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1.

Instances when debtor loses right to period

Art. 1198. The debtor shall lose every right to make use of the period:
(1) When after the obligation has been contracted, he becomes insolvent, unless he gives a guaranty or
security for the debt;
(2) When he does not furnish to the creditor the guaranties or securities which he has promised;
(3) When by his own acts he has impaired said guaranties or securities after their establishment, and
when through a fortuitous event they disappear, unless he immediately gives new ones equally
satisfactory;
(4) When the debtor violates any undertaking, in consideration of which the creditor agreed to the
period;
(5) When the debtor attempts to abscond.

2. Rescissible Contracts

Article 1381. The following contracts are rescissible:


(1) Those which are entered into by guardians whenever the wards whom they represent suffer lesion
by more than one-fourth of the value of the things which are the object thereof;
(2) Those agreed upon in representation of absentees, if the latter suffer the lesion stated in the
preceding number;
(3) Those undertaken in fraud of creditors when the latter cannot in any other manner collect the claims
due them;
(4) Those which refer to things under litigation if they have been entered into by the defendant without
the knowledge and approval of the litigants or of competent judicial authority;
(5) All other contracts specially declared by law to be subject to rescission. (1291a)

Art. 1382. Payments made in a state of insolvency for obligations to whose fulfillment the debtor could
not be compelled at the time they were effected, are also rescissible.

Mnemonics from Mem-aid p. 296-297: (WAF-IT-Others)


Ward
Absentees
Fraud
Insolvency
Things under litigation
Other contracts

3. When may the creditor demand against the debtor's debtor.


Requisites:
1. The Debtor must be indebted to the creditor.
2. The Creditor is prejudiced by the inaction of the debtor.
3. The Creditor has exhausted the properties of debtor.

Legal Basis:
Article 1177. The creditors, after having pursued the property in possession of the debtor to satisfy their
claims, may exercise all the rights and bring all the actions of the latter for the same purpose, save those
which are inherent in his person; they may also impugn the acts which the debtor may have done to
defraud them.
4. Requisites of Fortuitous Event

1. It must be independent of the human will;


2. It must be either unforeseeable or inevitable;
3. It must be of such a character as to render it impossible for the obligor to fulfill his obligation in a
normal manner;
4. The obligor must be free from any participation in the aggravation of the injury resulting to the
obligee.

(Art. 1174. Except in cases expressly specified by the law, or when it is otherwise declared by stipulation,
or when the nature of the obligation requires the assumption of risk, no person shall be responsible for
those events which could not be foreseen, or which, though foreseen, were inevitable.)

5. Ancillary remedies effect on joint obligations

1. Demand by one creditor upon one debtor, produces the effects of default only with respect to the
creditor who demanded and the debtor on whom demand was made, bur not with respect to others.
2. Interruption of prescription by the judicial demand of one creditor upon a debtor, soes not benefit
the other creditors nor interrupt the prescription as to other debtors.
3. Vices of each obligation arising from the personal defect of a particular debtor or creditor does not
affect the obligation or rights of others.
4. Insolvency of a debtor does not increase the responsibility of his co-debtors, nor does it authorize a
creditor to demand anything from his co-creditors.
5. In joint divisible obligation, the defense of res judicata is not extended from one debtor to another.

Alternative answer

subsidiary remedies:
1. accion subtogatoria
2. accion pauliana
3. to exhaust the property in possession of the debtor generallyby attachment
4. accion direct
5. other specific remedies

6. Instances when penalty may be reduced:


1) if the principal obligation has been partly complied with
2) if the principal obligation has been irregularly complied with
3) if the penalty is iniquitous or unconscionable even if there has been no performance
NCC, Art 1229.

7. Enumeration of those Contracts stated in Art. 1356 (From Jurado Book and MemAid 2015)
Contracts which require certain forms to be valid, classified as:

A) Those which must appear in Writing


1. Donatipn of personal property whose value exceeds P500. (Art. 748)
2. Sale of a piece of land or any interest therein through an agent. (Art 1874)
3. Agreements regarding payment of interest in contracts of loan. (Art. 1956)
4. Antichresis (Art. 2134)
5. Stipulation limiting common carrier's duty of extraordinary diligence to ordinary diligence. (Art. 1744 -
It has also 2 other requisites aside from writing to be valid.)

B) Those which must appear in a Public Document


1. Donations of immovable property. (Art. 749)
2. Partnerships where immovable property or real rights are contributed to the common fund. (Art.
1771 and 1773)
*{3. Art. 1358 paragraphs 1-4:
"Art. 1358. The following must appear in a public document:
(1) Acts and contracts which have for their object the creation, transmission, modification or
extinguishment of real rights over immovable property; sales of real property or of an interest therein a
governed by Articles 1403, No. 2, and 1405;
(2) The cession, repudiation or renunciation of hereditary rights or of those of the conjugal partnership
of gains;
(3) The power to administer property, or any other power which has for its object an act appearing or
which should appear in a public document, or should prejudice a third person;
(4) The cession of actions or rights proceeding from an act appearing in a public document."

However such requirement that it be in be executed in a public/private instrument is only for the
insurance of its efficacy, so that after its existence has been admitted, the party bound may be
compelled to execute the necessary document. -Jurado, Obligations and Contracts, pp.484}

C) Those which must be Registered


1. Chattel mortgages (Art. 2140)
2. Sales or transfers of large cattle (Sec. 22, Act No. 1147: Cattle Registration Act in relation to Art. 1581
of Civil Code)

8. Effects of a joint obligation


a) vices of each obligation arising from the personal defect of a particular debtor or creditor does not
affect the obligation or right of the others
b) insolvency of one debtor does not make others responsible for his share
c) demand by the creditor on one joint debtor puts him in default, but not the others since the debts are
distinct
d) when the creditor interrupts the running of the prescriptive period by demanding judicially from one,
the others are not affected
e) defenses of one debtor are not necessarily available to others

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