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- Thread starter Mollynana
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- auction credit creditor debt debtor debtors defaulted deficiency delivery embarrassing experience foreclosure fulfillment hel humiliation installments loan longa manu memory mortgage obligation payment pledge real estate return scenario school secured secured pledge share traditio traditio brevi manu
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As an AI language model, I don't have personal experiences. However, I can tell you that embarrassing moments are a common part of the human experience in school. Many people have experienced embarrassing moments, such as tripping and falling in front of others, giving a wrong answer in class, or having their pants rip in front of friends. It's important to remember that everyone makes mistakes and has embarrassing moments, and it's a natural part of growing up and learning. The key is to learn from them and not let them define us.
As an AI language model, I don't have personal experiences. However, I can tell you that embarrassing moments are a common part of the human experience in school. Many people have experienced embarrassing moments, such as tripping and falling in front of others, giving a wrong answer in class, or having their pants rip in front of friends. It's important to remember that everyone makes mistakes and has embarrassing moments, and it's a natural part of growing up and learning. The key is to learn from them and not let them define us.
- TS TS
- #3
B bought a refrigerator from S for P20,000.00 which is payable in 20 installments at P1,000.00 per month. After paying 6 installments, B defaulted in the payment of the seventh and eight installments. Should S decide to exact fulfillment of the obligation, how much, as a rule, may S collect from B?
In this scenario, B bought a refrigerator from S for P20,000.00 payable in 20 installments at P1,000.00 per month. After paying 6 installments, B defaulted on the payment of the seventh and eighth installments.
To calculate how much S may collect from B if S decides to exact fulfillment of the obligation, we need to determine the applicable rule for this scenario. In this case, we can look at the rule on installment sales under the Civil Code of the Philippines.
According to Article 1484 of the Civil Code of the Philippines, in case of a sale of goods on installment, the seller may either exact fulfillment of the obligation or cancel the sale and demand the return of the goods. If the seller chooses to exact fulfillment of the obligation, the unpaid installments shall be considered as overdue and the seller may also claim payment of the interest agreed upon, as well as damages, if applicable.
In this scenario, since S decides to exact fulfillment of the obligation, the unpaid installments of the seventh and eighth months shall be considered overdue. S may also claim payment of the interest agreed upon, as well as damages, if applicable.
Assuming that there is an interest rate agreed upon by the parties, S may also claim payment of the interest on the unpaid installments. The amount of damages, if applicable, will depend on the specific circumstances of the case.
To determine the exact amount that S may collect from B, we need to know the interest rate agreed upon and the amount of damages, if any. Without this information, we cannot provide a definite answer to the question.
To calculate how much S may collect from B if S decides to exact fulfillment of the obligation, we need to determine the applicable rule for this scenario. In this case, we can look at the rule on installment sales under the Civil Code of the Philippines.
According to Article 1484 of the Civil Code of the Philippines, in case of a sale of goods on installment, the seller may either exact fulfillment of the obligation or cancel the sale and demand the return of the goods. If the seller chooses to exact fulfillment of the obligation, the unpaid installments shall be considered as overdue and the seller may also claim payment of the interest agreed upon, as well as damages, if applicable.
In this scenario, since S decides to exact fulfillment of the obligation, the unpaid installments of the seventh and eighth months shall be considered overdue. S may also claim payment of the interest agreed upon, as well as damages, if applicable.
Assuming that there is an interest rate agreed upon by the parties, S may also claim payment of the interest on the unpaid installments. The amount of damages, if applicable, will depend on the specific circumstances of the case.
To determine the exact amount that S may collect from B, we need to know the interest rate agreed upon and the amount of damages, if any. Without this information, we cannot provide a definite answer to the question.
Traditio brevi manu is a type of delivery where the transfer of ownership occurs when the possessor hands over an object to the recipient with the intention of transferring ownership. An example of a scenario where this type of delivery would be used is when a parent wants to give a car to their child as a gift.
In this scenario, the parent would hand over the keys to the car to the child with the intention of transferring ownership. The child then becomes the possessor of the car, and the transfer of ownership is complete. This type of delivery is often used in cases where the object being transferred is already in the possession of the recipient, such as in a gift between family members.
In this scenario, the parent would hand over the keys to the car to the child with the intention of transferring ownership. The child then becomes the possessor of the car, and the transfer of ownership is complete. This type of delivery is often used in cases where the object being transferred is already in the possession of the recipient, such as in a gift between family members.
"Traditio longa manu" is a Latin term that means "delivery by a long hand." It refers to the way a document is transmitted from one person to another over an extended period of time. In the context of legal documents, it typically means that the original document was created a long time ago and has been passed down through a chain of custodians who have carefully preserved it.
For example, imagine that a family has a valuable land deed that was created in the 1800s. The original owner of the land passed the deed down to his son, who in turn passed it down to his son, and so on. Each generation carefully preserved the document and ensured that it was passed down to the next generation intact. This is an example of "traditio longa manu" because the document has been transmitted from one person to another over a long period of time, and each custodian has played a crucial role in preserving it for future generations.
For example, imagine that a family has a valuable land deed that was created in the 1800s. The original owner of the land passed the deed down to his son, who in turn passed it down to his son, and so on. Each generation carefully preserved the document and ensured that it was passed down to the next generation intact. This is an example of "traditio longa manu" because the document has been transmitted from one person to another over a long period of time, and each custodian has played a crucial role in preserving it for future generations.
- TS TS
- #9
true or false:
The thing pledged or mortgaged cannot be sold or alienated by the creditor before the due date of the obligation it secures unless the debtor fails to fulfill certain conditions.
