D borrowed P20,000.00 from C. The debt, which bears interest at 10% per annum, is due after one year. On due date, D paid C P20,000.00 representing the principal, but by that time C had already become insane. Later, G, the guardian of C, demanded payment from D but D presented a receipt issued by C acknowledging the payment. Upon investigation, G discovered that P8,000.00 was still in C’s possession; P9,000.00 was spent by C for groceries as evidenced by the receipt of Esem Supermarket; and P3,000.00 was admitted by C to have been lost by him in a gambling game. G may demand payment from D in the amount of:1 pointP14,000.00, representing the interest, the gambling loss, and the cost of groceries.P22,000.00, the total debt because payment to an incapacitated creditor is not valid.P5,000.00, representing the interest and the gambling loss.P2,000.00, representing the interest.

D owed C the following debts: P12,000.00 due on May 1; P12,000.00 due on May 5; P12,000.00 due on May 15 (secured by a pledge of D’s ring); and P12,000.00 due on May 25. On May 22, D wanted to tender payment to C but he had only P12,000.00. As of such date, none of the debts had been paid. In this case, D may apply the payment to:1 pointTo any of the debts due on May 1, May 5 and May 15, since they have all become due as of May 22.Any of the four debts since each one is of the same amount of the payment.All debts proportionately at P3,000.00.Only to the debt due on May 15 since it is the most onerous debt to D.

On May 1, 2018, D borrowed P100,000.00 from C. The loan is payable on or before April 30, 2019 and bears interest at 12% per annum. Which of the following statements is incorrect?1 pointD may pay before April 30, 2019.C may demand payment on April 30, 2019.D may pay on April 30, 2019.C may demand payment before April 30, 2019.

A shopkeeper with an overdraft facility at 18 percent with a bank borrowed ` 15000 on Jan 8, 2011 and returned the money on June 3, 2011 so as to clear the debt. The amount that he paid was

The borrower in commodatum is entitled to fruits of the thing borrowed or loaned even without a stipulation to that effect1 pointTrueFalse

Nithin borrowed some money at the rate of 6% p.a. for the first three years, 9% p.a. for the next five years and 13% p.a. for the period beyond eight years. If the total interest paid by him at the end of eleven years is 8,160, the money borrowed by him was?