benz

F1 car. Will Lewis be liable to Sebastian for the delivery of the

Mercedes Benz F1 car? Explain.

2. Discuss the difference between a suspensive condition and a

resolutory condition as to its effects on obligations.

3. Why is it important for a CPA to have knowledge about the Law on

Obligations and Contracts?