In Obligations and Contracts, if Mr. A is indebted to B for P200,000. P100K was secured by
Fantastic news! We've Found the answer you've been seeking!
Question:
In Obligations and Contracts, if Mr. A is indebted to B for P200,000. P100K was secured by his racehorse and the other P100k is secured by his cow. The agreement is that the obligation of A will be payable on December 25, 2023. However, today, February 6, 2023, lightning frightened the horse and the horse ran, and did not notice that it was headed to the cliff and fell, causing a broken leg. Because of what happened to the horse, A was very mad that he hit the cow, causing the cow to likewise suffer a broken leg.
What will happen to the obligation of Mr. A?
What if the two animals die because of the incident, what will happen to the obligation of Mr. A?
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: