Conventional or Voluntary Period OBLICON DEFINITIONS Page 2 of 5 Period agreed to by the parties, ‘Conventional Penal Clause Provided for by the Stipulation of the parties ‘Conventional Solidarity is agreed upon by the parties; if nothing is mentioned in the contract, the Solidarity ‘obligation is only joint ‘Conventional (Novation - Subrogation) when it takes place by Express agreement of the original parties ‘Subrogation (the debtor and the original creditor) and the third person (the new creditor) ‘Criminal Neghigence ‘Negligence resulting in the commission of a crime Dation in payment ‘Conveyance of ownershio of a thing as an accepted equivalent of performance Definite Period, Pariod fixed or it is known when it will come. Deflation The reduction in volume and circulation of the available money or credity- esulting in & decline of the general price level: opposite of inflation, Delay or default Failure to perform an obligation cn time which failure conatifites 8 breach of obligation: Delagacion (Novation - Substitution) which takes place when the creditor accepts a third person to. take place of the debtor at the instance of the latter. The cregitar may withold approval. All parties must agree: Delivery or tradition ‘Ownership and other real rights over property are acquired and transmitted in consequence of certain contracts by tradition or delivery. Disjunctive Condition There are several conditions and only one must be fulilled Disputable (or ‘One which can be contradicted or rebutted by presenting proof to the contrary rebuttable) presumption, Distributive Obligation | One or two or more of the prestauons is due (sltomative or facultative) Divisible Condition | The condition is susceptible of partial performance: Divisible Obligation ‘One the object of which, in its delivery or performance, 1s capable of partal fulliment Domicile The place of a person's habitual residence; the place where he has true fixed permanent home and to which place he, whenever he is absent, has the intention of returning Express Condonation Made either verbally o in writing Express Novation ‘So declared in unequivocal terms. Expromision {Novation - Substitution) which takes place when a third person ofhis own initiative and without the knowledge ar against the will of the original debtor assumes the latter's ‘obligation with the consent of the creditorJudicial Period OBLICON DEFINITIONS Page 3 of 5 Poriod fixed by the court Legal Compensation ‘When it takes place by operation of law even without the knowledge of the parties: Legal impossibility ‘Ocaurs when the obligation cannot be performed because itis rendered impossible by provision of law, although physically it may be possible of performance, Tegal indivisiamity Where a specific provision of law declares as indiusible, obligations which, by thelr natura, aro divisible Tegal Loss When a thing goes out of commerce (e.g. when it expropriated) or when a heretofore legal becomes illegal Tegal Novation “Takes place by operation of law Legal Penal Clause | Provided by the law Legal Period Period provided for By laws. Legal Solidarity Where solidarity is imposed by the law Legal Subrogation {Novation - Subrogation) whenit takes place without screement but by operation of law Legal Tender That curency which a debtor can legally compel a creditor to accep in payment of & debt in money when tendered by the debtor in the right amount Tegitime Part of the tastator’s property which he cannot dispose af because the law has reserved Ie for certain heirs, called compulsory heirs Toss “A thing is lost when it perishes, or goes out of commerce, or disappears in such a way that its existence is unknown or it cannot be recovered, Taxed Condition “The-consition depencs partly upon chance and partly upon Fhe will of a third person Mixed novation When the object and/or principal cond tions of the obligation and the debtor or the creditor, or both the parties, are chanced Mixed Solidarity Solidarity on the part of the debtors and creditors, where each one of the debtorsis liable to render, and eacn one of the craditars has a right to demand, entire campliance with the obligation Mora Accipiendi Delay on the part of the creditor to accept the performance of the obligation Mora Solvendi Delay on the part of the debtor to fulfil his obligation Natural fruits ‘Spontaneous products of the soll, and the young and other products of animals, Natural IndiiGiblity Where the nature of the object or prastation doe: not admit of division, e.g. to give S particular car, to sing a song, etc. Negligence Voluntary act or omission, there being no malice, which prevents the normal fulfilment oF an obligationUnilateral Obligation OBLICON DEFINITIONS Page 5 of 5 When only one party is obliged to comply with a prestation Usury Contracting for or receiving in excess of the amount allowed by law for the loan or use oF money, goods, chattels or cracits Venue, The place where a court suit or action must be filed or instituted Voluntary When it takes place ay the agreement of the parties Compensation ‘wrong 'AN act oF omission of one party in violation Of the lagal ight or ights of another: also, injury. Obligation with a penal clause (One wich contains an accessory undertaking to pay @ previously stipulated indemnity in case of breach ‘Ordinary fortuitous events Those events which are common and which the contracting parties could reasonably foresee Partial Compensation When two obligations are of different amounts ands balance remains Partial Condonation Does not cover the entire obligation Partial or modificatory ovation, When the old abligation is merely modified Passive Soldarity Solidarity on the part of the debtors, where any one of them can be made Fable for the fulfillment of the entire obligation: in the nature of mutual guaranty Payment Consists of rat only in the delivery of money but also the giving of a fing (ather than money), the doing of an act, or not doing of an act; also, parformance. Payment by cession The assignment or abandonment of all the preoperties of the debtor for the benefit of his Creditors in order that the latter may sell the same and apply the proceeds thereof to the satisfaction of their cradits Personal ar subjective Penal Cbuse ‘An accessory undertaking attached to an obligation to assume greater labilty in case of breach, Le., the obligation is not fulfilled, or is partly or ireqularly complied with Period "A future and certain event upon the arrival of which the obligation subject to it either arises or is extinguished [Personal Obligation | | The subject matter i an act to be done or not io be done When the person of the debtor is substituted and/or when a third person is subrogated in ovation the rights of the creditorOBLICON DEFINITIONS Page 4 of 5 Personal Right Right or power