Question
On March 25, 2019, John borrowed P4,000,000.00 from Devito, collateralized by a pledge of shares of stock of San Miguel Corporation worth P8,000,000.00. In 2020,
On March 25, 2019, John borrowed P4,000,000.00 from Devito, collateralized by a pledge of shares of stock of San Miguel Corporation worth P8,000,000.00. In 2020, because of pandemic brought about by Covid 19, the value of the shares pledged fell to only P1,000,000.00. Can Devito demand that John surrender the other shares worth P7,000,000.00?
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Contract Law Text Cases And Materials
Authors: Ewan McKendrick
10th Edition
0192856545, 978-0192856548
