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Obligation and Contracts Part 4

1. The document discusses different types of obligations including those with a period, indefinite periods, and conditions. 2. An obligation with a period means it must be fulfilled by a certain date, like repaying a loan by August. A condition is an uncertain future event that triggers an obligation, like having to buy a replacement phone if the borrowed one is broken. 3. The creditor can demand payment before the agreed upon period if the debtor is insolvent, fails to provide promised securities, or violates the terms of the agreement, like attempting to abscond without payment.

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Arjay Bautista
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31 views

Obligation and Contracts Part 4

1. The document discusses different types of obligations including those with a period, indefinite periods, and conditions. 2. An obligation with a period means it must be fulfilled by a certain date, like repaying a loan by August. A condition is an uncertain future event that triggers an obligation, like having to buy a replacement phone if the borrowed one is broken. 3. The creditor can demand payment before the agreed upon period if the debtor is insolvent, fails to provide promised securities, or violates the terms of the agreement, like attempting to abscond without payment.

Uploaded by

Arjay Bautista
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Assignment #4:

1. What is an obligation with a period?  Give an example.


An obligation with a period means that there is a specific date or period for a debtor to do his
obligation. Or the obligation has a certain period or term of expiration meaning it was bound to do before
the specific given time.

2. What is a period?  Explain and cite an example.


It is a certain or given time for an obligation to be done. For example, on the month of April, I
borrowed money from my friend and we’ve agreed that I will pay it before the month of August, so I have
three months to pay it (May, June, and July). The given length of time for me to pay my debt is the period
of my obligation.

3. What is a condition?  What are the characteristics of a condition?  Cite an example.


It is an uncertain event that may happen in the future that can be cause for the two parties to be
obligated or performed a duty based on the contract made. A condition is characterized with future and
uncertain and past but unknown. For example, Mr. A has an obligation to Mr. B to buy him a cellphone
because he lost it after borrowing it. On the day that he was on the way on Mr. B’s house, Mr. A was hit
by a car and the new phone was broken. Both parties had no idea that unfortunate event will happen, but
still Mr. A is still liable for Mr. B’s cellphone.

4. What is an indefinite period?  Explain.


Indefinite period means no specified or even estimated time or date. It has no definite or given
time for example, to a person to comply with his obligation or to his duty. For example I let my sister to
borrowed money from me and made her promise to pay me when she already can. I didn’t give her any
period or given time to pay, so she can pay me with indefinite period.

5. Has the debtor the right to recover what he has paid to the creditor before the arrival of the
period agreed upon?  Explain.
Yes. If the debtor has paid to the creditor before the arrival of the period agreed upon, he can still
recover it or he has the right to recover what he has paid. Since the period agreed hasn’t arrived yet and
the debtor has paid early and unexpectedly, he can still recover it but once the period has arrived he can
no longer recover it.

6. If an obligation does not state a period for its performance, has a party the right to ask a
court to fix a period or the duration thereof?  Explain.
No. The court has nothing to do in fixing a period for the two parties. If an obligation does not
state a period for its performance, it means that the two parties haven’t settled a period of time for the
debtor to fulfill his obligation. The court has no right to make or decide a contract for the both parties.

7. Give the cases when the obligee can demand the performance of an obligation even before
the arrival of the period agreed upon.
 When the debtor is insolvent – He cannot or unable to pay his debts as they mature.
 When the debtor does not furnish guaranties or securities promised – He fails to deliver or give
what he promised in the agreement.
 When guaranties or securities given have been impaired or have disappeared – If the guaranties
have been damaged and lost by the debtor, the obligation also becomes demandable.
 When the debtor violates an undertaking – If he made an action contrary to the agreement or
contract.
 When the debtor attempts to abscond – If the debtor run away or escape his obligation.

8. Mr. D borrowed P10,000 from Mr. C at 15% interest per annum payable on December 31,
2020.  Can Mr. D (the debtor) require Mr. C (the creditor) to accept payment before
December 31, 2020? Explain your answer.
Yes, as long as that Mr. D pays the money together with interest, within the window that Mr. C
gave. Mr. C will not complain and will humbly accept the payment. Mr. D can give down payment or
pay the full debt even before the set period of time.
 
9. Mr. D binds himself to give P10,000 to Mr. C upon the death of the father of Mr. D.   Is the
obligation of Mr. D conditional or one with a period?  Explain your answer.
The obligation of Mr. D is conditional since the death of his father is unforeseeable. It is Mr. D’s
father’s obligation but unfortunately he died and the obligation was passed to his son.

10. Mr. D obtained a loan from Mr.  C in the amount of P50,000, payable on September 15,
2020.  As security for his debt, Mr. D mortgaged his car in favor of Mr. C.   The car,
however, was substantially damaged without the fault of Mr. D.  What rights, if any, does
Mr C have under the law?  May Mr. C demand payment from Mr. D even before
September 15, 2020?  Explain. 
Mr. C must receive payment since Mr. D has obtained a loan from him. It is Mr. C’s right to
collect payment from Mr. D. Mr. C, as an obligee, can demand payment from Mr. D even before the
agreed period if the debtor has violated their agreement, tried to run away from him and if he’s insolvent.

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