Obligations With A Period Flashcards
What is a suspensive and resolutory period of an obligation with a period?
Under Article 1193, an obligation with a suspensive period is an obligation whose fulfillment a day certain has been fixed, and is only demandable when that day comes.
An obligation with a resolutory period is an obligation that takes effect at once, but terminates upon the arrival of the day certain.
What is the meaning of “a day certain”?
Is it considered an obligation with a period if the condition is whether the day will come or not?
A day certain is understood to be a date which must necessarily come, but it is not known when.
If the condition of the obligation is whether the day will come or not, it is a conditional obligation.
The period designated is established to be for the benefit of?
According to Article 1196, generally, a period is presumed to have been established for the benefit of both the creditor and the debtor.
Exception to this rule is when it appears that the period is established in favor of one or the other.
