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Ondoy pledged his motor bike to Peping for P5,000.00. When Ondoy failed to pay his obligation, Peping sold the motor bike at public auction to

Ondoy pledged his motor bike to Peping for P5,000.00. When Ondoy failed to pay his obligation, Peping sold the motor bike at public auction to the highest bidder for P4,000.00. Therefore:

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