A died intestate, survived by his wife, B, and several children, X, Y and Z, by a Chinese wife. B subsequently filed a claim against A’s estate for P250,000 which the court approved on the strength of a deed wherein the decedent acknowledged said indebtedness to his wife. Thereafter, the administrator of the estate proceeded against A & Co., a firm founded by the decedent, for an accounting of the income derived from the shares of stock owned by the decedent in the company. In answer, the company alleged that the decedent had already transferred all his shares to his children, X, Y and Z. It is admitted that the transfer was made gratuitously. B, on the other hand, testified that the P250,000 borrowed by the decedent from her had been invested in the company. Can the transfer be rescinded on the ground of fraud?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A died intestate, survived by his wife, B, and several children, X, Y and Z, by a Chinese wife. B subsequently filed a claim against A’s estate for P250,000 which the court approved on the strength of a deed wherein the decedent acknowledged said indebtedness to his wife. Thereafter, the administrator of the estate proceeded against A & Co., a firm founded by the decedent, for an accounting of the income derived from the shares of stock owned by the decedent in the company. In answer, the company alleged that the decedent had already transferred all his shares to his children, X, Y and Z. It is admitted that the transfer was made gratuitously. B, on the other hand, testified that the P250,000 borrowed by the decedent from her had been invested in the company. Can the transfer be rescinded on the ground of fraud?
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