Obligations+and+Contracts.printable

Novation 7 annulment 8 rescission 9 fulfillment of

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Unformatted text preview: • Execution of certain no of days work Expressed by metrical units Nature of obligation – susceptible of partial fulfillment INDIVISIBLE performance • • • • – one not capable of CHAPTER 4. - EXTINGUISHMENT OF OBLIGATIONS See Arts. 1232 - 1304 MODES OF EXTINGUISHMENT OF OBLIGATION (Art. 1231): 1. Payment or performance 2. Loss of the thing due 3. Condonation or remission of debt 4. Confusion or merger of rights 5. Compensation 6. Novation 7. Annulment 8. Rescission 9. Fulfillment of resolutory condition PAYMENT OR PERFORMANCE - delivery of money and performance, in any other manner of the obligation REQUISITES FOR PAYMENT/PERFORMANCE VALID partial To give definite things Not susceptible of partial performance Provided by law Intention of parties OBLIGATIONS WITH A PENAL CLAUSE (See Arts. 1226 – 1230) WITH PENAL CLAUSE – One to which an accessory undertaking is attached for the purpose of insuring its performance by virtue of which the obligor is bound to pay a stipulated indemnity or perform a stipulated prestation in case of breach CHARACTERISTICS OF PENAL CLAUSES: 1. Subsidiary - As a general rule, only penalty can be demanded, principal cannot be demanded, except: Penalty is joint or cumulative 2. Exclusive - takes place of damage, damage can only be demandedQin the ff. cases: uickTime™ and a TIFF decompresso a. Stipulation(Uncompressed) this right r are– granting picture. needed to see b. Refusal to pay penalty c. With dolo ( not of creditor ) CAUSES FOR REDUCTION OF PENALTY: 1. Partial/irregular performance 2. Penalty provided is iniquitous/ unconscionable 1. With respect to prestation itself a. Identity b. Integrity or completeness c. Indivisibility 2. With respect to parties - must be made by proper party to proper party a. Payor i. Payor - the one performing, he can be the debtor himself or his heirs or assigns or his agent, or anyone interested in the fulfillment of the obligation; can be anyone as long as it is with the creditor's consent RD ii. 3 person pays/performs - on...
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