What is the status of the contract

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Reference no: EM133477935

ASSIGNMENT:

1. Rolando orally sold his farmland to Armando for P1,000,000.00. After spending all the money, Rolando filed an ejectment suit (lawsuit) against Armando to recover the land. Will the ejectment suit prosper? Why or why not?

2. Andy loaned P20,000.00 from Benny. Terrence orally promised to assume the obligation of Andy. What is the status of the contract?

3. Joey and James entered into a contract of sale during the New Year's Eve party at their village. Joey, a minor, bought the shoe collection of James who was under the influence of alcohol worth P30,000. Is the contract valid? Why or why not?

4. In the same case in #3, what is the effect of ratification:

a. By either party?

b. By both, after becoming capacitated?

Reference no: EM133477935

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