BUSINESS LAW FINAL EXAM

Usurious

transactions shall be

governed by special

laws.

It is the contracting for or receiving

something in excess of the amount allowed by law

for the loan or use of money, goods, chattels (

something that a person owns other than land or

buildings. e.g furniture, tools) or credits.

Giving a sum of money, goods, or credit

to another, with a promise to repay but not a

promised to return the same thing.

________________ income produced by money in

relation to its amount and to the time that it

cannot be utilized by its owner. Interest s may

either be moratory (paid in contractual

obligations to pay a sum of money, or as the

stipulated advanced determination of the

damages due to the delay in fulfillment of the

obligation) or compensatory (interest on

obligations which have an extra contractual or

delictual origin)

“The receipt of the principal by the creditor without reservation

with respect to the interest, shall give rise to the presumption that

said interest has been paid. The receipt of a later installment of a

debt without reservation as to prior installments, shall likewise

raise the presumption that such installments have been paid. ”The

receipt of a later installment of a debt without reservation as to

prior installments, shall likewise raise the presumption that such

installments have been paid.

The creditors, after having pursued the

property in possession of the debtor to satisfy

their claims, may exercise all the rights and

bring all the actions of the latter for the same

purpose, save those which are inherent in his

person; they may also impugn the acts which

the debtor may have done to defraud them.

_________ is an action where the creditor hose

claims had not been fully satisfied, may go after the debtors

(third persons) of the defendant-debtor.

___________ is an action where the creditor files an action

in court for the rescission of acts or contracts entered into by

the debtor designed to defraud the former.

Subject to the laws, all rights acquired in virtue of an

obligation are transmissible, if there has been no

stipulation to the contrary.

Every obligation whose performance does not depend

upon a future or uncertain event, or upon a past event

unknown to the parties, is demandable at once.

Every obligation which contains a resolutory condition

shall also be demandable, without prejudice to the

effects of the happening of the event. (1113)