Nature and Effect of Obligations Flashcards
(50 cards)
What is the definition of an obligation under Philippine law?
An obligation is a legal tie or bond whereby a person is bound to perform a certain act in favor of another.
True or False: An obligation can only be to give something.
False
Fill in the blank: Obligations can arise from ________.
contracts, law, quasi-contracts, delicts, and acts or omissions.
What are the three essential requisites of an obligation?
The active subject, the passive subject, and the object of the obligation.
Multiple Choice: Which of the following is NOT a source of obligations? A) Law B) Contract C) Will D) Delict
C) Will
What is a ‘contract’ in the context of obligations?
A contract is an agreement between two or more parties that creates mutual obligations enforceable by law.
True or False: Obligations can be classified into civil and natural obligations.
True
What is a civil obligation?
A civil obligation is one that is enforceable by law.
What is a natural obligation?
A natural obligation is one that is not legally enforceable but is recognized by law.
Fill in the blank: The debtor in an obligation is the party who is ________.
bound to perform the obligation.
Multiple Choice: Which of the following is an effect of an obligation? A) It can be transferred B) It can be ignored C) It can be expired D) It can be created
A) It can be transferred
What is ‘tender of payment’?
Tender of payment is the offer of the debtor to pay the creditor the amount due.
True or False: A debtor can unilaterally change the terms of an obligation.
False
What is ‘dation in payment’?
Dation in payment is the delivery of a thing other than that which is due in order to extinguish an obligation.
Fill in the blank: The extinction of an obligation can occur through ________.
payment, loss of the object, mutual agreement, and compensation.
What does ‘compensation’ mean in the context of obligations?
Compensation is the extinguishment of two debts that are due and demandable, where one debt is set off against the other.
Multiple Choice: Which is NOT a way to extinguish an obligation? A) Payment B) Novation C) Breach D) Loss of the object
C) Breach
What is ‘novation’?
Novation is the replacement of an old obligation with a new one, extinguishing the original obligation.
True or False: A creditor has the right to demand performance of an obligation.
True
What is ‘default’ in obligations?
Default occurs when a debtor fails to perform the obligation within the stipulated time.
Fill in the blank: In case of default, the creditor may demand ________.
damages.
What is meant by ‘liability for damages’ in the context of obligations?
Liability for damages means that a debtor may be required to compensate the creditor for losses incurred due to non-performance.
Multiple Choice: Which of the following can be a consequence of non-performance? A) Damages B) Release from obligation C) Increased obligation D) None of the above
A) Damages
What is ‘force majeure’?
Force majeure refers to unforeseeable circumstances that prevent someone from fulfilling a contract.