Contract shall then be diminished and both parties will have to bear their own

Contract shall then be diminished and both parties

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obligation followed by another, indeterminate first infractor. Contract shall then be diminished and both parties will have to bear their own damages SECTION 2. – Obligations with a Period Art. 1193. Obligations for whose fulfillment a day certain has been fixed, shall be demandable only when that day comes. Obligations with a resolutory period take effect at once but terminate upon arrival of the day certain. A day certain is understood to be that which must necessarily come, although it may not be known when. If the uncertainty consists in whether the day will come or not, the obligation is conditional, and it shall be regulated by the rules of the preceding Section. (1125a) Obligations with a suspensive period shall be demandable only when the period comes.
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Example : I’ll give you a scooter on Dec. 10, 2005. The Scooter is demandable on Dec. 10, 2005. Obligations with a resolutory period is demandable at once but will terminate upon arrival of the period . Example : I’ll give a Scooter until much 20,2005. The demandable at once but will terminate after March 20, 2005. Art. 1194. In case of loss, deterioration or improvement of the thing before the arrival of the day certain, the rules in Article 1189 shall be observed. Art. 1195. Anything paid or delivered before the arrival of the period, the obligor being unaware of the period or believing that the obligation has become due and demandable, may be recovered, with the fruits and interests. (1126a) Art. 1196. Whenever in an obligation a period is designated, it is presumed to have been established for the benefit of both the creditor and the debtor, unless from the tenor of the same or other circumstances it should appear that the period has been established in favor of one or of the other. (1127) Example(case) Kwada VS. Togo: This case was a contract in the delivery of logs before the end of July 1951 but not earlier than April of same year as an option depending on availability of logs and vessels between Togo Works and Gula Shipping. The failure of the appellant to send vessels to Dilo, Sammy was because of the storm that swept away all the log on May 4, 1961. Under contract the delivery period of date was accomplished and that have been agreed to avoid the storm. Togo sued Kwada to bear all loss as a result of typhoon Art. 1197. If the obligation does not fix a period, but from its nature and the circumstances it can be inferred that a period was intended, the courts may fix the duration thereof. The courts shall also fix the duration of the period when it depends upon the will of the debtor. In every case, the courts shall determine such period as may under the circumstances have been probably contemplated by the parties. Once fixed by the courts, the period cannot be changed by them. (1128a) Example: No breach or violation is committed before period for fulfillment of obligation is fixed by the court.
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Art. 1198. The debtor shall lose every right to make use of the period: (1) When after the obligation has been contracted, he becomes insolvent, unless he gives a guaranty or security for the debt; (2) When he does not furnish to the creditor the guaranties or securities which he has promised;
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