18.Ibrahim borrowed money from Fidel, as evidenced by a loan agreement. Ibrahim used as collateral for...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
18.Ibrahim borrowed money from Fidel, as evidenced by a loan agreement. Ibrahim used as collateral for the loan his parcel of land situated in Maria Luisa Estate Park in Cebu City. Under the terms of their agreement, Fidel has the exclusive and irrevocable option to buy the collateral for the amount of P100 million, inclusive of the borrowed amount of P50 million and interest therein at 6% per annum. When the loan matured, Ibrahim was unable to pay his loan obligation. Ibrahim, however, refused to sell his collateral to Fidel. May Fidel compel Ibrahim to sell his collateral by exercising the option to buy under the loan agreement? Discuss your answer. 18.Ibrahim borrowed money from Fidel, as evidenced by a loan agreement. Ibrahim used as collateral for the loan his parcel of land situated in Maria Luisa Estate Park in Cebu City. Under the terms of their agreement, Fidel has the exclusive and irrevocable option to buy the collateral for the amount of P100 million, inclusive of the borrowed amount of P50 million and interest therein at 6% per annum. When the loan matured, Ibrahim was unable to pay his loan obligation. Ibrahim, however, refused to sell his collateral to Fidel. May Fidel compel Ibrahim to sell his collateral by exercising the option to buy under the loan agreement? Discuss your answer.
Expert Answer:
Answer rating: 100% (QA)
Fidel may not be able to compel Ibrahim to sell his collateral by exercising the option to buy under ... View the full answer
Posted Date:
Students also viewed these law questions
-
This assignment asks that you reflect on the multiple ways you may identify yourself. In the context of human diversity, there are many ways in which you are different from, and the same as, other...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Following the example from the picture below, do the same for tryptophan and aspartate, consider pk1, pkR and pk2. COOH HSCH Net charge: PH H CH COOH +1 10 8 6 4 2 COOH 0 Glutamate Jpk 2.19 pk 4.25 ...
-
Section 103 of the Federal Public Works Employment Act establishes the MBE (Minority Business Enterprise) program and requires that, absent a waiver by the Secretary of Commerce, 10 percent of all...
-
Compute the missing amount for Jones Corporation. You will need to work through total stockholders equity. Requirements 1. Did Jones earn a net income or suffer a net loss for the year ? Compute the...
-
The income statement of Kneale Transport Inc. for the year ended December 31, 2014, reported the following condensed information: Kneale's statement of financial position contained the following...
-
You are given that the stock price is 90, the 2-year forward price is 100, and the 2-year prepaid forward price is 85. Calculate the amount paid at the end of a year on a fully leverage investment in...
-
The Crowening has gotten through their first full year of operations! They are curious to see how they did compared to how they thought they would do at the beginning of the year. Theyve enlisted you...
-
Tufty plc produces a small range of industrial pumps using automated methods. The business is now considering production of a new model of pump, starting on 1 January 20X3. The business wishes to...
-
Before you took this class, you might have heard someone say that markets are efficient. Compare the description of efficiency in this chapter with what you thought about efficiency prior to taking...
-
Can you think of a good or service that is produced entirely by one companywithout the purchase of any raw materials or other goods or services from another company? First, each member of the group...
-
The European Union (EU) has put a tariff system in place on imports of bananas from Latin America. The rationale behind this tariff system is that the imports of cheap bananas may damage domestic...
-
What to produce, how to produce it, and who receives the goods and services produced. High-income countries like the United States have capitalist economic systems, which economists call market...
-
Assume that divisional income from operations amounts to $194,530.00 and top management has established 15% as the minimum rate of return on divisional assets totaling $1,122,448.00. What is the...
Study smarter with the SolutionInn App