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D borrowed P100,000 from C with a 20% penalty if not paid on time. On the due date, D paid C the full borrowed amount of P100,000. According to the terms, D should pay C P100,000 + 20% penalty since payment was made on the due date to avoid further penalties and interest. Dave promised to pay Carlo P20,000 on September 15, 2007 in a written contract. However, the consideration received by Dave is not stated in the contract. The contract is still valid because consideration does not need to be stated for a contract to be enforceable, as long as it is in writing. Phil orally appointed Aldo as his agent to sell his

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240 views1 page

Law

D borrowed P100,000 from C with a 20% penalty if not paid on time. On the due date, D paid C the full borrowed amount of P100,000. According to the terms, D should pay C P100,000 + 20% penalty since payment was made on the due date to avoid further penalties and interest. Dave promised to pay Carlo P20,000 on September 15, 2007 in a written contract. However, the consideration received by Dave is not stated in the contract. The contract is still valid because consideration does not need to be stated for a contract to be enforceable, as long as it is in writing. Phil orally appointed Aldo as his agent to sell his

Uploaded by

Rhap Sody
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1. D borrowed from C P100,000 with a penalty of 20% if not paid on time.

On due date, D was able to


pay C the borrowed amount. How much should D pay C?
a. P100,000 only
b. P100,000 + 20%
c. P100,000 + 20% + interest
d. P100,000 + 20% + interest + damages

2. In a contract, as written, Dave promises to pay Carlo P20,000 on September 15, 2007. The
consideration received by Dave is not stated in the contract:
a. The contract is valid because the cause is always presumed to exist.
b. The contract is valid so long as it is in writing.
c. The contract is valid because cause is not essential to a contract.
d. The contract is void because the cause is not stated.

3. Phil appointed Aldo as his agent orally to sell his parcel of land for P100,000. Five days after, Aldo
sold to Bert the parcel of land for P80,000 by means of public instrument executed between Aldo and
Bert. What is the effect and the status of sale between Aldo and Bert?
a. The sale is valid because it was executed in a public instrument.
b. The sale is unenforceable because the agent acted beyond the scope of his authority for selling
the land less than the price instructed.
c. The sale is void because the appointment of the agent is oral.
d. The sale can be ratified although the appointment of Aldo is oral, because the sale by Aldo to
Bert is in a public instrument.

2. A contract that allows one of the party( suffered party) to withdraw from the contract.A.

Void contract
Voidable contract

A written contract that has legal documentation and the seal( stamp) of the company.

Formal contract
In formal contract

5.

Implied contracts are neither written nor oral contracts.

A. True

B. False

To be legally enforceable, contracts must be in writing.

A. True

B. False

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