John sold his 2nd-hand car to Marie for P200,000. They agreed that John will pay...
90.2K
Verified Solution
Link Copied!
Question
Accounting
John sold his 2nd-hand car to Marie for P200,000. They agreed that John will pay half of the purchase price, or P100,000, upon delivery of the said car to Marie, and the balance of P100,000 shall be paid in five (5) equal monthly installments of P20,000 each. The car was delivered to Marie, and she paid P100,000 to John. Shortly thereafter, the car was stolen from Maries garage without her fault and was never recovered. Is Marie still legally bound to pay John the unpaid balance of P100,000? Explain your answer.
Please include the applicable articles.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.