Obligations and Substitution

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What happens to the obligation if the Toyota Revo is lost through a fortuitous event before substitution?

The debtor shall pay damages

The obligation remains in effect

The creditor can still demand for payment

The obligation is extinguished (correct)

What type of obligation is it where the debtor is liable for the entire obligation, and each creditor is entitled to demand the whole obligation?

Joint obligation

Solidary obligation (correct)

Conjoint obligation

Indivisible obligation

If the Toyota Revo is lost through Denzel's fault after substitution, what is the debtor's liability?

The obligation is extinguished

The debtor shall pay damages (correct)

The creditor can rescind the contract

The debtor is not liable

What is an obligation wherein various things are due but the complete performance of all of them is necessary to extinguish the obligation?

Indivisible obligation Signup and view all the answers

What type of obligation is it where each of the debtors is liable only for a proportionate part of the debt and each creditor is entitled only for a proportionate part of the credit?

Joint obligation Signup and view all the answers

What happens to the obligation if the Toyota Revo is lost through a fortuitous event after substitution?

The obligation is extinguished Signup and view all the answers

What type of novation occurs when the object of the obligation is changed?

Real novation Signup and view all the answers

What type of novation occurs when both the object and principal condition of the obligation are changed?

Mixed novation Signup and view all the answers

What is the effect of extending the period for payment from 4 years to 6 years?

There is novation Signup and view all the answers

What occurs when a third person assumes the payment of the obligation without the knowledge and consent of the debtor but with the consent of the creditor?

Expromission Signup and view all the answers

What type of novation occurs when the person of the debtor is changed?

Personal novation Signup and view all the answers

What is an example of a modification of an obligation?

A agreeing to give B a car if B merely passes the CPA Board Signup and view all the answers

What type of obligation is it when only one prestation has been agreed upon, but the obligor may render another in substitution?

Facultative obligation Signup and view all the answers

What happens if the principal thing is lost due to a fortuitous event before substitution in a facultative obligation?

The obligation is extinguished Signup and view all the answers

What is the consequence of the loss or deterioration of the thing intended as a substitute, through the negligence of the obligor?

The obligor is liable for the loss Signup and view all the answers

What is the effect on the debtor's liability if the principal thing is lost after substitution?

The debtor is still liable for the substitute Signup and view all the answers

In a facultative obligation, who bears the risk of loss of the substitute thing?

The debtor Signup and view all the answers

What type of obligation is it when Denzel is obliged to give a Toyota Revo SR car, but he may give a Mitsubishi Adventure car as a substitute?