Chapter 3 Obligations With A Period Flashcards
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.
1193
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.
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.
1194
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.
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.
1195
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.
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.
1196
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.
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.
1197
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.
period designated by the court
Judicial period
period fixed by the parties in their
contract.
Contractual period
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;
(3) When by his own acts he has impaired said
guaranties or securities after their establishment, and
when through a fortuitous event they disappear, unless
he immediately gives new ones equally satisfactory;
(4) When the debtor violates any undertaking, in
consideration of which the creditor agreed to the
period;
(5) When the debtor attempts to abscond.
1198
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;
(3) When by his own acts he has impaired said
guaranties or securities after their establishment, and
when through a fortuitous event they disappear, unless
he immediately gives new ones equally satisfactory;
(4) When the debtor violates any undertaking, in
consideration of which the creditor agreed to the
period;
(5) When the debtor attempts to abscond.
