KINDS OF OBLIGATION

One whose effectivity or extinguishment does not depend upon the fulfillment or nonfulfillment of a condition or upon the expiration of a term or period. It is demandable at once.

❖ I promise to pay you P1 million.

❖ I’ll pay you P1 million on demand.

(a)  

One whose effectiveness is subordinated to the fulfillment or non-fulfillment of a future and uncertain fact or event.

- Condition – It is a future and uncertain event which wields an influence on legal relationships.

❖ I Promise to give you a car provided that you pass the CPA board exam

❖ I will give you 1 Million if President Marcos dies of lung cancer.

(a)  

Those whose demandability or extinguishment is subject to the expiration of a term or period which must necessarily come.

(a)  

It is one where several prestations are due but the complete performance of one of them is sufficient to extinguish the obligation.

(a)  

An obligation where only one prestation is due but the debtor may render another in substitution.

(a)  

In this obligation, each debtor is liable only for a proportionate part of the debt, and each creditor is entitled only to a proportionate part of the credit.

(a)  

In this obligation, each debtor is liable for the whole obligation, and each creditor is entitled to demand payment of the whole obligation

(a)  

is one capable of partial performance (such as the obligation to deliver 10 sacks of rice).

(a)  

Is on not capable of partial performance

(a)  

Is one which provides for a greater liability on the part of the debtor in case of noncompliance. The accessory undertaking on the part of the debtor is called the (a)   .