Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X, owner of a mining claim, appointed as attorney-in-fact to enter into a contract with any individual or juridical person for the exploration and development

X, owner of a mining claim, appointed as attorney-in-fact to enter into a contract with any individual or juridical person for the exploration and development of said claim on a royalty basis. Y himself embarked upon the exploitation of the claim. Subsequently, X revoked the authority to Y who assented thereto subject to certain conditions. As a result, a document was executed wherein T transferred to X all of Y's rights and interests over the "24 tons of iron ore, more or less" that Y had already extracted from the mineral claims in consideration of the sum of P75,000.00, P10,000.00 of which was paid upon the signing of the agreement, and "the balance of P65,000.00 will be paid from and out of the first letter of credit covering the first shipment of iron ores and of the first amount derived from the local sale of iron ore "from said claims.To secure the payment of the balance, X executed in favor of Y a surety bond. No sale of approximately 24,000 tons of iron ore had been made nor had the balance of P65,000.00 been paid to Y.Is the shipment or the local sale of the iron ore a condition precedent (or suspensive condition) to the payment of the balance, or only a suspensive period or term?

S obliged himself to deliver to B 20 bottles of wine, of a particular brand. S delivered 20 bottles knowing that they contain cheaper wine. S is guilty of fraud and is liable for damages to B

A.Dolo Causante B.Dolo Incidente C.Fraud D.Negligence

explain the answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Legal Environment Of Business Online Commerce Ethics And Global Issues

Authors: Henry R. Cheeseman

8th Edition

013397331X, 978-0133973310

More Books

Students also viewed these Law questions

Question

Which RAID level uses a mirror (shadow) set?

Answered: 1 week ago

Question

What is learning?

Answered: 1 week ago