I.

A. In what way is compensation similar to payment?

B. D owes C P10,000 payable on November 20, C owes D P10,000 payable on October 20,. Can compensation also take place although the debts are not payable on the same date?

EXERCISES -

II.

1. Define concept

2. Acceptance

3. In a contract containing an option period, when is the offerer not allowed to withdraw his offer even before acceptance by the offeree? When is the offerer allowed to withdraw his offer even after acceptance?