Mr. S obliged himself to deliver to Mr. B 50 sacks of sugar for P20,000. Mr. S was not able to comply with his undertaking. Mr. B was now forced to find a new seller of sugar. Mr. B was able to buy 50 sacks of sugar from Mr. T for P20,000 also. Is Mr. S still liable?

Mr. S obliged himself to deliver to Mr. B 50 sacks of sugar for P20,000. Mr. S was not able to comply with his undertaking. Mr. B was now forced to find a new seller of sugar. Mr. B was able to buy 50 sacks of sugar from Mr. T for P20,000 also. Is Mr. S still liable?

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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