10 Questions
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
Compensation: When two persons are mutual debtors and creditors of each other with equally liquidated and demandable obligations, ______ can extinguish their obligations.
compensation
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
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.
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.
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.
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.
Test your knowledge on the various modes of extinguishing obligations in the Civil Code of the Philippines. Learn about payment or performance, loss of the thing due, condonation, and more.
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