CPA Reviewer in Business Law

OBLIGATIONS & CONTRACTS

OBLIGATION- juridical necessity to give, to do
or not to do
4 ELEMENTS OF OBLIGTION! PAPE
"#$ PSSI%E S&B'E(T "de)tor*o)ligor$+,as duty to
give, do*not
"-$ A(TI%E S&B'E(T "creditor*o)ligee$ + o)ligation.s
constituted
"/$ P0ESTTION*OB'E(T + su)ject 1atter
"4$ EFFI(IENT (&SE "legal*juridical tie*vinculu1
juris$ + reason
(I%IL OBLIGTION + derived 2ro1 3ositive la4,
en2orcea)le
NT&0L OBLIGTION + derived 2ro1 e5uity*justice,
not en2or6
7 SO&0(ES OF OBLIGTION! LCQAQ
"#$ L8 + rule o2 conduct, just and o)ligatory
"-$ CONT0(TS + 1eeting o2 1inds, co13lied 4*
good 2ait,
"/$ Q&SI-(ONT0(TS + arise 2ro1 la42ul,
voluntary acts, no one s,all )e unjustly enric,ed6
- 9IN:S
N egotioru1 gestio + voluntary ad1in o2
3ro3erty*a;airs o2 anot,er 4*out
<no4ledge*consent6
S olutio Inde)iti + 3ay1ent )y 1ista<e o2 an
o)ligation 4*c 4as not due 4,en 3aid6
"4$ A(TS*(0IMES*OMISSIONS 3unis,ed )y la4 +
2elonies
"7$ Q&SI-:ELI(TS*TO0TS*(&L= >&ILIN + arise
2ro1 da1age? 2ault*negligence6
NT&0E N: EFFE(T OF OBLIGTIONS! DG
DETE0MINTE + 3articularly designated*3,ysically
segregated6
0ule! T,e loss o2 deter1inate t,ing t,roug, a
2ortuitous event e@tinguis,es t,e o)ligation6
GENE0I(- not 3articularly designated*not 3,ysically
segregated6
OBLIGTIONS OF :EBTO0 TO GI%E :ETE0MINTE
TAING
"#$ To ta<e good care o2 t,e t,ing 4it, t,e diligence
o2 a good 2at,er o2 a 2a1ily unless t,e la4 or )y
agree1ent re5uires anot,er standard o2 care
"slig,t*e@traordinary diligence$6
"-$ To deliver t,e t,ing6
"/$ To deliver t,e 2ruits o2 t,e t,ing6
/ 9IN:S OF F0&ITS
"a$ Natural + 3roduct o2 soil B ani1als
")$ Industrial + 3roduced )y intervention o2
,u1an
"c$ (ivil + result o2 a juridical relation
0IGATS OF TAE (0E:ITO0
"a$ =ersonal rig,t*jus in 3ersona1*jus ad
re1
-rig,t o2 creditor to de1and delivery
")$ 0eal rig,t* jus in re
-rig,t en2orcea)le against t,e 4,ole
4orld
"4$ To deliver its accessions and accessories even
not 1ention6
0EME:IES OF TAE (0E:ITO0 IF :EBTO0 FILS TO
=E0FOM AIS OBLIGTION!
"#$ to deliver a deter1inate t,ing
"a$ to co13el to 1a<e t,e delivery
")$ to de1and da1ages
"-$ to deliver a generic t,ing
"a$ to as< t,e o)ligation )e co13lied-
de)tor.s e@3ense
")$ to de1and da1ages
"/$ in o)ligations to do
"a$ i2 2ails to 3er2or1 o2 3er2or1 it )ut
contravenes t,e tenor! ,e 1ay t,e
o)ligation to )e e@ecuted at de)tor.s
e@3ense, 1ay also de1and da1ages6
")$ i2 3er2or1s t,e o)ligation )ut does it
3oorly! t,e creditor 1ay ,ave t,e sa1e )e
undone at de)tor.s e@3ense, 1ay also
de1and da1ages
"4$ i2 t,e de)tor does 4,at ,as )een 2or)idden ,i1
"a$ 1ay de1and t,at 4,at ,as )een done
)e undone
")$ 1ay also de1and da1ages
G0O&N:S FO0 LIBILITC TO =C :MGES
"#$ F0&:
"-$ NEGLIGEN(E
"/$ :ELC
"4$ (ONT0%ENTION OF TAE TENO0 OF TAE
OBLIGTION
:MGES +,ar1 done B su1 o2 1oney t,at 1ay
)e recovered6
D 9IN:S OF :MGES! MENTAL
"#$ MO0L :MGES + 3,ysical su;ering, 1ental
anguis,, etc66
"-$ EEEM=L0C*(O00E(TI%E + )y correction 2or
3u)lic good
"/$ NOMINL + da1ages to vindicate a rig,t6
Believe in yourself tht you !n "o it# $ve fith% &ry n" see' $IS (ui"n!e# Stu"y n" &ry
the hr"iest) A* to CPA)))
CPA Reviewer in Business Law
"4$ TEM=E0TE*MO:E0TE+ F t,an no1inal G t,an
actual
"7$ A(T&L*(OM=ENSTO0C+3ecuniary loss, 1ay
)e recovered
"D$ LI>&I:TE: + to )e 3aid in case o2 )reac,
/ GENE0L 9IN:S OF F0&:
"#$ F0&: IN OBTINING (ONSENT
"a$ (&SL F0&: or :OLO (&SNTE + consent
4ould not ,ave )een given? contract %OI:BLE
")$ IN(I:ENTL F0I: or :OLO IN(I:ENTE +
consent 4ould ,ave still )een given )ut t,e 3erson
giving it 4ould ,ave agreed on di;erent ter1s?
