CHAPTER 4 EXTINGUISHMENT OF OBLIGATIONS Kinds of deprivation 1. Physical Loss 2. Legal Loss 3. Civil Loss Extinguishment of Obligations are extinguished: 1. By requital or performance 2. By the loss of the thing of cod 3. By remission 4. By novation 5. By confusion 6. By compensation Causes of Extinguishment of Obligations 1. Death of party in case the arrangement is a personal one 2. Mutual desistance or backdown 3. Arrival of resolutory period 4. Compromise 5. Impossibility of fulfillment 6. casualty of fortuitous event Payment- means non only the granty of money scarce also the performance, in each other manner, of an responsibility; the openhanded of a thing, the doing of an act, or not doing of an act. Debt- may refer to an responsibility to deliver money, to deliver a thing, the doing of an act, or not doing of an act. 1. law of prestation 2. Identity of prestation - the precise prestation due must be delivered or performed Requisites for the application of oblige 1234- Art. 1234. If the obligation has been substantially performed in dearly-won faith, the obligor may determine as though there had been a strict and masterly fulfillment, less damages suffered by the obligee. (n) 1.
on that point must be substantial performance; 2. The obligor must be in good faith Requisites for the application of Article 1235- Art. 1235. When the obligee buy outs the performance, keen its sketchyness or irregularity, and without expressing any hold out or objection, the obligati on is deemed fully complied with. 1. ! The obligee knows that the performance is incomplete or irregular and; 2. He accepts the performance without expressing any protest or objection. Persons whom the creditor must accept payment 1. The debtor 2. Any person avocation in the obligation(guarantor) 3. A third person who has no touch on in the obligation when the is stipulation that he can striving payment. 3.a If made...If you want to get a full essay, order it on our website:
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