OBLICON M4

Question 1

Principal modes

Answer 1

1. Payment or performance;
2. Loss of the thing due;
3. Condonation or remission of debt;
4. Confusion or merger;
5. Compensation;
6. Novation

Question 2

Other Modes

Answer 2

7. Annulment;
8. Rescission;
9. Fulfillment of a resolutory condition;
10. Prescription

Question 3

Other causes not expressly mentioned

Answer 3

11. Death – in obligations which are of purely personal character;
12. Arrival of resolutory period;
13. Mutual dissent;
14. Change of civil status;
15. Happening of unforeseen events.

Question 4

is the fulfillment of the obligation by the realization of the purposes for which it was
constituted

Answer 4

PAYMENT OR PERFORMANCE

Question 5

may consist not only in the delivery of money but also the giving of a thing (other
than money), the doing of an act, or not doing of an act

Answer 5

PAYMENT OR PERFORMANCE

Question 6

Characteristics of payment

Answer 6

Integrity
Identity
Indivisibility

Question 7

The payment of the obligation must be completely made;

Answer 7

Integrity

Question 8

The payment of the obligation must consist the performance of the very thing due;

Answer 8

Identity

Question 9

The payment of the obligation must be in its entirety.

Answer 9

Indivisibility

Question 10

Requisites of a valid payment

Answer 10

1. The person who pays the debt must be the debtor;
2. The person to whom payment is made must be the creditor;
3. The thing to be paid or to be delivered must be the precise thing or the thing required to be
   delivered by the creditor;
4. The manner (if expressly agreed upon), time, and place of payment, etc.; and
5. Acceptance by the creditor.

Question 11

Person who pays

Answer 11

Debtor himself;
His heirs and assigns;
His agents and representatives; or
Third persons who have a material interest in the fulfilment of the obligation

Question 12

The delivery and transmission of ownership of a thing by the debtor to the creditor as an
accepted equivalent of the performance of the obligation. The property given may consist not
only of a thing but also of a real right (Tolentino,

Answer 12

DATION IN PAYMENT (DACION EN PAGO)

Question 13

2 FORM OF PAYMENT

Answer 13

Payment in cash
Payment in check or other negotiable instrument

Question 14

all monetary obligations shall be settled in Philippine currency. However,
the parties may agree that the obligation be settled in another currency at the time of
payment

Answer 14

Payment in cash

Question 15

not considered payment, they are not
considered legal tender and may be refused by the creditor except when:

Answer 15

Payment in check or other negotiable instrument

Question 16

such currency which in a given jurisdiction can be used for the payment of
debts, public and private, and which cannot be refused by the creditor

Answer 16

Legal tender

Question 17

covers all notes and coins issued by the Bangko Sentral ng Pilipinas and
guaranteed by the Republic of the Philippines. The

Answer 17

Legal tender

Question 18

contemplated here is the abandonment of the universality of the
property of the debtor for the benefit of his creditors in order that such property may be applied to
the payment of the credits.

Answer 18

assignment or cession

Question 19

The initiative comes from the debtor, but it must be accepted by the creditors in order to become
effective. A voluntary assignment cannot be imposed upon a creditor who is not willing to accept it.

Answer 19

assignment or cession

Question 20

If the offer is not accepted by the creditors, the same end may be attained by a proceeding in
insolvency instituted in accordance with Insolvency Law.

Answer 20

assignment or cession

Question 21

Loss here is not contemplated in its strict and legal meaning and is not limited to obligations to give,
but extends to those which are personal, embracing therefore all causes which may render
impossible the performance of the prestation. In some Codes, this is designated as impossibility of
performance.

Answer 21

LOSS OF THE THING DUE

Question 21

Act of depositing the object of the obligation with the court or competent authority after the
creditor has unjustifiably refused to accept the same or is not in a position to accept it due to
certain reasons or circumstances

Answer 21

Consignation

Question 22

A principle in international law which means that an agreement is valid only if the same conditions
prevailing at the time of contracting continues to exist at the time of performance. It is the basis of
the principle of unforeseen difficulty of service (NCC,

Answer 22

Rebus sic stantibus

Question 23

An act of liberality by virtue of which the creditor, without receiving any price or equivalent,
renounces the enforcement of the obligation, as a result of which it is extinguished in its entirety or
in that part or aspect of the same to which the condonation or remission refers

Answer 23

CONDONATION OR REMISSION OF DEBT

Question 24

There is a confusion when there is a meeting in one person of the qualities of a creditor and debtor of the same obligation (4

Answer 24

CONFUSION OR MERGER OF RIGHTS

Question 25

It is a mode of extinguishing obligations that take place when two persons, in their own right, are creditors and debtors of each other

Answer 25

COMPENSATION

Question 26

It is the offsetting of the respective obligation of two persons who stand as principal creditors and debtors of each other, with the effect of extinguishing their obligations to their concurrent amount.

Answer 26

COMPENSATION