ofa person (creditor) to demand from another (debtor), as a definite passive subject, the fulfill ent of the latter's obligation to give, to do or not to do. Enforceable only against a particular person Physical oss, When a thing perishes as when a house is bumed and reduced to ashes Pledge ‘A contract by virtue of which the debtor delivers to the creditor or to a third person @ movable instrument evidencing incorporeal rights for the purpose of securing the fulfillment of 2 principal obligation with the understanding that when the obligation is fulfilled the thing delivered shall be raturned with all its fruits and accessions Potestative Condition The condition depends upon the will of one of the contracting parties Prescription “Acquisition of ownership and other rights through the lapse of time in tha manner and under the conditions laid down by law Presumption The interference of fact not actually known ariding from lis uaual connection with another which is known Principal Obligation ‘One which can stand by Rself and does not depend for ks validity and existence upon another obligation. Punitive Penal Clause ‘When the penalty is imposed merely os punishment for breach Pure Obligation ‘One which is net subject to any condition and no specfic date is mentioned for &3 fulfillment, and is, therefore, immediately demandable Qualkatve Dison ‘One based on quality, not on number or quantity of the Ehings which are the Object GF Ene obligation ‘Quantitative Division ‘One based on quantity rather than on quality ‘Quasi-Contract ‘A juridical relation resulting fram lawful, voluntary and unilateralads by virtue of which the aprties become bound to each other to the end that no one will be unjustly enriched or benefited at the exoense of another. ‘Quast Delict “An act or omission by a person (tort feas@r) which causes damage to another giving Ase to an obligation to pay for the damage done, there being fault or negligence but there is no pre-existing contractual relation between the parties, Real Obigation The subject matterisa thing which the obligor must deliver to the obliges.OBLICON DEFINITIONS Page 1 of 5 Real or objective Wihen the cbject (or cause) or principal conditions of the obligation are changed novation Real Right The ight or terest ofa parson over a Specie thing (like Ownership, POSSeScIOn, mortgage), without a definite passive subject against whom the right may be personally enforced, Directed against the whole world. Real Solidarity Vihere solidarity is imposed by the nature of the obligation Reciprocal Bilateral | Those which arise from the same cause and in which each party is a debtor and @ Obligation creditor of the other, such that the performance of one is designed to be the equivalent land the condition for the parformance of the ather. Residence ‘An clement of domicile; requires bodily presence as an inhabitstnt ma given place Resolutary Condition (Condition ‘One the fulfillment of which will extinguish an obligation (or right) already existing subsequent) Right The power which a person has under the law, to demand from another any prestation, ‘Simple lean oF ‘A contract whereby one of the parties delivers to another, money or other consumable mutuum thing, upon the condition that the same amount of the same kind and quality shall be paid Simple Obligation ‘There is only one prestation Solidary Obligation ‘One where each one of the debtors is bound to render, andlor each one of the creditors has a right to demand from any of the debtors, entire compliance with the prestation Solutio actin The juridical relation which is created when something is received when there is no right to demand it and it was unduly delivered through mistake. Spacific or ‘A thing is said to be specific ar determinate particularly designated or physically Determinate segregated others of the same class. identified by its individuality, ‘Subrogation ‘A kind of novation when a third person is subrogatedin the tights of the creditor Subsidiary oF ‘When only the penalty can be enforced Alternative Penal Clause ‘Substitution: ‘A Kind of novation when the person of the debtor is substituted. ‘Suspensive Condition (Condition precedent oF condition antecedent) ‘One the fulfillment of which will give rise to an obligation (or right); the demandabllity of the obligation is suspended until the happening of the uncertain event which constitutes the condition Tender of payment The act on the part of the debtor, of offering to the creditor the thing or amount due, “Total Compensation When both obligations are of the same amount and are entrely extinguished Total or extinctive novation ‘When the old obligation is completely extinguishedwir Hume, gre uve uepLUrs ane UeuU'S oF eetrT CUTE Campensatary Penal Clause When the penalty takes place of damages ‘Complete Condonstion | Covers the entire obligation ‘Compliance in good | Compliance or performance in accordance with the stipulations or terms of the contract faith or agreement, ‘Compound Obligation There are two Or More prestations ‘Compulsory heirs Entitled to legitime. Conclusive ‘One which cannot be contradicted, Tike the presumption that everyone Is conclusively Presumption presumed to know the law ‘Canaition ‘A future and uncertain event, upon the happening of which, the GHecivity or extinguishment of an obligation (or right) subject ta it depends. Conaitional Obligation ‘One whose consequences are subject in one way or another to the fulfilment of @ condition ‘Canconation Inter Te will ake effect during the Ifetime of the donor ‘Conconation Mortis | Trwill become effective upon the death of the donor must comply with the formalities oF causa 2 will ‘Conconation oF Gratuitous abandonment by the creditor of his right against the debtor, @ form of Remission, donation ‘Confusion oF merger “The meeting inane person of the qualities ofa craditor and debtor with respect to the same obligation Conjuctive Condition There are several Condtions and all must be (uted ‘Conjuctive Obligation There are several prestations and all of them are due ‘Consignaton The act of depositing the thing or amount due with the proper court when tne creditor does not desire or cannot receive it, after complying with the formalities required by law, Contract 2 juridical convention manifested in legal farm, by virtue of which one or more persons bind themselves in favor of another or others, or reciprocally, to the fulfillment of a prestation ta give, ta do ar not to do. Contractual Negligence in contracts resulting in their breach ‘Cantravention oF Violation of the terms and conditions stigulated in the obligation terms ‘Conventional Where the will of the parties makes as indivisible, obligations which, by their nature, are Indivisibilty divisible ‘Conventional Navation “Takes place by agreement of the parties