Instructions: Your answers will be written right after its questionsfproblems. 1. Juan takes an insurance policy on the life of his friend Luis, becoming himself the beneficiary. Is the policy valid Explain. (5 pts.) 2. On June 14, 2019, X, a homosexual, took an insurance policy on the life of his boyfriend, Y. In the insurance application, X misrepresented that Y was in perfect health although he knew that all the time that Y was aficted with AIDS. On October 13, 2021 Y died in a motor accident. Shortly thereafter, X led his insurance claim. Question: Should the insurer pay? Reasons. (10 pts) 3. A insured his l0storey building located in Ayala against fire with X and Company for P5.0 million on Sept. 1, 2020. He sold the building to B on Sept. 20, 2020 for P.0 million without endorsing the re policy. On Sept. 25, 2020, the building was gutted by an accidental re. Questions: a. Can A collect from X and Company the proceeds of the fire policy? Reason (5 pts) 11. Can B as new owner of the building, collect the proceeds? Reason (5 pts) c. Assuming that the building was mortgaged to Bank Y to secure the debt of A for P4.0 million and the sale was made without the knowledge of Bank Y, would your answer be the same as in (a) and (b) above? Reason (10 pts) .1. Can Bank Y collect from X and Company? Explain (5 pts)