Question
Hello, kindly help me answer my homework in Business Law. Thank you! EXTINGUISHMENT OF CONTRACT OF SALE AND LOAN Start the answer with either YES
Hello, kindly help me answer my homework in Business Law. Thank you!
EXTINGUISHMENT OF CONTRACT OF SALE AND LOAN
Start the answer with either "YES" or "NO", IF APPLICABLE to be followed by your LEGAL REASON/S. Answers should be brief and direct to the point. Do not repeat the question. Both your INITIAL ANSWER and your LEGAL REASON/S must be correct to be given credit.
1. Alex, Bart and Charlie are co-owners of a small urban land, they having inherited the same from their wealthy aunt. Dante owns the adjoining land. Charlie donated a portion of the land that he co-owns with Alex and Bart to Excel, and Bart sold his portion to Ferleine.
b. In case both Alex and Dante want to redeem the portion of Charlie, who is the preferred first, the co-owner of the owner of the adjoining land? Explain.
a. Has Dante the right of redemption with respect to the portion of Bart? Explain.
2. Bart sold a parcel of land to Vhee for P400,000.00. In the Deed of Sale, it was expressly stipulated that "at any time after the expiration of nine (9) years to be computed from August 1, 1992, the vendor, his heirs or successors-in-interest has the option and priority to purchase the land for the consideration of P400,000.00." On August 2, 2001, the heirs of Bart commenced an action against Vhee to compel the latter to reconvey the land to them pursuant to the contractual provisions of the afore-quoted Deed of Sale. Vhee stands squarely on the proposition that the stipulation in the contract giving the vendor, his heirs or successors-in-interest the "option" to purchase the land is void and contrary to law, particularly Article 1606 of the Civil Code.
Rule on the contention of Vhee citing legal reasons.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started