I need correct answers to the following questions Explain or state briefly the rule or reason for
Question:
I need correct answers to the following questions
Explain or state briefly the rule or reason for your answer.
1. A and B entered into a contract not specifically provided in the
Civil Code. Is the contract valid and binding?
2. S (seller) and B (buyer) entered into a contract of sale. It was
agreed that the price shall be determined by T, a third person. Can
S and B refuse to be bound by T's determination of the price if he
does not agree with the amount thereof?
3. D owes C P 20,000.00. Both are house painters. It was agreed
that D instead of paying C, will paint the house of E to which E
expressed his conformity to C whose service as painter was
previously contracted by E. Has B the right to enforce the
stipulation between C and D?
4. X made an office desk for Y. X told Y that the latter may pay
whatever amount he would like to pay for it. When the desk was
finished Y offered to pay P 2,000.00 but instead demanded
P3,000.00, its fair value. Is X entitled to P 3,000.00?
PROBLEMS
Explain or state briefly the rule or reason for your answer.
1. S sold his house to B believing that B was C. Can S legally
withdraw from the contract on the ground of mistake?
2. S agreed to deliver to B 500 cavans of rice at P 600 per cavan. S
delivered only 490 cavans deliberately misrepresenting that the
delivery consisted of 500 cavans. Can B ask the court to annul the
contract on the ground of fraud?
3. S has several pigs. Under a contract of sale, S binds himself to
deliver a pig to a B for P3,000.00 if the pig has a weight of a at
least 30 kilos. State the binding effect of the sale?
4. S sold to B a specific parcel of land for P 500,000.00 B failed to
pay. Has C the right to have the sale declared void by the court on
the ground of absence of cause for non-payment of the price?
5. S sold B his car worth P 250,000.00 for only P 200,000. There is
no question that the purchase price is grossly inadequate. Has S
the right to have the sale annulled?
Auditing Cases An Interactive Learning Approach
ISBN: 978-0132423502
4th Edition
Authors: Steven M Glover, Douglas F Prawitt