Question
LEGAL BASIS - Answer and Explain why. Facts: JIya and Marian owed Drew P500,000.00 for advancing their equity in a corporation they joined as incorporators.
LEGAL BASIS - Answer and Explain why.
Facts:
JIya and Marian owed Drew P500,000.00 for advancing their equity in a corporation they joined as incorporators. Iya and Marian bound themselves solidarily liable for the debt. Later, Iya and Drew became sweethearts so Drew condoned the debt of P500,000.00.
Question: May lya demand from Marian P250,000.00 as her share in the debt? Explain.
Answer:
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Business Law in Canada
Authors: Richard A. Yates, Teresa Bereznicki Korol, Trevor Clarke
10th Canadian Edition
133249093, 978-0132164412, 132164418, 978-0133249095
