Question: 1. D borrowed from C P5,000. As security for the debt, D promised to give his diamond ring to C. a. What kind of contract

1. D borrowed from C P5,000. As security for the debt, D promised to give his diamond ring to C.

a. What kind of contract is necessary as regard the security?

b. Is the delivery of the ring to C necessary or not? Why?

c. Suppose D did not comply with his promise to deliver the ring to C, is the debt of D to C for P5,000 valid despite the non-compliance of the delivery of the ring to C? Why?

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