1.Simon offered to sell his television set to Benecio for P11, 000 cash. Benicio accepted the offer but was willing to pay only P10, 500. Was there a perfected contract? Why?

2.Andy made an office desk for Ben. Andy told Ben that the latter may pay whatever amount he would like to pay for it. When the desk was finished, Ben offered to pay P2, 000.00 but Andy instead demanded P3, 000.00, its fair value. Is Andy entitled to P3, 000.00?

3.On March 1, 2002, Silvino offered to sell his only car for P10, 000 cash to Bonito who was interested in buying the same. Silvino told Bonito that he was giving him up to March 31, 2002 to decide whether to buy the car or not. Bonito agreed to the option and gave Silvino option money of P1, 000. On March 20, 2002, Silvio found another buyer who was willing to pay P120, 000 in cash. Silvino personally visited Bonito to inform him that he was withdrawing his offer unless Bonito agreed to buy the car for P120, 000.

a.May Silvino withdraw his offer to Bonito before March 31, 2002? Why?

b.Assuming that on March 15, 2002, Bonito decided to buy the car and informed Silvino of his decision, how much must Bonito pay Silvino? Why?