Is there a contract between and B? Explain your answer. Q2. When B subsequently demanded payment from A, the latter refused to pay. Can B bring an action against A for non-fulfillment of his contractual obligation?

Is there a contract between and B? Explain your answer. Q2. When B subsequently demanded payment from A, the latter refused to pay. Can B bring an action against A for non-fulfillment of his contractual obligation?

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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Question

1.] A entered into a verbal agreement with B whereby A will pay B 1 Million Pesos if the latter will burn the house of X. B succeeded in burning the house of X. Q1. Is there a contract between and B? Explain your answer. Q2. When B subsequently demanded payment from A, the latter refused to pay. Can B bring an action against A for non-fulfillment of his contractual obligation?

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