contract %LI:, t,e 3arty e13loying it lia)le 2or
da1ages6
"-$ F0&: IN TAE =E0FO0MN(E OF TAE
OBLIGTION
"/$ ((O0:ING TO TIME OF (OMMISSION
"a$ F&T&0E F0&: +a 4aiver o2 an action 2or 2uture
2raud cannot )e 1ade? 4aiver is +OID% "e,tor is
li,le for "-(es
")$ =ST F0&: +a 4aiver 2or 3ast 2raud 1ay )e
1ade since t,e co11ission can no longer )e
encouraged? an act o2 li)erality on t,e 3art o2
creditor6
NEGLIGENCE + t,e o1ission o2 t,at diligence
4,ic, is re5uired )y t,e nature o2 t,e o)ligation
and corres3onds 4it, t,e circu1stances o2 t,e
3erson, ti1e and 3lace6
/ 9IN:S OF NEGLIGEN(E
"#$ (&L= (ONT0(T&L "(ONT0(T&L
NEGLIGEN(E$ + negligence in t,e 3er2or1ance o2
t,e contract? 1aster-servant rule a33lies "t,e neg
o2 t,e servant is t,e neg o2 t,e 1aster$
"-$ (&L= >&ILIN "(I%IL
NEGLIGEN(E*TO0T*>&SI-:ELI(T*(&L= EET0-
(ONT0(T&L$
"/$ (&L= (0IMINL "(0IMINL NEGLIGEN(E$
DELA. /DE0A1LT OR MORA2 + non-2ulHll1ent o2
an o)ligation 4it, res3ect to ti1e6
/ 9IN:S OF :ELC
"#$ MO0 SOL%EN:I + delay on t,e 3art o2 t,e
de)tor
"a$ E@ re + real o)ligations "o)ligations to
give$
")$ E@ 3ersona + 3ersonal "o)ligations to do$
"-$ MO0 ((I=IEN:I + delay on t,e 3art o2 t,e
creditor
"/$ (OM=ENSTIO MO0E + )ot, 3arties are in
de2ault
General 0ule! "NO :EMN:, NO :ELC$
/ 0E>&ISITES OF :ELC!
"#$ :e)tor does not 3er2or1 ,is o)ligation on due
date
"-$ (reditor de1ands t,e 3er2or1ance o2 t,e
o)ligation
"/$ :e)tor does not co13ly t,e creditor.s de1and
EE(E=TIONS! :ELC 8ILL EEIST E%EN 8*O&T
:EMN:!
"#$ 8,en t,e la4 so 3rovides
"-$ 8,en t,e o)ligation e@3ressly so declares
"/$ 8,en t,e ti1e is t,e essence o2 t,e contract
"4$ 8,en de1and 4ould )e useless
"7$ 8,en t,e o)ligation arise out o2 t,e sa1e cause
and 1ust )e 2ulHlled at t,e sa1e ti1e6
EFFE(TS OF :ELC
"#$ :e)tor s,all )e lia)le 2or 3ay1ent o2 da1ages
"-$ I2 o)ligation is deter1inate, ,e s,all )e
res3onsi)le 2or any 2ortuitous event until ,e ,as
e;ected t,e delivery6
0ORT1ITO1S E+ENTS + could not )e 2oreseen, or
4*c, t,oug, 2oreseen, are inevita)le6
General 0ule! No one is lia)le 2or 2ortuitous events6
O)ligation 4ill )e e@tinguis,ed6
E@ce3tions!
