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I. Max and Cindy met in the La Boracay festivities. Immediately, they fell in love with each other and got married soon after. They have

I. Max and Cindy met in the La Boracay festivities. Immediately, they fell in love with each other and got married soon after. They have been cohabiting blissfully as husband and wife, but they did not have any offspring. As the years passed by, Max decided to take out an insurance on Cindy's life for P1 million with him as sole beneficiary, given that he did not have a steady source of income and he always depended on Cindy both emotionally and financially. During the term of the insurance, Cindy died of what appeared to be a mysterious cause so that which led Max to immediately requested for an autopsy to be conducted. It was established that Carla was transgender all along - a fact unknown to Max. Can Max claim the insurance benefit? (5%)

II Angel works in a car manufacturing company owned by Joan. Angel is quite innovative and loves to tinker with things. With the materials and parts of the car, he was able to invent a gassaving device that will enable cars to consume less gas. Franko, a co-worker, saw how Angel created the device and likewise, came up with a similar gadget, also using scrap materials and spare parts of the company. Thereafter, Franko filed an application for registration of his device with the Bureau of Patents. Eighteen months later, Angel filed his application for the registration of his device with the Bureau of Patents.

a. Is the gas-saving device patentable? Explain. (3%)

b. Assuming that it is patentable, who is entitled to the patent? What, if any, is the remedy of the losing party? (4%)

III Lexy is the registered owner of a 500-square meter land. His friend, Marc, who has long been interested in the property, succeeded in persuading Sony to sell it to him. On June 2, 2012, they agreed on the purchase price of P600,000 and that Lexy would give Marc up to June30, 2012 within which to raise the amount. Marc, in a light tone usual between them, said that they should seal their agreement through a case of Jack Daniels Black and P5,000 "pulutan" money which he immediately handed to Lexy and which the latter accepted. The friends then sat down and drank the first bottle from the case of bourbon. On June 15, 2013, Lexy learned of another buyer, Robert, who was offering P800,000 in ready cash for the land. When Robert confirmed that he could pay in cash as soon as Lexy could get the documentation ready, Lexy decided to withdraw his offer to Marc, hoping to just explain matters to his friend. Marc, however, objected when the withdrawal was communicated to him, taking the position that they have a firm and binding agreement that Lexy cannot simply walk away from because he has an option to buy that is duly supported by a duly accepted valuable consideration.

a. Does Marc have a valid complaint against Sony? (4%)

b. Can Lexy claim that whatever they might have agreed upon cannot be enforced because any agreement relating to the sale of real property must be supported by evidence in writing and they never reduced their agreement to writing? (3%)

IV Tommy obtained a loan of P1,000,000 from Fred, payable within one year. To secure payment, Tommy executed a chattel mortgage on a Toyota Avanza and a real estate mortgage on a 200-square meter piece of property.

a. Would it be legally significant - from the point of view of validity and enforceability - if the loan and the mortgages were in public or private instruments? (3%)

b. Tommy's failure to pay led to the extra-judicial foreclosure of the mortgaged real property. Within a year from foreclosure, Tommy tendered a manager's check to Fred to redeem the property. Fred refused to accept payment on the ground that he wanted payment in cash: the check does not qualify as legal tender and does not include the interest payment. Is Fred's refusal justified? (3%)

V. Carry had a deposit in a savings account with Banco Filipino in the amount of five Million pesos (P5,000,000.00). To buy a new car, she obtained a loan from the same bank in the amount of P1,200,000.00, payable in twelve monthly installments. Carry issued in favor of the bank in post-dated checks, each in the amount of P100,000.00 to cover the twelve-monthly installment payments. On the third, fourth and fifth months, the corresponding checks bounced. The bank then declared the whole obligation due, and proceed to deduct the amount of one million pesos (P1,000,000.00) from Carry's deposit after notice to her that this is a form of compensation allowed by law. Is the bank correct? Explain. (5%)

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