1. Which of the following is not correct in an obligation with a period?

Whenever in an obligation a period is designated, it is presumed to have been established for the benefit of both the creditor and the debtor.

The court as a rule is authorize to fix the period even the period was not intended.

When the debtor binds himself to pay when his means permit him to do so, the obligation shall be deemed to be one with a period.

The debtor loses the right to make use of the period, when the debtor after the obligation has been contracted, he becomes insolvent, unless he gives a guaranty or security for the debt.

1. In a written contract of sale between S and B the true intention of the parties was not incorporated due to the mistake of S. However, B has knowledge that the instrument does not reflect the true intention of the parties but concealed such information to S. Assume that there was a meeting of the minds between S and B. Who can bring the action for reformation?

S only

Neither S nor B

Both S and B

B only