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An obligation with a period is one whose consequences are independent of a certain time frame.
An obligation with a period is one whose consequences are independent of a certain time frame.
False
A term or a period can refer to a past event that is unknown to the parties involved.
A term or a period can refer to a past event that is unknown to the parties involved.
False
A condition may refer to both future and past events, while a period only refers to future events.
A condition may refer to both future and past events, while a period only refers to future events.
True
The arrival of a period has retroactive effects unless there is a contrary agreement.
The arrival of a period has retroactive effects unless there is a contrary agreement.
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If a period depends solely on the debtor's will, it allows the court to determine its duration.
If a period depends solely on the debtor's will, it allows the court to determine its duration.
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A suspensive period means that the obligation begins only from a certain day upon the arrival of the period.
A suspensive period means that the obligation begins only from a certain day upon the arrival of the period.
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An impossible period, such as February 30, renders the obligation void.
An impossible period, such as February 30, renders the obligation void.
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When an obligation is affected by a condition, it has retroactive consequences similar to those of a period.
When an obligation is affected by a condition, it has retroactive consequences similar to those of a period.
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A resolutory period terminates an obligation upon the arrival of a certain day.
A resolutory period terminates an obligation upon the arrival of a certain day.
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A judicial period is fixed by the parties involved in an obligation.
A judicial period is fixed by the parties involved in an obligation.
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If a debtor pays before the arrival of the period, they can always recover what was paid.
If a debtor pays before the arrival of the period, they can always recover what was paid.
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An indefinite period is one that is clearly defined and known.
An indefinite period is one that is clearly defined and known.
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The creditor can demand fulfillment of an obligation before the period expires without consent from the debtor.
The creditor can demand fulfillment of an obligation before the period expires without consent from the debtor.
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In a reciprocal contract, the period is presumed to have been established solely for the benefit of the creditor.
In a reciprocal contract, the period is presumed to have been established solely for the benefit of the creditor.
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Anything paid before the arrival of the period can only be recovered along with the principal amount, not the fruits or interests.
Anything paid before the arrival of the period can only be recovered along with the principal amount, not the fruits or interests.
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A legal period is determined by the relevant laws governing the obligation.
A legal period is determined by the relevant laws governing the obligation.
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The Civil Code defines a year as consisting of three hundred sixty-five days.
The Civil Code defines a year as consisting of three hundred sixty-five days.
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Under the Administrative Code, a month is defined as always having thirty days.
Under the Administrative Code, a month is defined as always having thirty days.
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A calendar month runs from the beginning of a specific day to the corresponding day of the next month.
A calendar month runs from the beginning of a specific day to the corresponding day of the next month.
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If the last day of a legal period is a holiday, the time period will continue running until the end of that holiday.
If the last day of a legal period is a holiday, the time period will continue running until the end of that holiday.
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The Administrative Code of 1987 specifies that a year consists of twelve calendar months.
The Administrative Code of 1987 specifies that a year consists of twelve calendar months.
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Under the Civil Code, if a date does not exist in the next month, it will extend to the last day of that month.
Under the Civil Code, if a date does not exist in the next month, it will extend to the last day of that month.
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The court can fix a period when the obligation does not specify one but it can be inferred from the circumstances.
The court can fix a period when the obligation does not specify one but it can be inferred from the circumstances.
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The Civil Code and the Administrative Code both define the length of a legal day as twenty-four hours.
The Civil Code and the Administrative Code both define the length of a legal day as twenty-four hours.
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Study Notes
Obligations with a Period
- An obligation with a period is one where the consequences are dependent on the expiration of a specific period or term.
- A period or term is a future, certain event that triggers an obligation (or right) to either arise or terminate. This event should be definitively calculable, though the precise timing might not be known (e.g., the death of a person).
Distinguishing Periods from Conditions
- Fulfillment: A period is a definite event, while a condition is uncertain.
- Time: A period relates only to the future, while a condition can refer to past events.
- Influence on Obligation: A period merely sets the time for the obligation's effectiveness, while a condition causes the obligation to either arise or cease. Conditions have retroactive effects, while periods typically do not -- unless explicitly specified in the agreement.
- Debtor's Will: If the period depends on the debtor, the court can set the duration, in contrast to a condition that, if dependent on the debtor, invalidates the obligation.
Types of Periods
- Suspensive Period: The obligation begins on the arrival of the specified day/event.
- Resolutory Period: The obligation is valid until the specified day/event arrives, triggering its termination.
- Legal Period: Determined by law.
- Conventional Period: Agreed upon by the parties involved.
- Judicial Period: Set by the court.
- Definite Period: Can be fixed or when it will occur accurately known.
- Indefinite Period: Not fixed or occurrence time is uncertain.
Premature Payment
- If a debtor pays before the designated period, they can typically recover what was paid plus accrued interest, unless otherwise stated by the parties involved.
Benefit of the Period
- In most cases, the period benefits both the creditor and debtor. The debtor can't be forced to fulfill the obligations before the period expires, and neither can the creditor demand fulfillment beforehand.
Computing Periods
- Years are 365 days each (leap years excluded in most cases).
- Months are 30 days each, unless the name of the month is given, where the corresponding number of days is used.
- Days are 24 hours..
- Nights are defined as sunset to sunrise.
When a Court Sets a Period
- Obligations without a stated timeframe, but with circumstances implying a period should've been intended, can be given a period via a court order. Agreements extending the original period need to be definite for the outcome to be valid.
When Obligation Can Be Demanded Early
- A debtor loses the right to a period in specific situations, and obligations become due immediately.
- Insolvency of the debtor
- Failure to provide the agreed-upon securities
- Damage or loss of the security given
- Violation of a related undertaking
- Attempts to abscond
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Description
Explore the concepts of obligations that have a specific term or period. This quiz distinguishes between periods and conditions, highlighting their implications on obligations. Test your knowledge on the nuances of obligation timelines and their legal effects.
