Classes of Period

 Ex Die

 In Diem

 Judicial- set by the court

 Conventional- stipulation of the parties

 Legal- Set by law

 Definite

 Indefinite

Simple obligation - involves one prestation and its due and demandable

10 years is not demandable because its already prescribed

Compound obligation- “and” there are several prestation which is due and demandable

Two kind of Compound obligation

A. Conjunctive- “and”

- I have an obligation to deliver a specific car and specific truck

-kailan gawin ang pareho

B. Distributive

A. Alternative- “or”

- I have an obligation to deliver a specific car or specific truck

B. Facultative- “instead of”

- I have an obligation to deliver a specific car but I may instead a specific truck

-due and demandable is the first prestation

Divisible- partial compliance and perfomance

- ABC are debtors of X in amount of 9000

- Money is divisible
Indivisible- no partial compliance

- Race horse

-one of the debtor refuse to deliver the specific thing you must know first the value of the
thing.

Obligation with a penal clause

- If the problem is silent it not make a reservation as any kind of damages

-”penalty carries’’ all kind of damages

- the nullity of the principal obligation carries within the nullity of the penalty

But the nullity of the penalty does not carry the nullity of the principal obligation

- penalty is a mere accessory obligation

- If the principal obligation declare as a null and void even the penalty is null and void

-If the penalty declare as a null and void the legality of the penalty will not be affected

If the suspensive condition and period is still not give to the creditor, the debtor is the one
who have the prestation

Loss- Perishes or nawala sa commerce

Debtor fault - pay damages

Debtors not at fault - obligation will be extinguished

Deterioration - Nag lessen ng value

Debtors fault- creditor will make a choice if its exact fulfillment + damages or
recession+ damages

Debtors not fault- creditor suffers

Improvement- addition sa value

Debtors fault- debtor has a usufractuary rights- right to enjoy the property

Debtors not fault - benefit of the creditor

Modes of Extinguishment

-payment

-loss of the thing due

-condonation

-confusion or merger

-compensation

-novation

-annulment

-rescission

-fulfillment of a resolutory condition

-prescription

Legal Tender - Philippine Peso

No one can reject legal tender

Requisites

- currency authorized by the government

- used as payment for an obligation

1000- More than 1

100- Less than 1

When the debtor losses every right to make used of a period

 Insolvency of the debtor

 The debtor impaired the guaranties or securities

 The debtor fail to furnish the guaranties or securities to the creditor which he promised

 The debtor violates any undertaking, in consideration of which the creditor agreed to the period

 The debtors attempts to abscond

3 principles of payment

1. Integrity of payment- payment must be complete

2. Identity of payment- deliver the object what must agreed upon

3. Indivisibility of payment- not to accept partial payments