Assignment 5-ACC PDF

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KAYLAH MAE B. TAPADO SEC. 20ATTY. PRETTY CELIZ ASSIGNMENT 5 D borrowed P30,000 from C. To secure the debt, D pledged his ring, wristwatch, and necklace. Before the debt could be paid, C died leaving X, Y and Z as heirs. By agreement among the heirs who inherited the credit, the ring would secure the...

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KAYLAH MAE B. TAPADO

SEC. 20

ATTY. PRETTY CELIZ

ASSIGNMENT 5

1. D borrowed P30,000.00 from C. To secure the debt, D pledged his ring, wristwatch, and necklace. Before the debt could be paid, C died leaving X, Y and Z as heirs. By agreement among the heirs who inherited the credit, the ring would secure the share of X of the credit, the wristwatch the share of Y, a necklace the share of Z. Later, D pays X P10,000.00. Can D demand the extinguishment of the pledge of the ring? -

No, D cannot demand the extinguishment of the pledge of the ring not unless the shares of X, Y and Z are settled. This is in accordance with Article 2089, a pledge or mortgage is indivisible, even though the debt may be divided among the successors in interest of the debtor or of the creditor. Therefore, the debtor's heir who has paid a part of the debt cannot ask for the proportionate extinguishment of the pledge or mortgage as long as the debt is not completely satisfied. Neither can the creditor's heir who received his share of the debt return the pledge or cancel the mortgage, to the prejudice of the other heirs who have not been paid.

2. X, at Y’s request, executed a Real Estate Mortgage (REM) on his (X’s) land to secure Y's loan from Z. Z successfully foreclosed the REM when Y defaulted on the loan but half of Y's obligation remained unpaid. May Z sue X to enforce his right to the deficiency? -

No, because X is not the debtor of Z. X is not accountable for any deficit in the lack of a contrary stipulation. The remedy of X is to ensue against Y. As stated in Article 2129, the creditor may claim from a third person in possession of the mortgaged property, the payment of the part of the credit secured by the property which said third person possesses, in the terms and with the formalities which the law establishes.

3. A shops at supermarket, buys groceries worth P1,000, and pays with an unfunded check and goes home with the groceries. The check is dishonored for lack of funds. Is there estafa? -

Yes, because A issued an unfunded check for the groceries worth of P1,000 which is dishonored for the lack of funds. According to Article 315 of Revised Penal Code, By postdating a check, or issuing a checkin payment of an obligation when the offender had no funds in the bank, or his funds deposited were not sufficient to cover the amount of the

check. The failure of the drawer to cover his check within three days from receipt of notice from the bank and/or the payee or holder that said check has been dishonored for lack or insufficiency of funds shall be prima facie evidence of deceit constituting false pretense or fraudulent act.

4. Please refer to number 3, if the grocer, knowing A, allows him to pay on a later date, granting then only credit on the goods, and after a few day, A pays with a check that eventually bounces. Is there estafa? -

Yes, because A paid a bouncing check. In line with Amending Article 315 of Revised Penal Code, WHEREAS, reports received of late indicate an upsurge of estafa (swindling) cases committed by means of bouncing checks....