Topic: Law on Sales

Direction: Answer the problems below by citing the appropriate article/s.

1. Betty and Lydia were co-owners of a parcel of land. Last January 31, 2001, when she paid her real estate tax, Betty discovered that Lydia has sold her share to Emma on November 10, 2000. The following day, Betty offered to redeem her share from Emma, but the latter replied saying that Betty's right to redeem has already prescribed. Is Emma correct or not? Why? 2. On January 2, 1980, A and B entered into a contract whereby A sold to B a parcel of land for P10,000 with the right to repurchase. Since they were friends, no period was agreed upon for the repurchase of the property. a. Until when must A exercise his right of repurchase? b. If A fails to redeem the property within the allowable period, what would you advise B to do for his better protection? 3. A owes B. B assigns the credit to C. Bis in good faith. It was agreed that B would be responsible for A's solvency. The parties did not agree on the duration of the liability. If the debt was due July 6, 2019 and the assignment was made August 8, 2019. Until when is the guaranty? 4. D borrowed P30,000 from C. To secure the debt, D pledged his ring, wristwatch, and necklace. Before the debt could be paid, C died leaving X. Y and Z as heirs. By agreement among the heirs who inherited the credit, the ring would secure the share of X of the credit, the wristwatch the share of Y, a necklace the share of Z. Later, D pays X P 10,000.00. Can D demand the extinguishment of the pledge of the ring?5.a. A shops at supermarket, buys groceries worth P1,000, and pays with an unfunded check and goes home with the groceries. The check is dishonored for lack of funds. Is there estafa? 5.b. In the above facts, if the grocer, knowing A, allows him to pay on a later date, granting then only credit on the goods, and after a few days, A pays with a check that eventually bounces. Is there estafa