Chapter 3 - Section 4 - Joint and Solidary Obligations Flashcards
(35 cards)
One debtor/obligor and one creditor/obligee
Individual Obligation
Two or more debtors and/or two or more creditors. It may be joint or solidary.
Collective Obligation
Entire obligation is to be paid or fulfilled proportionately by the different debtors and / or is to be demanded proportionately by the different creditor. TO EACH HIS OWN
Joint Obligation
Each one of the debtors is bound to render, and / or each one of the creditors has a right to demand from any of the debtors. ONE FOR ALL, ALL FOR ONE
Solidary Obligation
Solidarity on the part of the debtors, where any one of them can be made liable for the fulfillment of the entire obligation. It is in the nature of a mutual guaranty.
Passive solidarity
Solidarity on the part of the creditors, where any of them can demand the fulfillment of the entire obligation.
Active solidarity
Solidarity on the part of the debtors and creditors, where each one of the debtors is liable to render, and each one of the creditors has a right to demand entire compliance with the obligation.
Mixed solidarity
Mancomunada, Mancomunadamente, Pro rata, Proportionately, “WE promise to pay”, Jointly, Conjoint
Joint
Jointly and severally, Solidaria, Solidium, Together and separately, Individually and collectively, Juntos o separadamente, “I promise to pay”
Solidary
The parties are merely proportionately liable. The object or subject matter is not physically divisible into different parts.
JOINT INDIVISIBLE OBLIGATION
When the parties are bound by the same stipulations
Uniform
When the parties are not subject to the same stipulations.
Non-uniform or varied
“demands’
Beneficial
“renounces”
Prejudicial
Transfer of right
Assign
The total or partial extinction of an obligation through the creation of a new one which substitutes it.
Novation
Takes place when two persons, in their own right, are creditors and debtors of each other.
Compensation
The meeting in one person of the characters of creditor and debtor with respect to the same obligation.
Confusion or merger
The gratuitous abandonment by the creditor of his right against the debtor; form of donation; acceptance of the obligor is necessary.
Remission or Condonation
First demand shall not prevent subsequent demands on the other co-debtors, if the co-debtor first to have been required to fulfill obligation did not act on it.
Extrajudicial demands
Article 1217
Between the solidary debtors and creditor(s)
Among the solidary debtors
Among the solidary creditors
Consists in the delivery of the thing or the rendition (rendering) of the service which is the object of the obligation.
Payment
Compensation for the use of borrowed money
Interest
The solidary debtor who made the ________ _______ is entitled to be reimbursed only for such amount of money which he had paid and which exceeds his own share in the obligation.
Partial payment