Oral Recit

- For whom is the benefit of the Period or Term?
When a period has been agreed upon for the performance or fulfillment of an obligation, it is presumed
to have been established for the benefit of both the creditor and the debtor.
Whenever in an obligation a period is designated, it is presumed to have been established for the
benefit of both the creditor and the debtor, unless from the tenor of the same or other circumstances it
should appear that the period has been established in favor of one or of the other.
https://www.projectjurisprudence.com/2021/10/benefit-of-period.html
If the period is for the benefit of either of the creditor or debtor, the creditor may demand the
fulfillment or performance of the obligation at any time but the obligor cannot compel him to accept
payment before the expiration of the period and the debtor may oppose any premature demand on the
part of the obligee for the performance of the obligation, or if he so desires, he may renounce the
benefit of the period by performing his obligation in advance.
- When does the Debtor lose the benefits of the Period?
If the period is for the benefit of the debtor alone, he shall lose every right to make use of it: (a) when
after the obligation has been contracted, he becomes insolvent, unless he gives a guaranty or security
for the debt; (b) when he does not furnish to the creditor the guaranties or securities which he has
promised; (c) when by his own acts he has impaired said guaranties or securities after their
establishment, and when through a fortuitous event they disappear, unless he immediately gives new
ones equally satisfacto' ry; (d) when the debtor violates any undertaking, in consideration of which the
creditor agreed to the period; (e) when the debtor attempts to abscond [1] (f) when required by law or
stipulation; and (g) if parties stipulated an acceleration clause.
- In Alternative Obligations, who has the Right to Choose?
An alternative obligation is one wherein various prestations are due but the performance of one of them
is sufficiently determined by the choice which, as a general rule, belongs to the debtor. The right of
choice belongs to the debtor, unless it has been expressly granted to the creditor.
- Reciprocal Obligations are to be performed Simultaneously
Reciprocal obligations are those which arise from the same cause, and in which each party is a debtor
and a creditor of the other, such that the obligation of one is dependent upon the obligation of the
other. They are to be performed simultaneously, so that the performance of one is conditioned upon
the simultaneous fulfillment of the other. In reciprocal obligations, neither party incurs in delay if the
other does not comply or is not ready to comply in a proper manner with what is incumbent upon him.
From the moment one of the parties fulfills his obligation, delay by the other begins.
- What is the difference between a Joint and a Solidary Obligation?
JOINT OBLIGATION - it is one wherein a debtor is obliged to pay a portion of the full amount of debt that
corresponds only to his share. Likewise, the joint creditor can only demand a portion of the full amount
that corresponds to his share.
For an instance, A and B contracted a loan amounting to P10 million from X. A received a share
amounting to P6 million while B received an amount equal to P4 million. When the obligation came due,
A is only obliged to pay an amount corresponding to his share of the loan, which is P6 million.
SOLIDARY OBLIGATION - refers to a kind of obligation wherein either one of the creditors has the right
to demand full compliance of the obligation from either one of the solidary debtors.
For an instance, in a loan contract, A and B borrowed an amount equal to P10 million and agreed to pay
the said amount solidarilly to X and Y, who are also solidary creditors. A received P6 million while B
received P4 million. When the contract came due, either X or Y can compel any of A and B to pay the
whole amount of P10 million, regardless of their share. The one who paid the whole amount will just
reimburse the share received by the other debtor.
- Effects of the Solidary Liability of a Corporation with that of the Security Agency
- Manager-Employer may be held jointly and severally-liable for corporate obligations
- Purpose of the Penal Clause
The penal clause is written into the contract to punish the obligor in case of breach of the principal
obligation (punitive).
A penalty clause is a contractual clause that imposes liquidated damages that are unreasonably high and
represent a punishment for breach, rather than a reasonable forecast of damages for the harm that is
caused by the breach, are referred to as penalty clauses.
- Instances when additional damages may be demanded

In crimes, the damages to be adjudicated may be respectively increased or lessened according to the
aggravating or mitigating circumstances.
- When Penalty may be Reduced?
The judge shall equitably reduce the penalty when the principal obligation has been partly or irregularly
complied with by the debtor. Even if there has been no performance, the penalty may also be reduced
by the courts if it is iniquitous or unconscionable
The instances are:
If the principal obligation has been partly complied with.
If the principal obligation has been irregularly complied with.
If the penalty is iniquitous or unconscionable, even if there has been no performance.
- Effect of Nullity
The principle of nullity prevents parties from enforcing a contract that amounts to a breach of
competition law.
personal right
right of posesion being constractively deliver
the possesion ay na apply pag hawak na or na receive.
kung sino ang mya hawak ng property sya anng may hawak.
hindi lahat ng prosesor ng property ay mayari

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- For whom is the benefit of the Period or Term?

- When does the Debtor lose the benefits of the Period?

- In Alternative Obligations, who has the Right to Choose?

- Reciprocal Obligations are to be performed Simultaneously

- What is the difference between a Joint and a Solidary Obligation?

- Manager-Employer may be held jointly and severally-liable for corporate obligations

- Purpose of the Penal Clause

- Instances when additional damages may be demanded

- When Penalty may be Reduced?

The instances are:

If the principal obligation has been partly complied with.

If the principal obligation has been irregularly complied with.

If the penalty is iniquitous or unconscionable, even if there has been no performance.

right of posesion being constractively deliver

the possesion ay na apply pag hawak na or na receive.

hindi lahat ng prosesor ng property ay mayari

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