The lot of M is located near the market of Purok 2. M was in need of money so instead of selling the lot for its full price of P3Million, he sold it for P100,000.00. Is the contract of sale valid? A. Yes. The gross inadequacy of the price does not render the contract invalid. B. Yes. The property is properly located and identified. C. No. M cannot sell a lot for a very low price. It shows that he has no intention to really sell it. D. No. M must first obtain the permission from the Bureau of Internal Revenue if he can sell the property for a very low price.
The lot of M is located near the market of Purok 2. M was in need of money so instead of selling the lot for its full price of P3Million, he sold it for P100,000.00. Is the contract of sale valid? A. Yes. The gross inadequacy of the price does not render the contract invalid. B. Yes. The property is properly located and identified. C. No. M cannot sell a lot for a very low price. It shows that he has no intention to really sell it. D. No. M must first obtain the permission from the Bureau of Internal Revenue if he can sell the property for a very low price.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter13: best-practice Tactics: Game Theory
Section: Chapter Questions
Problem 14E
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The lot of M is located near the market of Purok 2. M was in need of money so instead of selling the lot for its full price of P3Million, he sold it for P100,000.00. Is the contract of sale valid?
A. Yes. The gross inadequacy of the price does not render the contract invalid.
B. Yes. The property is properly located and identified.
C. No. M cannot sell a lot for a very low price. It shows that he has no intention to really sell it.
D. No. M must first obtain the permission from the Bureau of Internal Revenue if he can sell the property for a very low price.
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