What are the general provisions under Article 1231?
They are: annulment; rescission; fulfillment of the resolutory condition; prescription; death; arrival of the resolutory term; change of civil status; compromises; mutual dissent; impossibility of fulfillment, and; fortuitous event.
What are the elements of obligations under the new Civil Code of the Philippines?
Every obligation has four essential elements: an active subject; a passive subject; the prestation; and the legal tie. The ACTIVE SUBJECT is the person who has the right or power to demand the performance or payment of the obligation. He is also called the obligee or the creditor.
What are the essential elements of a contract?
And even though contracts are infinitely varied in length, terms, and complexity, all contracts must contain these six essential elements.
- Offer.
- Acceptance.
- Awareness.
- Consideration.
- Capacity.
- Legality.
What is special form of payment?
The Civil Code provides four special forms of payment: (a) dation in payment[1]; (b) payment by cession[2]; (c) application of payments[3]; and (d) tender of payment and consignation. [4][5] The first paragraph of Article 1252 discusses the concept of application of payment.
What is obligation according to the Civil Code of the Philippines?
An obligation is a juridical necessity to give, to do or not to do. An obligation needs to be juridical in nature in order for it to have the force of law. Through this, a court may be asked to order the performance of an obligation. An obligation are civil or natural.
What are the four kinds of obligations?
DIFFERENT KINDS OF OBLIGATION
- Pure and conditional obligation.
- Obligations with a period.
- Alternative and facultative obligations.
- Joint and solidary obligations.
- Divisible and indivisible obligations.
- Obligations with a penal clause.
What are the four special forms of payment under the Civil Code?
The Civil Code provides four special forms of payment: (a) dation in payment[1]; (b) payment by cession[2]; (c) application of payments[3]; and (d) tender of payment and consignation.
What is consignation law?
Consignation is the act of depositing the thing due with the court or judicial authorities whenever the creditor cannot accept or refuses to accept payment and generally requires a prior tender of payment.
What is the status of contract of sale?
A contract of sale is an agreement between a seller and a buyer. The seller agrees to deliver or sell something to a buyer for a set price that the buyer has agreed to pay. With these contracts, the transfer of ownership happens when the buyer pays and the seller delivers.
What are the 4 books of the Civil Code?
The Civil Code is divided into four “books”, with each specific book namely:
- Persons and Family relations.
- Property, Ownership and its Modifications.
- Modes of Acquiring Ownership.
- Obligations and Contracts.
- Torts and Damages.
What is sale under the Civil Code?
Sale is a contract where one party (seller or vendor) obligates himself to transfer the ownership of and to deliver a determinate thing, while the other party (buyer or vendee) obligates himself to pay for said thing a price certain in money or its equivalent. (See Art. 1458, Civil Code).
What is art 1231 service of citation?
Art. 1231. Types of service; time of making Service of citation or other process may be either personal or domiciliary, and except as otherwise provided by law, each has the same effect. Service, whether personal or domiciliary, may be made at any time of day or night, including Sundays and holidays.
How are obligations extinguished under Article 1231 of the code?
Article 1231. Obligations are extinguished: [6] By novation. Other causes of extinguishment of obligations, such as annulment, rescission, fulfillment of a resolutory condition, and prescription, are governed elsewhere in this Code.
What is a section 1231 loss?
The term “ section 1231 loss” means any recognized loss from a sale or exchange or conversion described in subparagraph (A). the section 1231 losses shall be included only if and to the extent taken into account in computing taxable income, except that section 1211 shall not apply.
How do you extinguish obligations in the Civil Code?
Article 1231. Obligations are extinguished: [6] By novation. Other causes of extinguishment of obligations, such as annulment, rescission, fulfillment of a resolutory condition, and prescription, are governed elsewhere in this Code. (Civil Code)