Finance

CHAPTER 4 EXTINGUISHMENT OF OBLIGATIONS Kinds of evil 1. Physical Loss 2. Legal Loss 3. Civil Loss Extinguishment of Obligations are extinguished: 1. By salary or performance 2. By the loss of the thing of due(p) 3. By remission 4. By novation 5. By confusion 6. By compensation Causes of Extinguishment of Obligations 1. Death of party in case the agreement is a personal one 2. Mutual desistance or withdrawal 3. Arrival of resolutory period 4. Compromise 5. Impossibility of fulfillment 6. accident of fortuitous event Payment- means non only the granty of money barely also the performance, in each other manner, of an arrangement; the bountiful of a thing, the doing of an act, or not doing of an act. Debt- may refer to an certificate of indebtedness 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 prestat ion- 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 dear(p) faith, the obligor may determine as though there had been a strict and masterly fulfillment, less damages suffered by the obligee. (n) 1.

thither must be substantial performance; 2. The obligor must be in good faith Requisites for the application of Article 1235- Art. 1235. When the obligee postulates the performance, shrewd its sketchyness or irregularity, and without expressing any hold out or objection, the ob ligation 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 television channel payment. 3.a If made...If you want to get a full essay, order it on our website: BestEssayCheap.com

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