Amy is a creditor of Bia. In order to escape the liability to Amy, Bia sells all his property to Cathy. May Amy ask for rescission of the contract of sale between Bia and Cathy? * Yes even if the right of levy and execution and accion subrogatoria are still available. Yes because creditors are protected in cases of contracts intended to defraud them. No because Amy is not a party to the contract. No because Amy has no right of rescission.
Amy is a creditor of Bia. In order to escape the liability to Amy, Bia sells all his property to Cathy. May Amy ask for rescission of the contract of sale between Bia and Cathy? * Yes even if the right of levy and execution and accion subrogatoria are still available. Yes because creditors are protected in cases of contracts intended to defraud them. No because Amy is not a party to the contract. No because Amy has no right of rescission.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Amy is a creditor of Bia. In order to escape the liability to Amy, Bia sells all his property to Cathy. May Amy ask for rescission of the contract of sale between Bia and Cathy? *
Yes even if the right of levy and execution and accion subrogatoria are still available.
Yes because creditors are protected in cases of contracts intended to defraud them.
No because Amy is not a party to the contract.
No because Amy has no right of rescission.
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