Civil Law, 2011 Bar — Question 85

MULTIPLE CHOICE

X borrowed money from a bank, secured by a mortgage on the land of Y, his close friend. When the loan matured, Y offered to pay the bank but it refused since Y was not the borrower. Is the bank's action correct? A) Yes, since X, the true borrower, did not give his consent to Y's offer to pay. B) No, since anybody can discharge X's obligation to his benefit. C) No, since Y, the owner of the collateral, has an interest in the payment of the obligation. D) Yes, since it was X who has an obligation to the bank.

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