3.

OBLIGATION W/ A PERIOD (3) SUMMARY OF RULES, OBLIGATIONS, & RIGHTS OF DEBTOR IN

- demandability/extinguishment subject to the expiration of
period
PERIOD interval of time; either suspends demandability or
produces extinguishment
DAY CERTAIN must come, not known when
ALTERNATIVE OBLIGATION
1. If 1 of prestations lost through fortuitous event, shall still be
perform by choosing (creditor) from the remainder.
2. If 1 of prestations lost through debtors fault, creditor may claim
any of remainders w/ damages.
3. If ALL prestations lost through debtors fault, creditor choose
price w/ damages.

7 CASES CONSIDERED TO BE OBLIGATION W/ A PERIOD RULES on LOSS/DETERIORATION of the thing intended as

1. Little by little
2. In partial payment
3. Payable ASAP
4. When I can afford it
5. When I have the money
6. When I am able to
7. When my means permit me to do so
PERIOD
certain
future only
(*influence upon obligation)
only upon its demandability
CONDITION
uncertain
future/past but unknown
(*) on the very existence of
obligation itself
SUBSTITUTE in FACULTATIVE OBLIGATION
1. If there is a loss/deterioration of thing intended as substitute,
debtor is NOT liable if NOT HIS FAULT.
But if substitution is already made, debtor is liable for loss of
substitute when in DELAY, NEGLIGENCE, or FRAUD.
6. JOINT OBLIGATION
- obligation is to be paid proportionately by debtors or to be
demanded proportionately by creditors
7. SOLIDARY OBLIGATION
- each one of debtors has right to render or each one of creditors
has right to demand the entire compliance w/ prestation

FOR WHOSE BENEFIT IS THE PERIOD? MAXIMS & SYNONYMS

General Rule: Both the debtor & creditor. MAXIMS SYNONYMS
Therefore, NEITHER of them can demand performance of JOINT Obligation To each his proportionate
obligation. own
Exception: If the term of obligation has to favor one of them. SOLIDARY One for all, all individually &
Obligation for one collectively
5 INSTANCES WHEN DEBTOR LOSES RIGHT TO USE PERIOD
1. Debtor is insolvent. (3) SOLIDARY OBLIGATION EXIST ONLY IF: *RULES
2. Debtor attempts to abscond. 1. Law states
3. Impairment of guarantees/securities. 2. Stipulation states
4. Failure to furnish guarantees/securities promised. 3. Nature of obligation requires
5. Violation of undertaking.
2 PRESUMPTIONS THAT OBLIGATION IS JOINT
4. ALTERNATIVE OBLIGATION 1. The debts be divided as many shares as there are
- w/ 2 or more prestations, only 1 is due. debtors/creditors.
2. The debtors/creditors are distinct from one another.
5. FACULTATIVE OBLIGATION
- w/ ONLY 1 prestation but can be substituted. 8. DIVISIBLE OBLIGATION
- prestation is capable of partial performance
ALTERNATIVE prestations LOST w/ debtors fault
Creditor entitled to damages but needs ff requisites: 9. INDIVISIBLE OBLIGATION
1. Debtor can choose. - prestation incapable of partial performance
2. All prestations lost/become impossible due to debtors fault.
10. OBLIGATION W/ A PENAL CLAUSE
ALTERNATIVE OBLIGATION FACULTATIVE OBLIGATION - one w/ accessory undertaking attached to obligation to assume
several prestations due, one prestation due, but can greater liablity in case of breach/non-fulfillment of obligation
giving one is sufficient be subtituted
right to choose (debtor) right to choose DEBTOR ONLY 3 PURPOSES OF PENAL CLAUSE
unless granted to creditor 1. Ensure performance of obligation
If 1 of the prestation is illegal, nullity of principal carries w/ 2. Substitute for damages & interest in case of noncompli-ance
others may be valid, it nullity of accessory/ 3. Penalize debtor in case of breach
obligation remains substitute
loss/impossibility of ALL loss/impossibility of presta-
prestations due, w/o debtors tion due, w/o debtors fault,
fault, extinguishes obligation extinguishes obligation