Midterm Review Flashcards
Confusion or merger is the meeting in one person of the characters of creditor and debtor with respect to the same obligation.
(T or F)
T
Payment means not only the delivery of money but also the performance, in any other manner, of an obligation.
(T or F)
T
Dation in payment is the conveyance of ownership of a thing as an accepted equivalent of performance.
(T or F)
T
It is provided by law that if the debt produces interest, payment of the interest shall be made first before the principal.
(T or F)
T
When the existence of a debt is admitted by the debtor or established by the evidence of the creditor, the burden of proving extinguishment by payment devolves upon the debtor who claims payment.
(T or F)
T
As a general rule, the creditor can be compelled partially to receive the prestations in which the obligation consists.
(T or F)
F
Promissory notes, checks, and bills of exchange are considered legal tender.
(T or F)
F
There being no express stipulation and if the undertaking is to deliver a determinate thing, the payment shall be made at the place of the creditor.
(T or F)
F
In consignation, the debtor does not need a valid prior payment to the creditor. Debtor can just automatically consign the thing or sum due to the proper court.
(T or F)
F
The expenses of consignation, when properly made, shall be charged against the creditor.
(T or F)
T
Give the three requisites that should be present in order that an obligation may be extinguished by the loss of the thing. (3 points)
(ENUMERATION)
(1) The obligation is to deliver a specific or determinate;
(2) The loss of the thing due occurs without the fault of the debtor; and
(3) The debtor is not guilty of delay.
What are the Five (5) requisites of condonation or remission. (5 points)
(ENUMERATION)
(1) It must be gratuitous;
(2) It must be accepted by the obligor;
(3) The parties must have capacity;
(4)It must not be inofficious; and
(5) If made expressly; it must comply with the forms of donations.
What are the three (3) kinds of solidarity according to the parties bound. (3 points)
(ENUMERATION)
(1) Passive Solidarity
(2) Active Solidarity
(3) Mixed Solidarity
Define Compensation as a mode of extinguishment of obligations. (4 points)
Compensation is the extinguishment to the concurrent amount of the debts of two persons who, in their own right, are debtors and creditors of each other. (Arts. 1278, 1290.)
It involves the simultaneous balancing of two obligations in order to extinguish them to the extent in which the amount of one is covered by that of the other. (8 Manresa 401.)
What is novation? (2 points)
Novation is the total or partial extinction of an obligation through the creation of a new one which substitutes it.
It is the substitution or change of an obligation by another, which extinguishes or modifies the first, either by changing its object or principal conditions, or by substituting another in place of the debtor, or by subrogating a third person in the rights of the creditor.
