Reviewer in LawObli
DIFFERENT KINDS OF OBLIGATIONS
Pure obligation- is one which is not subject any condition and no specific date is mentioned for its fulfillment and is, therefore, immediately demandable.
Conditional obligation- is one whose consequences are subject In one way or another to the fulfillment of a condition.
Condition- is a future and uncertain event, upon the happening of which, the effectivity or extinguishment of an obligation subject to it depends.
Future and uncertain- in order to constitute an event as a condition, it is not enough that it be future; it must also be uncertain.
Past but unknown- a condition may refer to a past even unknown to the parties. A condition must not be impossible.
Suspensive condition- (condition precedent or condition antecedent) or one the of which will give rise to an obligation.
Resolutory condition- (condition subsequent) or one the fulfillment of which will extinguish an obligation already existing.
Period- is a future and certain event upon the arrival of which the obligation subject to it either arises or is extinguished.
The debtor promises to pay when his means permit him to do so—the obligation shall be deemed to be one with a period.
Other cases—as when the debtor binds himself to pay:
-little by little
-as soon as possible
-from time to time
-at any time I have the money
-in partial payments
-when I am in a position to pay
Acquisition of rights- in obligations subject to a suspensive condition, the acquisition of rights by the creditor depends upon the happening of the event which constitutes the condition
Loss of rights already acquired- in obligations subject to a resolutory condition, the happening of the event which constitutes the condition produces the extinguishment or loss of rights already acquired.
Classification of conditions
1. As to effect:
a. Suspensive- the happening of which gives rise to the obligation b. Resolutory- the...
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