- What is a Resolutory contract?
- What is suspensive period in law?
- What is impossible condition?
- What is the effect of the condition not to do an impossible thing?
- What is a Resolutory period?
- What is Resolutory condition?
- What makes an obligation valid?
- Is death an obligation with a period?
- What is an example of suspensive condition?
- What is the rule in mixed conditional obligation?
- What is meant by conditional obligation?
- Which obligation is not demandable at once?
- When the obligation is subject to a Resolutory condition?
- What is suspensive condition and Resolutory condition?
- What is positive condition?
- When his means permit him to do so?
- What is the effect of the fulfillment of the Resolutory condition in a conditional obligation?
- What is Resolutory condition example?
- When the courts fix the period?
- What is a pure obligation?
- What is a casual condition?
What is a Resolutory contract?
A suspensive condition is a condition which suspends rights and obligations (or the validity of the entire contract) until a certain future event occurs.
Upon the occurrence of the event, the suspended part of the contract (or indeed the entire contract) is brought to life..
What is suspensive period in law?
A suspensive condition, as the name suggests, suspends the operation of a contract for a period of time until a certain specified condition is fulfilled. … If the condition is not fulfilled within the specified time period the contract normally falls away in its entirety and no claim for damages exist.
What is impossible condition?
Impossible condition is a condition precedent or subsequent in a contract which, at the time when the contract is entered into, purports to bind a party to do that which is absolutely impossible in itself.
What is the effect of the condition not to do an impossible thing?
Since the obligor knows the condition cannot be fulfilled, the obligation will not be complied with2)Conditional obligation valid– if condition is negative, that is, not to do an impossible thing, it is disregarded and the obligation is rendered pure and valid.
What is a Resolutory period?
“resolutory period” – period upon the arrival of which the obligation terminates Obligation with a Period. “Obligations with a resolutory period take effect at once, but terminate upon arrival of the day certain.” – Article 1193, Civil Code Obligation with a Period.
What is Resolutory condition?
Resolutory condition refers to a condition whereby, upon fulfillment terminates an already enforceable obligation. It also entitles the parties to be resorted to their original positions. A resolutory condition is also implied in all commutative contracts.
What makes an obligation valid?
The obligation is valid. … When the creditor knows that the debtor already has the means to pay, he must file an action in court to fix the period, and when the definite period as set by the court arrives, the obligation to pay becomes demandable (CIVIL CODE, art. 1197). 2.
Is death an obligation with a period?
obligation period “(I)f your father will die” is an example of a period because it is a future event and at the same time certain . The death of a person is a certain event. What is uncertain only is the day when it will come, but it is sure to come.
What is an example of suspensive condition?
Examples of suspensive conditions are obtaining bond approval before a certain date, or the sale of the Purchaser’s current property before a certain date. It is very important for both the Seller and Purchaser to take note of the wording of these conditions and ensure that they understand them.
What is the rule in mixed conditional obligation?
Mixed condition- one which depends upon the will of one of the contracting parties and other circumstances, including the will of a third person. Example: “I will give you a house if you marry Carolina.”
What is meant by conditional obligation?
CONDITIONAL OBLIGATION. One which is superseded by a condition under which it was created and which is not yet accomplished.
Which obligation is not demandable at once?
suspensive obligationA suspensive obligation is not demandable at once. It can be demanded only upon the happening of the future or unknown event or a past event unknown to the parties, which constitutes the condition. Happening of a suspensive condition gives rise to the performance of the obligation.
When the obligation is subject to a Resolutory condition?
If an obligation is subject to a resolutory condition it is immediately demandable. The creditor can already compel the debtor to perform the obligation once the condition is perfected.
What is suspensive condition and Resolutory condition?
A conditional obligation is one dependent on an uncertain event. If the obligation may not be enforced until the uncertain event occurs, the condition is suspensive. If the obligation may be immediately enforced but will come to an end when the uncertain event occurs, the condition is resolutory.
What is positive condition?
A positive condition in the law refers to an event that is to take place in order for a condition to be met, as opposed to the non-occurrrence of an event, which would be a negative condition. For example, “if I have children'” is a positive condition and “if I don’t have childen” is a negative condition.
When his means permit him to do so?
When the debtor binds himself to pay when his means permit him to do so, the obligation shall be deemed to be one with a period, subject to the provisions of article 1197. By: Evelyn Balaoro. Explanation: An obligation with a period arises when a day certain has been fixed for its fulfillment.
What is the effect of the fulfillment of the Resolutory condition in a conditional obligation?
In obligations to give, if the resolutory condition in an obligation is fulfilled, the obligation is extinguished. In obligations to do or not to do, the courts shall determine the retroactive effect of the completion of the resolutory condition.
What is Resolutory condition example?
RESOLUTORY CONDITION. On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months. My ship arrives in one month, my contract with you is revoked.
When the courts fix the period?
“The courts shall also fix the duration of the period when it depends upon the will of the debtor. When the authority granted by this provision is exercised by courts, the same do not amend or modify the obligation concerned. Article 1197 in part and parcel of all obligations contemplated therein.
What is a pure obligation?
A pure obligation is a debt which is not subject to any conditions and no specific date is mentioned for its fulfillment. A pure obligation is immediately demandable. It is an obligation with respect to which no condition precedent remains which has not been performed.
What is a casual condition?
A casual condition is one which depends upon a chance. A casual condition is not within the control of either party to a contract. The casual condition is that which depends on chance, and in no way in the power either of the creditor or of the debtor.