Question
W sold his land (not registered) with a right to repurchase within two (2) years to B. If before two years B sold the same
W sold his land (not registered) with a right to repurchase within two (2) years to B. If before two years B sold the same land to C, a purchaser for value and in good faith.
- a. W cannot repurchase the property from C because no right was mentioned in the sale between B and C.
- W may still repurchase the property from C even if in the sale between B and C, no mention was made of the right of W.
- W may still repurchase the property from C if C will agree to it.
- W and C will enter into a new contract of repurchase.
2. Where it is stipulated that the repurchase of the property sold could be made at any time, the repurchase shall be exercised:
- After 10 years from the date of the contract
- Within 10 years from the date of the contract
- None of them
- Within 4 years from the date of the contract
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Introduction to Governmental and Not for Profit Accounting
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