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Modes of Extinguishing Obligations

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Questions and Answers

Payment or performance: Obligations are extinguished when the debtor fulfills their obligation by making ______ or performing the required action.

payment

Loss of the thing due: If the object of the obligation is ______, the obligation is extinguished.

lost

Condonation or remission of the debt: When a creditor voluntarily forgives or ______ a debt, the obligation is extinguished.

cancels

Confusion or merger of the rights of creditor and debtor: If the rights of the creditor and debtor are combined in one person, the obligation is ______.

extinguished Signup and view all the answers

Compensation: When two persons are mutual debtors and creditors of each other with equally liquidated and demandable obligations, ______ can extinguish their obligations.

compensation Signup and view all the answers

Name three modes of extinguishing obligations according to the Civil Code of the Philippines.

Payment or performance, Loss of the thing due, Condonation or remission of the debt Signup and view all the answers

What is novation and how can it extinguish obligations?

Novation is the substitution of an existing obligation with a new one. It can extinguish obligations by replacing the original obligation with a new one. Signup and view all the answers

Explain how compensation can extinguish obligations.

Compensation is the process where two persons are mutual debtors and creditors of each other with equally liquidated and demandable obligations. When compensation occurs, their obligations are extinguished. Signup and view all the answers

When does an obligation become extinguished if the object of the obligation is lost?

If the object of the obligation is lost, the obligation becomes extinguished. Signup and view all the answers

What is the effect of condonation or remission of a debt on an obligation?

When a creditor voluntarily forgives or cancels a debt, the obligation is extinguished. Signup and view all the answers