Question

II. HUMAN RELATIONS - C. Thoughtless Extravagance (Civil Code, Art. 25)

Anna, a well-off individual, often indulges in extravagant shopping sprees, purchasing expensive designer clothes, shoes, and accessories without considering the consequences. Her spending habits have led her to accumulate significant credit card debt and left her struggling financially. One day, Anna decides to sell some of her assets, including a valuable piece of art, to pay off her debts.

In this scenario, analyze the following questions:

1. What is the legal concept of "Thoughtless Extravagance" as stated in Article 25 of the Civil Code of the Philippines?
2. In light of Anna's situation, can her act of selling her valuable piece of art to pay off her debts be considered a valid exercise of her right to dispose of her property? Discuss.
3. If Anna's extravagant spending habits caused harm or damage to other individuals or entities, what legal remedies or actions may be available to the affected parties under the concept of "Thoughtless Extravagance"? Explain.