Joint and Solidary Method

Topics: Debt, Creditor, Bankruptcy Pages: 3 (622 words) Published: August 27, 2012
Article 1216
Right of the creditor to proceed against any solidary debtor * Not applicable to a joint obligation. It reiterates the rule hat in a solidary obligation (passive solidarity), any one or some or all of the solidary debtors may simultaneously, may be made to pay the debt so long as it has not been fully collected. Article 1217

Effects of payment by a solidary debtor
1. Between the solidary debtors and creditor(s)
 –payment made by one of the solidary debtor extinguishes the obligation. However, the creditor for his protection is given the right to choose which offer to accept if two or more solidary debtors offers to pay. 2. Among the solidary debtors 

–after payment of the debt, the paying solidary debtor can demand reimbursement from his co-debtors for their proportionate shares with (legal) interest only from the time of payment. Their liability is based upon the payment made by the co-debtor which creates a joint obligation of reimbursement on the part of the others. However, in case of insolvency of any solidary debtors, the others assume the share of the insolvent one pro rata. 3. Among the solidary creditors 

  –the receiving creditor is jointly liable to the others for their corresponding shares.

Article 1218
Effect of payment after obligation has prescribed or become illegal * When the obligation has already prescribed or become illegal, the obligation is extinguished. Hence, there is no more obligation to be complied with.

Prescriptive periods of actions

By prescription, one acquires ownership and other rights through the lapse of time in the manner and under the conditions laid down by law. In the same way, rights and actions are lost by prescription.

The following actions must be brought within ten years from the time the right of action accrues:  
* Upon an obligation created by law
* Upon a judgment.
The following actions must be commenced within six years:

* Upon an oral contract

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