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Please answer in a brief but concise manner. Perales borrowed Php10 million from Peralta, with a mortgage on her as security for the loan. Subsequently,
Please answer in a brief but concise manner.
- Perales borrowed Php10 million from Peralta, with a mortgage on her as security for the loan. Subsequently, Perales sold the land to Peralta. Is the obligation and mortgage extinguished?
- Perales borrowed Php10 million from Peralta, with a mortgage on her land as security for the loan. When the loan became due, the bestfriend of Perales, Monisit, paid the whole loan. Is the obligation to Peralta extinguished?
- Suppose in the preceding facts, Perales cannot reimburse the P10 million to Monisit, can Monisit foreclose the mortgaged land?
- In preceding problem, suppose the payment made by Monisit was with the consent of Perales, would Monisit be able to foreclose the land?
- Orville borrowed Php1 million from Jeremy. Thereafter, Orville asked Jeremy if Arden can assume his obligation. Jeremy agreed. On due date, Arden could not pay because he was insolvent which was subsisting but was not known to Jeremy or of public knowledge at the time that Orville delegated his obligation. Can Jeremy go after Orville for the payment of the obligation
- Will you answer be the same if the insolvency of Arden was known to Jeremy when he agreed on the delegation of the obligation?
- Lahug Co. was indebted to Ecotech Inc. in the amount of Php100 million. Subsequently, the court made an order that all debtors of Ecotech Inc. should suspend payment pending the case filed before it. Lahug Co. despite the order still paid its obligation to Ecotech Inc. Is the obligation of Lahug Co. extinguished?
- Elvin is a lessee of Palangdao building. Under the lease contract, Elvin must pay the monthly lease of P25,000 at the beginning of the month. On the due date of the lease, Elvin went to Palangdao's office to pay the rental but he was told by Gener, an employee of Palangdao, that the latter was confined at the hospital due to Covid. Gener told Elvin that he could pay to him. Rainer, a son of Palangdao, who was at the office, however, demanded that Elvin must pay to him claiming that as Palangdao's son, he was the one authorized to receive the payment. To avoid any penalties and surcharges, what legal advise should you give to Elvin given his current dilemma?
- X, Y and Z are jointly liable to A for Php30,000 evidenced by a promissory note. A indorsed the note to B, who then indorsed it to X. What is the effect of the indorsement of the note to X with regards to the entire obligation?
- Would your answer be the same if X, Y and Z are solidarily liable to A?
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