Topics: Debt, Debtor, Creditor Pages: 6 (1892 words) Published: June 20, 2015
1. PURE OBLIGATION – one without a term or is it a subject to a condition and is immediately demandable. 2. CONDITIONAL OBLIGATION – one which is subject to a condition. (a). SUSPENSIVE CONDITION - one which suspends the effectivity of the obligation until the condition is fulfilled. The fulfillment of the condition produces the efficacy of the obligation. (b). RESOLUTORY – one which extinguishes the obligation upon the happening of the condition. The obligation is immediately demandable. 3. WITH A PERIOD

4. ALTERNATIVE – obligation wherein various things are due, but the payment of one of them is sufficient, determined by the choice which as a general rule belong to the debtor. 5. JOINT – each of the debtor is liable only for a proportionate part of the debt and each creditor is entitled only to a proportionate part of the credit 6. SOLIDARY – each debtor is liable for the entire obligation, and each creditor is entitled to demand the whole obligation. Solidarity is classifies as: (a) ACTIVE – solidarity among creditors, (b) PASSIVE – solidarity among debtors, (c) MIXED – solidarity on the part of creditors and debtors. 7. DIVISIBLE – obligation in which is susceptible of partial performance. 8. INDIVISIBLE – an obligation not susceptible of partial performance. 9. WITH A PENAL CAUSE – an obligation with an accessory undertaking to assume greater liability in case of breach and whose purpose is to insure the performance of the obligation. 10. UNILATERAL

12. SIMPLE – only one prestation has been agreed upon.
13. COMPOUND / CONDUCTIVE – various things are due and is extinguished only by the performance of all of them. 14. POSITIVE
18. FACULTATIVE – when only one prestation has been agreed upon, but the obligor may render another in substitution. 19. RECIPROCAL
Art. 1180. 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.  Art. 1181. In conditional obligations, the acquisition of rights, as well as the extinguishment or loss of those already acquired, shall depend upon the happening of the event which constitutes the condition. NOTES:

1. POTESTATIVE – one which depends upon the sole will of the contracting parties. 2. CAUSAL – one which depends exclusively upon chance.
3. MIXED - one which depends upon the will of one of the contracting parties and partly upon chance or the will of the third person. Art. 1182. When the fulfillment of the condition depends upon the sole will of the debtor, the conditional obligation shall be void. If it depends upon chance or upon the will of a third person, the obligation shall take effect in conformity with the provisions of this Code.

Art. 1183. Impossible conditions, those contrary to good customs or public policy and those prohibited by law shall annul the obligation which depends upon them. If the obligation is divisible, that part thereof which is not affected by the impossible or unlawful condition shall be valid. The condition not to do an impossible thing shall be considered as not having been agreed upon. Art. 1184. The condition that some event happen at a determinate time shall extinguish the obligation as soon as the time expires or if it has become indubitable that the event will not take place.  Art. 1185. The condition that some event will not happen at a determinate time shall render the obligation effective from the moment the time indicated has elapsed, or if it has become evident that the event cannot occur. If no time has been fixed, the condition shall be deemed fulfilled at such time as may have probably been contemplated, bearing in mind the nature of the obligation. 

Art. 1186. The condition shall be deemed fulfilled when the obligor voluntarily prevents its fulfillment. Art. 1187. The effects of a conditional obligation to...
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