P2 Flashcards
This obligation where there is only one debtor and only one creditor
Individual obligation
Obligation where in there are two or more debtors and/or two or more creditors
Collective Obligation
Types of collective obligation
Joint
Solidary
Obligation where the whole obligation is to be paid or fulfilled proportionately by the different debtors and/or demanded proportionately by different creditors
Joint Obligation
Obligation only pay your share and in favor in debtor
Joint Obligation
Obligation where each one of the debtors is bound to render, and/or each one of the creditors has a right to demand from any of the debtors, entire compliance with the prestation
Solidary Obligation
One debtor obliges to pay the entire obligation if the creditor demands it.
Solidary obligation
Type of collective obligation wherein its in favor in creditor
Solidary Obligation
What type of collective obligation if the contract didn’t disclose what type of obligation is the contract?
Joint Obli
Mancomumada
Joint Lia
Mancomumada
Joint Lia
Mancomunadamente
Joint lia
Proportionately
Joint lia
Pro rata
Joint lia
“we promise to pay” signed by 2 or more persons
Joint lia
Jointly and/or severally
Solidary lia
Solidaria
Solidary lia
In solidum
Solidary lia
Together and/or separately
Solidary lia
Individually and/or collectively
Solidary lia
Juntos o separadamente
Solidary lia
“i promise to pay” signed by two or more person
Solidary lia
One of the solidary creditors collected the debt. This a useful act because it will benefit the other creditors
Useful act
One of the object which, in its delivery or performance, is capable of partial fulfillment
Divisible obli
Can be delivered partial or whole
Divisible obli
One of the object of which, in its delivery or performance, is not capable of partial fulfillment
Indivisible obli
Kinds of division
Qualitative division
Quantitative division
Ideal or intellectual division
Based on quality of things which are the object of obli
Qualitative division
Based on quantity of things which are the object of obli
Quantitative division
Division exist only in minds of the partners
Ideal or intellectual division
Kinds if indivisibility
Legal
Conventional
Natural
Law declares it is indivisible
Legal indivisible
Where the will of the parties makes as indivisible
Conventional indivisible
When the nature of the object or prestation does not admit of division
Natural indivisibility
An accessory contract or undertaking attached to an obligation to assume greater liability is case of breach of principal contract
Penal clause
An accessory contract or undertaking attached to an obligation to assume greater liability is case of breach of principal contract
Penal clause
One which can stand by itself and does not depend for its validity and existence upon another obligation
Principal obligation
Which is attached to a principal obligation and cannot stand alone
Accessory obligation
Kinds of penal clause as to purpose
Compensatory
Punitive
When penalty takes the place of damages or money
Compensatory
When penalty takes the place of damages or money
Compensatory
The penalty is imposed merely as a punishment of breach
Punitive
Person from whom the creditor must accept payment
Debtor
Person who has interest in the obli
3rd person has no interest in obli but has agreement that makes the payment
Where the 3rd person acquires not only the right to be reimbursed for what he has paid but also other rights which the creditor could have exercised pertaining to the credit
Subrogation
3rd person may recover from the debtor only insofar as the payment has been beneficial to the debtor
Payment without knowledge or against the will of the debtor
3rd person shall have the right of reimbursement and subrogation
Payment made with consent of the debtor
Special forms of payment
Dation in payment
Application of payment
Payment by cession
Tender of payment and consignation
