Extinguishment of obligations – Obligations Law

Obligations are extinguished: 1) By payment or performance: 2) By the loss of the thing due: 3) By the condonation or remission of the debt; 4) By the confusion or merger of the rights of creditor and debtor; 5) By compensation; 6) By novation. (Article 1231, Civil Code) Other causes of extinguishment of obligations, such […]

Kinds of obligations – Obligations Law

1. Pure a. Concept Every obligation whose performance does not depend upon a future or uncertain event, or upon a past event unknown to the parties, is demandable at once.  (Article 1179, Civil Code.) Every obligation which contains a resolutory condition shall also be demandable, without prejudice to the effects of the happening of the […]

General provisions – Obligations Law

1. Concepts An “obligation” – refers to the juridical necessity to give, to do or not to do. (Article 1156, Civil Code) 2. Elements of an obligation The obligation is constituted upon the concurrence of these essential elements: 1) The vinculum juris or juridical tie which is the efficient cause established by the various sources […]