"#$ 8,en t,e la4 e@3ressly 3rovides
"-$ 8,en t,e 3arties declared lia)ility even in case
o2 FE
"/$ 8,en t,e nature o2 t,e o)ligation re5uires t,e
assu13tion o2 ris<6
0EME:IES OF (0E:ITO0 TO ENFO0(E =CMENT OF
AIS (LIMS GINST :EBTO0
"#$ =ursue t,e 3ro3erty in t,e 3ossession o2 t,e
de)tor, e@ce3t t,ose e@e13t )y la46
"-$ E@ercise all t,e rig,ts and )ring all t,e actions
o2 t,e de)tor e@ce3t t,ose 3ersonal to ,i1 "accion
su)rogatoria$
"/$ I13ugn t,e acts 4it, t,e de)tor 1ay ,ave done
to de2raud ,is creditors "accion 3auliana$
0&LE ON T0NSMISSIBILITC OF 0IGATS N:
EE(E=TIONS!
General 0ule! ll rig,ts ac5uired in virtue o2 an
o)ligation are trans1issi)le6 "T,us, t,e creditor
1ay assign ,is credit to a t,ird 3erson or to ,is
,eirs u3on ,is deat,$6
E@ce3tion!
Believe in yourself tht you !n "o it# $ve fith% &ry n" see' $IS (ui"n!e# Stu"y n" &ry
the hr"iest) A* to CPA)))
CPA Reviewer in Business Law
"#$ I2 t,e la4 3ro,i)its t,e trans1ission o2 t,e rig,t
"-$ I2 t,e 3arties agreed t,e trans1ission
"/$ I2 t,e rig,t is )y nature not trans1issi)le
:IFFE0ENT 9IN:S OF OBLIGTIONS
"#$ =ure O)ligation and "-$ (onditional O)ligation
"/$ O)ligation 4it, a =eriod
"4$ lternative O)ligation and "7$ Facultative
O)ligation
"D$ 'oint O)ligation and "I$ Solidary O)ligation
"J$ :ivisi)le O)ligation and "K$ Indivisi)le
O)ligation
"#L$ O)ligation 4it, a =enal (lause
"#$ =ure O)ligation + one 4*out a ter1 or condition
and de1anda)le at once6
"-$ (onditional O)ligation + one 4,ose
de1anda)ility or e@tinguis,1ent de3ends u3on t,e
,a33ening o2 a condition6
(lassiHcation!
"a$ Sus3ensive and resolutory
Sus3ensive + ,a33ening o2 4*c gives rise to
o)ligation
0esolutory + ,a33ening o2 4*c e@tinguis,es t,e
o)lig6
")$ =otestative, casual and 1i@ed
"#$ =otestative + u3on t,e 4ill o2 one o2 t,e
3arties6
"a$ On t,e 3art o2 t,e de)tor +
"#$ Sus3ensive + O)ligation is %OI:
"-$ 0esolutory + O)ligation is %LI:
")$ On t,e 3art o2 t,e creditor + t,e
o)ligation is %LI:
"-$ (asual + &3on t,e c,ance*4ill o2 t,ird
3erson
"/$ Mi@ed + u3on t,e 4ill o2 t,e 3arties or t,e
/
rd
3erson
"c$ =ossi)le and i13ossi)le
=ossi)le + ca3a)le o2 2ulHll1ent in its nature
and )y la46
I13ossi)le + not ca3a)le
"d$ =ositive and Negative
"e$ :ivisi)le and indivisi)le
:ivisi)le + ca3a)le o2 3artial 3er2or1ance
Indivisi)le + not ca3a)le o2 3artial
3er2or1ance
0&LES IN (SE OF TAE FOLLO8ING BEFO0E TAE
F&LFILLMENT OF TAE S&S=ENSI%E (ON:ITION!
"#$ LOSS OF TAE TAING
"a$ 4*out de)tor.s 2ault + o)ligation.s
e@tinguis,ed
")$ 4* de)tor.s 2ault + de)tor.s o)liged to
3ay da1ages
t,ing is lost 4,en it 3eris,es, or goes out o2
co11erce or disa33ears in suc, a 4ay t,at its
e@istence is un<no4n or it cannot )e recovered6
"-$ :ETE0IO0TION OF TAE TAING
"a$ 4*out de)tor.s 2ault + t,e i13air1ent
s,all )e )orne )y t,e creditor? to de)tor.s lia)ility
2or da1ages6
")$ 4* de)tor.s 2ault + t,e creditor 1ay
c,oose!
#6$ 0ecission, 3lus da1ages
-6$ FulHll1ent 3lus da1ages
"/$ IM=0O%EMENT OF TAE TAING
"a$ By nature or )y ti1e + t,e i13rove1ent s,all
inure to t,e )eneHt o2 t,e creditor6
")$ t t,e e@3ense o2 t,e de)tor + t,e de)tor 4ill
,ave t,e rig,ts granted to a usu2ructuary, e6g!
"#$ can enjoy t,e use o2 t,e i13roved t,ing
"-$ can re1ove t,e i13rove1ent i2 no
da1ages is caused to t,e 3rinci3al
Believe in yourself tht you !n "o it# $ve fith% &ry n" see' $IS (ui"n!e# Stu"y n" &ry
the hr"iest) A* to CPA)))