Obligations and Contracts (Philippines)

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Date Added: 08 / 29 / 2010
Category: Politics
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Obligations and Contracts (Philippines)

View Full Essay NOVATION (Article 1291)
  * The extinction of an obligation through the creation of a new one which substitutes it
  * The substi or change of an oblig by another, which extinguishes or modifies the first, either:
      * by changing its object or principal conditions
      * by substi another in place of the debtor
      * by subrogating a third person in the rights of the creditor
(Subrogate - Take over a legal claim or right against a third party from another party who previously owned that right or claim)
Art. 1291   Obligations may be modified by:
  (1) Changing their object or principal conditions;
  (2) Substituting the person of the debtor;
  (3) Subrogating a third person in the rights of the creditor. (1203)

COMPENSATION (Article 1278)
  * the extinguishment to the concurrent amount of the debts of the two persons who, in their own right, are debtors and creditors of each other (Arts 1278, 1290)
  * involved the simultaneous balancing of 2 oblig in order to exting them to the extent in which the amt of one is covered by that of the other
Art. 1278. Compensation shall take place when two persons, in their own right, are creditors and debtors of each other. (1195)
CONFUSION (or merger) (Article 1275)
  * the meeting in one person of the qualities of creditor and debtor with respect to the same obligation
Art. 1275. The obligation is extinguished from the time the characters of creditor and debtor are merged in the same person. (1192a)
REMISSION (Article 1270)
  * the gratuitous abandonment by the creditor of his right against the debtor
  * form of donation
Art. 1270. Condonation or remission is essentially gratuitous, and requires the acceptance by the obligor. It may be made expressly or impliedly.
One and the other kind shall be subject to the rules which govern inofficious donations. Express condonation shall, furthermore, comply with the forms of donation. (1187)

Art. 1217.
Payment made by one of the solidary...