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Understanding Obligations with a Period

Sep 21, 2024

Lecture Notes: Obligations with a Period

Introduction

  • Speaker: Attorney Marie-Kris Batan Lasco
  • Objective: Simplify law concepts and principles.
  • Focus of video: Obligations with a Period

Definition

  • Period: A future and certain event that affects the demandability of an obligation or its extinguishment.
    • Different from a Condition: Future and uncertain event.

Article 1193 Overview

  • Paragraph 1: Obligations are demandable on the arrival of a specific day (suspensive).
    • Example: Promise to pay 20,000 pesos on December 25, 2023.
  • Paragraph 2: Obligations that take effect immediately but terminate upon the arrival of a specified day (resolutory).
    • Example: Monthly allowance of 10,000 pesos until December 31, 2024.

Types of Periods

  1. Suspensive Period: Obligation becomes demandable upon arrival of the period.
  2. Resolutory Period: Obligation is extinguished upon arrival of the period.

Classification of Periods

  • Definite Period: A specific future date, e.g., "one year from today."
  • Indefinite Period: Certain future event without a known date, e.g., "when my pet rabbit dies."
  • Sources of Period:
    • Conventional: By agreement of parties.
    • Legal: Provided by law.
    • Judicial: Determined by court.

Consequences of Obligations with a Period

  • Early Payment:
    • Article 1195: Allows recovery of payment made before period due if unaware it was early.
    • Recovery includes interest from erroneous payment to recovery date.
  • Article 1196: Period benefits both debtor and creditor unless specified otherwise.
    • Neither party can compel the other to pay or accept payment before the period.
    • Exception: If the period benefits only one party, e.g., "on or before" terms favor debtor.

Conclusion

  • General Rule: Period benefits both creditor and debtor.
  • Exceptions: Periods specifically set to favor one party.
  • Encouragement to subscribe for more legal explanations and upcoming videos.
  • End of the session with a reminder to like and subscribe.

Note: This lecture simplifies complex legal principles into digestible segments, focusing on the impact and classification of periods in legal obligations.

Full transcript