Determine what kind of defective contracts (A. Rescissible, B. Voidable, C. Unenforceable , D. Void or Inexistent) are the following: 1. Contract of sale of “shabu”. 2. Contract to manipulate the result of the election through hacking.  3. Contract of sale between husband and wife.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Determine what kind of defective contracts (A. Rescissible, B. Voidable, C. Unenforceable , D. Void or Inexistent) are the following:

1. Contract of sale of “shabu”.

2. Contract to manipulate the result of the election through hacking. 

3. Contract of sale between husband and wife.

4. A simulated real estate mortgage. 

5. A contract whereby X agreed to be the mistress of Y for P30,000.00 monthly allowance. 

6. A contract whereby the debtor agreed to work for the creditor for free as long as the debtor has not paid his debt.

7. A lease contract where it is stipulated that the lessor can forcibly evict the lessee for non-payment of rent. 

8. A contract of sale of the seller’s future inheritance from his parents. 

9. A contract whose cause or object did not exist at the time of the transaction.

10. A contract of sale of a slightly used human brain.

11. A contract of barter or exchange of a human heart for a human liver. 

12. A contract whereby the City of Baguio donated Bakakeng Road to SLU. 

13. A contract whereby A will kill B’s mother-in-law in exchange for two-piece Jollibee Chicken Joy with fries.

14. A contract between a 16 years old and a 17 years old. 

15. A contract between a 16 years old and an insane or demented person. 

16. A contract between a 17 years old and a deaf-mute who does not know how to write. 

17. A contract whereby A, without authority, borrowed money for and in the name of B.

18. A gave B the authority to lease his house and lot to C. But B instead sold the house and lot to C. The sale is: 

19. An oral contract that by its terms is not to be performed within a year from its making.

20. An oral promise to pay answer for the debt of another. 

 

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