1. X, Y and Z owe A jointly P3,000. Subsequently, A donates to X his credit against the latter. Are Y and Z still liable to A?
2. X owes Y P2,000 payable on July 31, 20020. Y binds himself to deliver to X one sack of rice worth P2,000 on July 31, 2020. Will compensation take place?
3. A owes B P500,000 payable after one year. One week after from date of contract, A and B agree to secure the obligation by a real estate mortgage (sangla ng lupain). Is there a novation? Explain.
4. A offers to sell his one and only motorcycle for P15,000 and B agrees to buy it for said amount. Is the contract perfected? Explain.
5. Suppose in the above problem, B wants to buy the motorcycle for P12,000. What is the effect?
6. On November 15, 2020, A sold to B his one and only car for P200,000 to be delivered and paid on November 30, 2020. Is there a perfected contract between A and B? When is the contract perfected?
7. X asked Y if he can borrow his car next week and the former agreed. Is the contract perfected between X and Y? Explain.