This document contains a series of true/false statements regarding legal concepts related to obligations and debts under Philippine law. It addresses topics like fulfillment of conditions and their effect on obligations, presumption of fault for lost goods, responsibility for extrajudicial expenses, effects of substitution or replacement of debtors, loss of goods and extinguishment of obligations, assignment of rights between creditors, subrogation of guarantors or sureties, requirements for substitution or delegation of debtors, currency of debt payment, acceptance of third party payments, solidarity of obligations, and subrogation and condonation effects.
This document contains a series of true/false statements regarding legal concepts related to obligations and debts under Philippine law. It addresses topics like fulfillment of conditions and their effect on obligations, presumption of fault for lost goods, responsibility for extrajudicial expenses, effects of substitution or replacement of debtors, loss of goods and extinguishment of obligations, assignment of rights between creditors, subrogation of guarantors or sureties, requirements for substitution or delegation of debtors, currency of debt payment, acceptance of third party payments, solidarity of obligations, and subrogation and condonation effects.
This document contains a series of true/false statements regarding legal concepts related to obligations and debts under Philippine law. It addresses topics like fulfillment of conditions and their effect on obligations, presumption of fault for lost goods, responsibility for extrajudicial expenses, effects of substitution or replacement of debtors, loss of goods and extinguishment of obligations, assignment of rights between creditors, subrogation of guarantors or sureties, requirements for substitution or delegation of debtors, currency of debt payment, acceptance of third party payments, solidarity of obligations, and subrogation and condonation effects.
True Fulfillment of a resolutory condition extinguishes
the obligation. False Obligation arising from crime may be the subject of compensation.
False As a rule, payment of debt shall be made at the
place of business or residence of the creditor. True As a rule, the debtor is presumed to be at fault if he is in possession of the thing due at the time it was lost. True As a rule, extrajudicial expenses required of payment shall be for the account of the debtor.
True In case of substitution of the debtor by
expromision, the new debtor’s insolvency or non- fulfillment of the obligation shall not revive the liability of the old debtor. False After maturity and demand by the creditor, loss of the determinate thing constituting the object of the obligation due to fortuitous event extinguishes the obligation False In case of payment by cession, creditors acquired ownership of all properties of the debtor not exempt from execution. True If the debt produces interests, payment of the principal shall not be deemed to have been made until the interests have been covered. True Fulfillment of a suspensive condition gives rise to the obligation.
True A solidary creditor can assign his rights in the
obligation to his co-creditor even without the consent of the others. True A guarantor or surety or the owner of the mortgaged property who pays the principal obligation extinguishes the accessory contract of guaranty, surety or mortgage and he is subrogated in the rights of the creditor. True Substitution of the debtor either by expromision or delegacion, consent of the creditor is required. False Payment of debts in money shall be made in the currency stipulated by the parties. False The creditor is not bound to accept payment or performance by a third person who has interest in the fulfillment of the obligation. False If the object or prestation is indivisible, the obligation is necessarily solidary.
True A solidary debtor who pays the obligation with
the consent of his co-solidary debtors is subrogated in the rights of the solidary creditor/s. False Active solidarity means a solidary debtor, in relation to his co-debtors, possesses the character of debtor only with respect to his share in the obligation, but in relation to the common creditor/s, represents all of the other debtors. False Condonation of the principal debt carries with the extinguishment of the accessory obligation and vice-versa False Assignment of credit is synonymous with conventional subrogation