Question

Mr. Abella owes Mr. Divinagracia the following obligations. (1) P100 due at the end of 10 years.(2) P200 due at the end of 5 years with accumulated from to-day at 5% semi-annually.(3) P300 due at the end of 4 years with accumulated interest from to-day at 4% compounded annually,Mr. Abella will be allowed to discharge his obligations by two equal payments at the ends of the 3rd and 6th years. Divinagracia admits that money is worth 6% compounded semi-annually, what would be Mr. Abella's equal payments?

Answer 1

• In the landmark case of Wheat v Lacons the House of Lords laid down a duty of care to be exercised by the occupier of a premise towards his invitees and visitors. The case was decided as per the definition of occupier in the Occupiers Liability Act of 1957.
• In this case, the visitors were referred to as persons who were either entrants as of right or by contractual obligation or lawfully present or ones present unlawfully but are making preparations to leave after being aware of being unlawfully present in the premises. A trespasser is not included in this definition. In another landmark case of Revill v Newberry it was held that a trespasser (not invited to the premise expressly) cannot sue the occupier for any damage or loss caused to him. In the present instance, the notice is sufficient to declare entrants into the farm as trespassers.