5 Questions
Who may pay an obligation?
Either the debtor or a third person with interest
What is the effect of loss in a determinate obligation to give?
Obligation remains and the debtor is liable for the loss
What is dacion en pago?
Payment by the delivery and transfer of ownership of a thing to the creditor as an accepted equivalent of the performance of the obligation
What is novation by subrogation?
Novation by substituting of the creditor
What is the effect of condonation or remission of debt?
Obligation is extinguished
Test your knowledge of the Law on Obligations and Contracts with this quiz focusing on Title I Chapter 4: Extinguishment of Obligations (Civil Code, Articles 1231 – 1304). Explore topics such as payment, third-party obligations, and the rules for making payments to the correct recipients.
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