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1. the owners of a real property located at bluehills borrowed P2,500,000.00 from janet to help finance the campaign of Johnny who is one of the owners. The property had a value of P10, 000,000.00 the mortgagee was able to transfer the property under his name. he then sold it to delfin. The mortgagors filed a suit to nullify the sale to janet contending the sale was a mere equitable mortgage. Delfin contented that he is a buyer in good faith and for value as he relied merely uponn the face of title of janet, is the contract an equitable mortgage? Explain.
2. DEF borrowed P500 from GHI. As security of the payment of the debt, the former pledge to the latter a diamond ring valued at P2, 000.00. It was expressly stipulated in the contract that if DEF cannot pay his debt when it matures, “the debt of P500 shall be considered as full payment of the diamond ring without further action. “DEF was unable to pay when the debt matured can GHI now appropriate the ring? Justify your answer
3.ABC obtains a loan of P500,000.00 from BCD and delivers the latter a piece of coconut land as security for the payment of the loan. In the dead executed, ABC agreed that BCD would avail of the fruits of the land during the time that the loan remains unpaid, without saying that the value of said fruits should applied to the interest or the capital of the loan. State the nature of the contract between the parties. Give your reasons.
4. Gove at least five examples of pledges created by operation of law.
5. To secure a loan obtained from a rural bank, Ellen assigned her leasehold rights over a stall in the public market in favor of the bank. The deed of assignment states that in case of default in the payment of the loan, the bank shall have the right to sell Ellen rights over the market stall as her attorney – in –fact, and to apply the proceeds to the payment of the loan. Is there a mortgage?
2. DEF borrowed P500 from GHI. As security of the payment of the debt, the former pledge to the latter a diamond ring valued at P2, 000.00. It was expressly stipulated in the contract that if DEF cannot pay his debt when it matures, “the debt of P500 shall be considered as full payment of the diamond ring without further action. “DEF was unable to pay when the debt matured can GHI now appropriate the ring? Justify your answer
3.ABC obtains a loan of P500,000.00 from BCD and delivers the latter a piece of coconut land as security for the payment of the loan. In the dead executed, ABC agreed that BCD would avail of the fruits of the land during the time that the loan remains unpaid, without saying that the value of said fruits should applied to the interest or the capital of the loan. State the nature of the contract between the parties. Give your reasons.
4. Gove at least five examples of pledges created by operation of law.
5. To secure a loan obtained from a rural bank, Ellen assigned her leasehold rights over a stall in the public market in favor of the bank. The deed of assignment states that in case of default in the payment of the loan, the bank shall have the right to sell Ellen rights over the market stall as her attorney – in –fact, and to apply the proceeds to the payment of the loan. Is there a mortgage?
