By Standard Form Contract … Note: I do not claim ownership or copyright for the ff. Notes. Obligations (1091a) Contract- meeting of the minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service. OF CREDIT SHALL RELEASE DEBTOR, Requisites: Effect of payment – extinguish obligation, Effect of Substantial performance in good faith. Of pledge – condoned; presumption only, rebuttable, 2. needs consent of creditor– express or implied, 3.  2 obligations; 1 is extinguished & new one created, VOIDABLE – party must prove that cause is untruthful; presumption of validity but rebuttable, PRESUMED TO EXIST – burden of proof is on the person assailing its existence. Submitted by: Contract is defined as the agreement or the exchange of the promises between two or more than two parties (people) to do or not do something that is enforceable by the law which means creating some kind of legal obligations. CONDONATION/REMISSION OF THE DEBT – gratuitous abandonment of debt; right to claim; donation; rules of donation applies; express or implied, c. Tacit – voluntary destruction of instrument by creditor; made to prescribe w/o demanding, 5. Obligations arising from contracts have the force of law between the contracting parties and should be complied with in good faith. Grade Sheets were already done. (n) good customs, public order or public policy QUASI-CONTRACT (OBLIGATION EX QUASI- • Juridical relation resulting from lawful, voluntary It is the body of rules that organizes and regulates the rights and duties arising between individuals. Looks like you’ve clipped this slide to already. cases: penalty provided is iniquitous/unconscionable, With respect to parties – must be made by proper party to proper party, it must have redounded to the obligee’s benefit and only to the extent of such benefit, Incapacitated person kept the thing delivered, or, Insofar as the payment has been beneficial to him, By creditor’s conduct, debtor has been led to make the payment (estoppel), Payment by debtor must be made in good faith, Creditor must be in possession of the credit & not merely the evidence of indebtedness, With respect to time and place of payment – must be according to the obligation, In the place designated in the obligation, If there is no express stipulation and the undertaking is to deliver a specific thing – at the place where the thing might be at the moment the obligation was constituted, In other case – in the place of the domicile of the debtor, Attempt in Good Faith to perform without willful or intentional departure, Omission/Defect is technical or unimportant, Must not be so material that intention of parties is not attained, Obligor may recover as though there has been strict and complete fulfillment, less damages suffered by the obligee, Right to rescind cannot be used for slight breach, Payment is not enough to extinguish all debts, If not, creditor makes it by so stating in the receipt that he issues – unless there is cause for invalidating the contract, If neither the debtor nor creditor has made the application or if the application is not valid, then application, is made by operation of law, If debts are of the same nature and burden, application shall be made to all proportionately, creditor absent or unknown/ does not appear at the place of payment, incapacitated to receive payment at the time it is due, 2 or more creditor claiming the same right to collect, There must be a subject matter (object of the remission, otherwise there would be nothing to condone), Cause of consideration must be liberality (Essentially gratuitous, an act of liberality ), Parties must be capacitated and must consent; requires acceptance  by obligor; implied in  mortis causa & expressed inter vivos, Formalities of a donation are required in the case of an express remission, Revocable – subject to rule on inofficious donation ( excessive, legitime is impaired ) & ingratitude & condition not followed, Obligation remitted must have been demandable at the time of remission, Waivers or remission are not to be presumed generally, voluntary delivery – presumption; when evidence of indebtedness is w/ debtor – presumed voluntarily delivery by creditor; rebuttable, effect of delivery of evidence of indebtedness is conclusion that debt is condoned – already conclusion; voluntary delivery of private document, if in hands of joint debtor – only his share is condoned, if in hands of solidary debtor  – whole debt is condoned, It must take place between principal debtor & principal creditor only, The obligation involved must be same & identical – one obligation only, Revocable, if reason for confusion ceases, the obligation is revived, Both parties must be mutually creditors and debtors – in their own right and as principals, Both debts must consist in sum of money or if consumable , of the same kind or quality, Both debts are liquidated & demandable (determined), Neither debt must be retained in a controversy commenced by 3, legal – by operation of law; as long as 5 requisites concur- even if unknown to parties & if payable in diff places; indemnity for expense of exchanges; even if not equal debts – only up to concurring amount, conventional – agreement of parties is enough, forget other requirement as long as both consented, facultative – one party has choice of claiming/opposing – one who has benefit of period may choose to compensate, judicial – set off; upon order of the court; needs pleading & proof; all requirements must concur except liquidation, total – when 2 debts are of the same amount, partial – when 2 debts are not of the same amount, with consent of debtor – debtor is estopped unless he reserves his right & gave notice to assignee, with knowledge but w/o consent of debtor – compensation may be set up as to debts maturing prior to assignment, w/o knowledge – compensation may be set-up on all debts prior to his knowledge, intent to extinguish old obligation – expressed or implied: completely/substantially incompatible old and new obligation on every point, capacity & consent of parties to the new obligation. Potestative – dependent on sole will of 1 party; if on part of debtor & suspensive – void, iv. Note that you can also download your contract note from our back office portal. Waiver for future negligence may be allowed in certain cases:a)     gross – can never be excused in advance; against public  policy, w/ fault or at expense of obligor/ usufructuary, a)    Various things are due but the giving principally of one is sufficient, a) Only one thing is due but a substitute may be given to render payment/fulfillment easy, b)    If one of prestations is illegal, others may be valid but obligation remains, b) If principal obligations is void and there is no necessity of giving the substitute;  nullity of P carries with it nullity of S, c) If it is impossible to give all except one, the last one must still be given, c)    If it is impossible to give the principal, the substitute does not have to be given; if it is impossible to give the substitute, the principal must still be given, d)  Right to choose may be given either to debtor or creditor, d) The right of choice is given only to the debtor, b. accessory – principal still outstanding, c. accessory oblig. 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