Chapter 3 [Section 1 - 2] Flashcards
It is an event which is both future an uncertain upon which the existence or extinguishment of an obligation is made to demand.
Condition
An obligation which does not contain any condition or term upon which the fulfillment is made to depend; immediately demandable by the creditors and the debtor cannot be excused from not complying with his prestation.
Pure Obligation
An obligation to a condition.
Conditional Obligation
Two principal kinds of obligation.
- Suspensive Condition (its fulfillment gives the rise to an obligation)
- Resolutory Obligation (its happening extinguishes the obligation which is already existing)
A future and certain event upon the arrival of which, the obligation subject to either arises or is extinguished.
Period
It refers to the fulfillment of an event or performance of an act.
Positive Condition
It refers to the non-fulfillment or non-performance of an act.
Negative Condition
It arises from same cause; each is a debtor and creditor of the other.
Reciprocal
Resolution or cancellation of the contract.
Rescission
It consists in space or length of time upon the arrival of which, the demandability of the extinguishment of an obligation is determined; a future and certain event.
Period/ Term
What are the two (2) kinds of period or term?
Suspensive period (ex die); Resolutory period (in diem)
The obligation begins only from a day certain upon the arrival of period.
Suspensive period (ex die)
The obligation is valid up to a day certain and terminates upon arrival of the period.
Resolutory period (in diem)
