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    joessel ebol
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    1. Three people borrowed money from X and signed a promissory note making them jointly and severally liable. However, the note stipulated different payment dates for each borrower. When X demanded full payment from the first borrower on their payment date, only partial payment was made. X is not able to compel full payment from the first borrower yet as the other payment dates have not passed. 2. A court judgement required a debtor to pay P6,000 but they later agreed to reduce the amount to P4,000. This does not constitute an implied novation and extinction of the original obligation, as the obligations are compatible with each other and the original obligation still exists for the reduced amount.

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    1. Three people borrowed money from X and signed a promissory note making them jointly and severally liable. However, the note stipulated different payment dates for each borrower. When X demanded full payment from the first borrower on their payment date, only partial payment was made. X is not able to compel full payment from the first borrower yet as the other payment dates have not passed. 2. A court judgement required a debtor to pay P6,000 but they later agreed to reduce the amount to P4,000. This does not constitute an implied novation and extinction of the original obligation, as the obligations are compatible with each other and the original obligation still exists for the reduced amount.

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    1K views3 pages

    Assignment 2

    Uploaded by

    joessel ebol
    1. Three people borrowed money from X and signed a promissory note making them jointly and severally liable. However, the note stipulated different payment dates for each borrower. When X demanded full payment from the first borrower on their payment date, only partial payment was made. X is not able to compel full payment from the first borrower yet as the other payment dates have not passed. 2. A court judgement required a debtor to pay P6,000 but they later agreed to reduce the amount to P4,000. This does not constitute an implied novation and extinction of the original obligation, as the obligations are compatible with each other and the original obligation still exists for the reduced amount.

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    © All Rights Reserved
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    of 3

    Joessel Ann C.

    Ebol

    Law and Oblicon

    Assignment 2

    1. A, B and C borrowed P12,000 from X. This debt is evidenced by a promissory note wherein
    the three bound themselves to pay the debt jointly and severally. However, according to the
    note, A can be compelled to pay only on June 15, 1962, B can be compelled to pay only on June
    15, 1964, while C can be compelled to pay only on June 15, 1966. On June 15, 1962, X made a
    demand upon A to pay the entire indebtedness but the latter aid only P4,000. Subsequently,
    because of A’s refusal to pay the balance, X brought an action against him for collection of the
    amount. Will such an action prosper? Reasons. (20 pts)

    ANSWER: No , under article 1211 state that solidarity may exist although the creditor and the
    debtors may not be bound in the same manner and by the same periods and condition. It
    means that the creditor may demand only if it is due however he may demand against any
    debtors or recover all the amount after all are already due and demandble and unpaid
    pertaining to the share But here , the date are not yet due thus he cannot compel to A to pay
    the balance which are not yet due.

    2. Suppose that under an obligation imposed by a final judgement, the liability of the judgement
    debtor is to pay the amount of P6,000 but both the judgement debtor and the judgement
    creditor subsequently entered into a contract reducing the liability of the former to only P4,000
    is there and implied novation which will have the effect of extinguishing the judgement
    obligation and creating a modified obligatory relation? Reasons. (20 pts)

    ANSWER:There is no implied novation, because the old and new obligation are not
    incompatible with each other . It only potray the partial remission of P2,000 . Since then the
    amount of P4,000 is still due and demandable therefore the old obligation is extinguished by
    the new one in short there is no novation.
    3. Merle offered to sell her automobile to Violy for P60,000. After inspecting the automobile,
    Violy offered to buy it for P50,000. This offer was accepted by Merle. The next day, Merle
    offered to deliver the automobile, but Violy being short of funds, secured postponement of the
    delivery, promising to pay the price “upon arrival of the steamer, Helena” the steamer however
    never arrived because it was wrecked by a typhoon and sank somewhere off the Coast of Samar.
    (1) Is there a perfected contract in this case? Why? (2) Is the promise to pay made by Violy
    conditional or with a term? Why? (3) Can Merle compel Violy to pay the purchase price and to
    accept the automobile? Why? (20 pts)

    ANSWER: yes , there is a perfected contract because under article 1318 there is a consent of the
    contracting parties which is the meeting of the mind, object is certain and the cause of
    obligation is established . The promise made by Violy is with a term where in "upon the arrival
    of the steamer" a indefinte but sure to come. Even though the steamer was wrecked by a
    fortuitous event , it can still be compelled to deliver a thing on the same kind therefore the
    obligation is not extinguish under article 1263 . And Merlene can compel to violy to pay the
    purchase price and accept the automobile because it is in a perfected contract.

    4. What is dation in payment and how is it distinguished from assignment of property? (20 pts)

    ANSWER:They differ in terms of factor in dation payment ,it only delivered a specific property
    with the latter's consent something in full satisfaction of the obligation which is considered an
    equivalent to debts. While in assignment of property all properties of the debtor are ceded for
    the benefit of the creditor. Also, usually in dation only one creditor,presuppose insolvency and
    an act of novation while in cession they are several creditor, does not involve insolvency and is
    not an act of novation.

    5. X offered to buy the house ad lot of Y for P300,000. Since X had only P200,000 in cash at the
    time, he proposed to pay the balance of P100,000 in four (4) equal monthly installments. As the
    title to the property was to be immediately transferred to the buyer, X to secure the payment of
    the balance of purchase price, proposed to constitute a first mortgage on the property in favor
    of Y. Y agreed to the proposal so that on April 15, 1987, the contract of sale in favor of X was
    constituted and on the same date (April 15, 1987), X constituted the said first mortgage. When
    the first installment became due. X defaulted in the payment thereof. Y now brings an action to
    rescind the contract of sale, which X opposed. How would you decide the conflict? Give your
    reasons. (20 pts).
    ANSWERS: Y cant rescind the contract because there is limitation on right to demand rescission.
    The substancial violation under the general rule provides that slight breaches of the contract
    will not justify rescission.

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