Legal Obligations Quiz

Describe the key difference between dation in payment and cession.

• Dation in payment is a form of bankruptcy, while cession is a method of negotiation.

• Dation in payment settles a debt by transferring specific property, while cession involves handing over all properties to creditors for liquidation.

• Dation in payment requires court approval, while cession does not.

• Dation in payment is only applicable to personal debts, while cession applies to corporate debts.

Who is defined as the payee in a payment transaction?

• The original creditor of the obligation.

• The person in whose favor the obligation was constituted, their successor in interest, or any authorized person.

• Any individual who witnesses the transaction.

• Only the successor in interest of the original creditor.

What are the three main actions that an obligation can require in legal terms?

• To borrow, to lend, and to invest.

• To negotiate, to mediate, and to litigate.

• To create, to dissolve, or to enforce.

• To give, to do, or not to do.

Describe the process through which an obligation can be extinguished.

• An obligation can be extinguished through various means such as payment, loss of the thing due, or mutual debts.

• An obligation is extinguished automatically after a certain period.

• An obligation can only be extinguished by a court order.

• An obligation can be extinguished by simply ignoring it.

What is required for debts to be eligible for compensation?

• Both debts must be paid simultaneously.

• Debts must be in the same currency.

• Both debts must be due at the time of compensation.

• Only one debt needs to be due.

How does implied condonation differ from explicit condonation in legal terms?

• Implied condonation applies only to monetary obligations, while explicit applies to all types of obligations.

• Implied condonation requires a formal contract, while explicit does not.

• Implied condonation is recognized only in civil law, while explicit is recognized in natural law.

• Implied condonation is inferred from actions, while explicit condonation is clearly stated in writing or verbally.

What is the legal term for the deposit of the object of an obligation in court after payment is refused?

• Condonation

• Compensation

• Consignation

• Novation

What is the definition of payment in the context of obligations?

• The process of extinguishing an obligation through mutual debts.

• The legal duty to refrain from doing something.

• The fulfillment of an obligation by delivering the due amount or performance of duties.

• The act of transferring ownership of a thing.

Interpret the significance of the statement that an act or forbearance cannot be substituted against the obligee's will.

• It indicates that all obligations are interchangeable.

• It emphasizes the importance of the specific performance of obligations as agreed upon by the parties involved.

• It implies that the obligee has no rights in the matter.

• It suggests that obligations can be easily changed by mutual consent.

What does the term 'condonation' specifically refer to in legal obligations?

• The legal requirement to fulfill a contract.

• The process of making a payment on a debt.

• The transfer of debt from one party to another.

• Remission or forgiveness of a debt by the creditor.