Finance

CHAPTER 4 EXTINGUISHMENT OF OBLIGATIONS Kinds of expiration 1. Physical Loss 2. Legal Loss 3. Civil Loss Extinguishment of Obligations are extinguished: 1. By defrayal or performance 2. By the loss of the thing of receivable 3. By remission 4. By novation 5. By confusion 6. By compensation Causes of Extinguishment of Obligations 1. Death of party in case the tariff is a personal one 2. Mutual desistance or pulling out 3. Arrival of resolutory period 4. Compromise 5. Impossibility of fulfillment 6. casualty of fortuitous event Payment- means non only the granty of money moreover also the performance, in each other manner, of an certificate of indebtedness; the prominent of a thing, the doing of an act, or not doing of an act. Debt- may refer to an cartel to deliver money, to deliver a thing, the doing of an act, or not doing of an act. 1. righteousness of prestation 2. Id entity of prestation- 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 costly faith, the obligor may determine as though there had been a strict and masterly fulfillment, less damages suffered by the obligee. (n) 1.

at that place must be substantial performance; 2. The obligor must be in good faith Requisites for the application of Article 1235- Art. 1235. When the obligee unsays the performance, lettered its sketchyness or irregularity, and without expressing any hold out or objection, the oblig ation 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 canal payment. 3.a If made...If you want to get a full essay, order it on our website: BestEssayCheap.com

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