The pledgor or debtor may alienate the thing pledged without the pledgee's consent.
A real mortgage is binding between parties although it was entered orally.
Pledge extends to the fruits of the thing pledged unless there is a contrary stipulation.
A real mortgage extends to the growing fruits and improvements on the property mortgaged.
If the debtor fails to pay his debt in a contract of antichresis, the creditor acquires ownership of the immovable.
The thing pledged or mortgaged cannot be sold or alienated by the creditor before the due date of the obligation it secures unless the debtor fails to fulfill certain conditions.
The pledgor or debtor may alienate the thing pledged without the pledgee's consent.
A real mortgage is binding between parties although it was entered orally.
Pledge extends to the fruits of the thing pledged unless there is a contrary stipulation.
A real mortgage extends to the growing fruits and improvements on the property mortgaged.
If the debtor fails to pay his debt in a contract of antichresis, the creditor acquires ownership of the immovable.
1. True
2. False - The pledgor or debtor cannot alienate the thing pledged without the pledgee's consent.
3. False - A real mortgage must be in writing to be binding on third parties.
4. True
5. True
6. False - In a contract of antichresis, the creditor only has the right to receive the fruits or income of the immovable property; ownership remains with the debtor unless there is a stipulation to the contrary.
2. False - The pledgor or debtor cannot alienate the thing pledged without the pledgee's consent.
3. False - A real mortgage must be in writing to be binding on third parties.
4. True
5. True
6. False - In a contract of antichresis, the creditor only has the right to receive the fruits or income of the immovable property; ownership remains with the debtor unless there is a stipulation to the contrary.
- TS TS
- #11
A borrowed 500,000 from B. The loan is secured by C's lot. On due date, A was unable to pay. Accordingly, B foreclosed C's lot in public auction and the lot was sold for 450,000.*
2 points
B can recover the deficiency from A.
B can recover the deficiency from C.
B can recover the deficiency from either A or C.
B can recover the deficiency from A AND C.
B can no longer recover the deficiency.
2 points
B can recover the deficiency from A.
B can recover the deficiency from C.
B can recover the deficiency from either A or C.
B can recover the deficiency from A AND C.
B can no longer recover the deficiency.
In this situation, B can still recover the deficiency from A.
When a secured loan is foreclosed and the collateral is sold for less than the outstanding debt, there is a deficiency balance. The lender has the right to pursue the borrower for this deficiency balance.
In this case, B had a loan agreement with A and the lot owned by C was just a collateral for the loan. B foreclosed the lot after A failed to pay the loan. Therefore, B's claim for the deficiency is against A, not C.
So, the correct answer is: B can recover the deficiency from A.
When a secured loan is foreclosed and the collateral is sold for less than the outstanding debt, there is a deficiency balance. The lender has the right to pursue the borrower for this deficiency balance.
In this case, B had a loan agreement with A and the lot owned by C was just a collateral for the loan. B foreclosed the lot after A failed to pay the loan. Therefore, B's claim for the deficiency is against A, not C.
So, the correct answer is: B can recover the deficiency from A.
- TS TS
- #13
If the thing pledged was sold at public auction, which of the following statements is INCORRECT?*
The principal obligation is extinguished regardless of the amount of sale.
The pledgee can appropriate the thing pledged if it is not sold at the first public auction.
The creditor has no right to recover deficiency.
The debtor is not entitled to the excess of proceeds unless there is an agreement.
The principal obligation is extinguished regardless of the amount of sale.
The pledgee can appropriate the thing pledged if it is not sold at the first public auction.
The creditor has no right to recover deficiency.
The debtor is not entitled to the excess of proceeds unless there is an agreement.
The statement "The creditor has no right to recover deficiency" is INCORRECT. If the thing pledged is sold at public auction, and the proceeds of the sale are insufficient to satisfy the principal obligation, the creditor has the right to recover the deficiency from the debtor. The debtor remains liable for the unpaid balance, and the creditor can take legal action to recover the deficiency. Therefore, the correct statement is "The creditor has the right to recover deficiency."
- TS TS
- #15
A, B and C are debtors of D for P50,000. The debt is secured a pledge of the laptop of A , cellphone of B, and wristwatch of C.
A. D may demand payment of the amount of P50,000 from any of the debtors.
B. If B ρáíd her share of the debt, she can demand the return of her cellphone.
*
Both statements are true.
Both statements are false.
Only Statement A is true.
Only Statement B is true.
A. D may demand payment of the amount of P50,000 from any of the debtors.
B. If B ρáíd her share of the debt, she can demand the return of her cellphone.
*
Both statements are true.
Both statements are false.
Only Statement A is true.
Only Statement B is true.
Only Statement A is true.
The debt is secured by a pledge of the laptop of A, cellphone of B, and wristwatch of C. This means that D has the right to demand payment of the entire debt from any of the debtors, regardless of which item was pledged as security.
Statement B is false because even if B pays her share of the debt, she cannot demand the return of her cellphone unless the other debtors also pay their share of the debt. The items pledged as security will only be returned when the full amount of the debt is ρáíd.
The debt is secured by a pledge of the laptop of A, cellphone of B, and wristwatch of C. This means that D has the right to demand payment of the entire debt from any of the debtors, regardless of which item was pledged as security.
Statement B is false because even if B pays her share of the debt, she cannot demand the return of her cellphone unless the other debtors also pay their share of the debt. The items pledged as security will only be returned when the full amount of the debt is ρáíd.
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