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Module 5

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21 views

Module 5

Uploaded by

hilldeguzman510
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Republic of the Philippines

POLYTECHNIC UNIVERSITY OF THE PHILIPPINES-BATAAN BRANCH


Mariveles, Bataan

BUSINESS LAW (OBLIGATIONS AND CONTRACTS)


LAW 20053
Module # 5

Overview

This Module discusses how Obligations are fulfilled and/or extinguished, the
several ways on that end, particularly Payment/Performance, Loss of the
Thing Due, and Condonation or Remission of Debt. This module also
discusses several topics in Payment particularly Application of Payments,
Payment by Cession, and Tender of Payment and Consignation.

Module Objective

At the end of this module, you are expected to:

1. Have clear understanding of the several modes


extinguishment of obligations as discussed in this module;
and

2. Give concrete examples of the said modes of extinguishment


of obligations.

Reading Assignment

Extinguishment of Obligations (Art. 1231)


Payment or Performance; Application of Payments; Payment by Cession;
Tender of Payment and Consignation (Art. 1232-1261)
Loss of the Thing Due (Art. 1262-1269)
Condonation or Remission of Debt (Art. 1270-1274
Pages 201-263, Recommended Book

Questionnaire

Define. (10 pts)

1. Payment
2. Free Disposal of the Thing Due
3. Legal Tender
4. Dation in Payment
5. Payment by Cession
6. Tender of Payment
7. Consignation
8. Dation in Payment
9. Judicial Costs
10. Condonation

Enumerate. (35 pts.)

1. Requisites to consider debt paid. (2 pts.)


2. Persons from whom the creditor must accept payment. (3 pts.)
3. Persons to whom payment shall be made. (3 pts.)
4. When will payment by means of mercantile instrument extinguish an
obligation? (2 pts.)
5. Requisites of Application of Payment. (5 pts.)
6. Requisites of Payment by Cession. (4 pts.)
7. Requisites of Valid Consignation. (5 pts.)
8. Requirement for valid Tender of Payment. (3 pts.)
9. When Loss of Thing will Extinguish Obligation to Give. (3 pts.)
10. Requisites of Condonation or Remission. (5 pts.)

Essay. (15 pts.)

1. A obliges himself to paint the house of B white. B will in turn pay him
PhP 10,000 for the work. A used pink paint instead of white.

a. Is there performance? Explain (2.5 pts.)

b. Give an instance that B may still pay A for the job done.
Explain (2.5 pts.)

2. Eliara and Eleazar agreed to the Sale of Eleazar’s lot in Balanga City
for PhP 2 Milllion, as stated in their Deed of Sale. Both agreed that after
ten (10) days, Eliara will pay the said amount in cash while Eleazar will
deliver the title of the lot. However, Eleazar changed his mind so much
so that on the day of payment, he refused to accept the PhP 2 million
cash from Eliara. What must Eliara do? Explain. (5 pts.)

3. Deidara owes Itachi PhP 50,000 in payment for which Deidara pays the
same with a check.

a. Can Deidara insist that Itachi accept the check? Explain. (2.5
pts.)

b. Suppose Itachi accepts the check, is Deidara cleared of his


obligation? Explain. (2.5 pts.)

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