1. Julie and Rose partners in the auditing firm BL and Associates. They were also co-ownersofaparcelofland.LastJanuary31,2020,whenJulie went to the City Hall to pay her real estate tax, she discovered that Rose has sold her share to Emma on July10, 2020. The following day, Julie offered to redeem her share from Emma, but the latter replied that Julie's right to redeem has already prescribed. Is Emma correct or not? Why?
2. Mark, a Filipino engineer and a resident of United States of America,offerstobuyTekla'spropertyunderthefollowingterms and conditions: P1 million purchase price, 10% option money, the balance payablein cash upon the clearance of the property of all illegal occupants. The option money is promptly paid and Tekla clears the property of illegaloccupants in no time atall.However,when Mark tenders payment of the balance and ask Tekla for the deedfor absolute sale, Tekla suddenly has a change of heart, claiming that the deal is disadvantageous to him as he has found out that the property can fetch three time the agreed purchase price. Mark insisted in buying the property but Tekla contended that he has merely given Mark an option to buy and nothing more, and offers to return the option money which Mark refuses to accept.

• Is Mark correct? Explain.
• May Tekla justify his refusal to proceed with the sale by the fact that the deal is financially disadvantageous to him? Explain.