Please refer to Civil Code of the Philippines (Obligations and Contracts) to answer the following.

1. John and XYZ Realty entered into a contract to sell covering one residential condominium unit. John paid the full purchase price and made a down payment for the parking lot. Notwithstanding this, XYZ Realty failed to complete and deliver the subject unit on time. John filed a complaint for rescission of contract with damages before the Housing and Land Use Regulatory Board. Will the complaint prosper?

2. Once the obligor incurs in delay, is he liable for payment of interest as indemnity for damages?

3. Rice and Chris both undertook a contract to deliver to Sam in Manila a boat docked in Subic. Before they could deliver it, however, the boat sank in a storm. The contract provides that fortuitous event shall not exempt Rice and Chris from their obligation. Owing to the loss of the motor boat, such obligation is deemed converted into one of indemnity for damages. Is the liability of Rice and Chris joint or solidary?