Shine sold his only car to Bright for P 550,000.00 payable in 10 equal installments of P 55,000.00 each. As security, Bright executed a chattel mortgage on the car.

(a) after paying the first three installments, Bright defaulted in the payment of the fourth installment. What remedy or remedies are available to Shine?

(b) may Shine cancel the sale or foreclose the chattel mortgage on the car?

(c) Bright defaulted in the payment of fourth and fifth installments and as a result, Shine foreclosed the chattel mortgage constituted on the car. At the foreclosure sale, the car was sold only for net amount of P 260,000.00. Can Shine recover the deficiency of P 125,000 from Bright?