Mr. Debtor owes Mr. Creditor as follows: ₱10, 000 due February 5; ₱10, 000 due March 5 and ₱10, 000 due April 5, all during the current year. Mr. Debtor has only ₱10, 000 and cannot pay all his obligations. If Mr. Debtor decides to pay ₱10, 000, the amount shall apply:
A) To the debt chosen by Mr. Creditor.
B) To the debt chosen by Mr. Debtor.
C) To the debt due on February 5 being the oldest debt.
D) To the debt due on April 5 if it is an interesting obligation.
Correct Answer:
Verified
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