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Question - Alden would like to purchase a piece of land from James. They entered into an agreement where the former would pay the latter the amount of P350,000 as initial payment for the total purchase price of P 3,000,000. They agreed that James will deliver the property to Alden when he has paid the full amount.
Required -
1. When will the property's ownership be transferred to Alden? Explain fully.
2. What kind of contract is present based on the set of facts? Explain fully.
3. How much is the total amount that should be paid to James? Explain fully.
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