Beruflich Dokumente
Kultur Dokumente
Extinguishment of Obligations
Dela Rea, Kimmi F.
Mapua Institute of Technology
School of Electrical, Electronics and Computer Engineering
Muralla St. Intramuros, Manila
kdelarea32@yahoo.com
Problem 1
D(debtor) owes C (creditor) P10,000 with G as
guarantor. On the due date of the obligation, T, a third
person, offered to pay the obligation of D. Can C legally
refuse to accept the payment? How about an offer of
payment from G?
Problem 2
M (maker) issued a promissory note for P10,000
in favor of P (payee) who lost the note which was found by
T who demands payment from M. M did not know that the
note was lost by P. Is M justified in paying T?
Problem 2
M (maker) issued a promissory note for P10,000
in favor of P (payee) who lost the note which was found by
T who demands payment from M. M did not know that the
note was lost by P. Is M justified in paying T?
-Yes. In Article 1242, Payment in good faith to any
person in possession of the credit shall release the debtor.
With the possession of the promissory note of T, M should pay
the amount of P10,000 stated in the promissory note. If M did
not know that P lost the note, so it will be under the payment
in good faith. After paying the amount of P10,000 to T, M is
not liable anymore to any payments to P.