A made a donation to B. Later, A contracted several debts. What A has left as assets are much less than his present liabilities. May the donation be rescinded? a. No, donation is valid. b. Yes, because the assets left are much less compared to his liabilities. c. No, there are sufficient assets to pay debts d. No, assets left are no important.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
A made a donation to B. Later, A contracted several debts. What A has left as assets are much less than his present liabilities. May the donation be rescinded?
a. No, donation is valid.
b. Yes, because the assets left are much less compared to his liabilities.
c. No, there are sufficient assets to pay debts
d. No, assets left are no important.
2. X sold his house valued at P500,000.00 for only P300,000.00 because X did not know the true value of his house. Is the sale rescissible?
a. No, the sale is valid. Amount of consideration is immaterial. There are no other facts stated if X has debts.
b. Yes, the amount of sale is lower than the market value.
c. Yes, X failed to pay first his debts.
d. Yes, the sale is rescissible because it is made in fraud of creditors.
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