Question
Upon signing the Deed of Absolute Sale, Samantha Panlilio paid P 200,000 in cash to the spouses and issued a postdated check in the amount
- Upon signing the Deed of Absolute Sale, Samantha Panlilio paid P 200,000 in cash to the spouses and issued a postdated check in the amount of P 2,800,000.00, representing the remaining balance of the purchase price of the subject property. Thereafter, a new Transfer Certificate of Title (TCT) was issued in the name of Samantha Panlilio.
When presented for payment, the check was dishonored for the reason Drawn against Insufficient Funds. Left with no recourse, the Spouses filed a Complaint. Is there meeting of minds?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
1st Edition
0471169196, 978-0471169192
