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The Law on Obligation and Contracts

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by

Lee June

on 11 September 2013

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Transcript of The Law on Obligation and Contracts

The Law on Obligation and Contracts
Article 1280 - 1284
Section 3
ART. 1280.
ART. 1281.
ART. 1282.
ART. 1283.
ART. 1284.
Article 1280.
Notwithstanding the provisions of the preceding article, the guarantor may set up compensation as regards what the creditor may owe the principal debtor
Compensation benefits guarantor
example...
Alvin
Tito
Maya
Alvin
Tito
Owes
P10,000
Guarantor
P10,000
Owes
Article 1281.
Compensastion may be total or partial.
When the two debts are of the same amount, there is a total compensation.
Article 1282.
The parties may agree upon the compensation of debts which are not yet due.
Article 1283.
If one of the parties to a suit over an obligation has a claim for damages against the other, the former may set off by providing his right to said damages and the amount thereof.
Article 1284.
when one or both debts are rescissible or viodable, they may be compensated against each other before they are judicially rescinded or avoided.
Total and
partial compensation
Total compensation
is when the amount due are equal or of the same amount, hence both obligations are extinguished
Partial compensation
is when the amount are not the same after compensation took place, there is a balance remains
maya
Gaya
Gaya
indebted
P10,000
Due on
Dec. 19, 1990
P10,000
indebted
Due on
Dec. 19, 1990
Gaya
maya
P10,000
owe
P7,000
owe
=
=
Extinguish
Gaya
liable to Gaya of only
P3,000
Voluntaty
compensation
Gaya
maya
both owes
P10,000
to each other
=
nov. 30, 2001
dec. 19, 2001
Judicial
compensation
owes
P10,000,000
Tito
alvin
P9,000,000!!
Tito
P10,000,000!!
alvin
VS
Compensation of rescissible or voidable debts
P9,000,000!!
Tito
alvin
P10,000
owes
alvin
=
P10,000
P10,000
alvin
Tito
P10,000
Article 1280 - 1284
Section 3
THE END
Full transcript