SCRIPT FOR

DATION IN PAYMENT
((( 1min 41 secs )))
SPEAKER 1: So let us now tackle about the special forms of payment, so what are the Special forms of payment?

SPEAKER 2: The special forms of payment are Dation in payment or Dation en pago, Payment by Cession, Application of payment, and Tender and
consignation.

SPEAKER 1: Let me talk about the first form of payment, the Dation in Payment or Dacion en pago.

It is a special form of payment whereby the debtor will give his property in order to satisfy his monetary debt to his creditor.

SPEAKER 2: For example, (NAME 1) is indebted of 1,000,000 to (NAME 2) but since he don’t have enough money to pay, he will use his property instead to
pay his debt.

[FILLER:

* Tao nga naguol kunohay kay utangan

* Niya kato nga tao kay naay gi permahan sa papel, titulo kunohay to sa yuta niya gihatag sa creditor
* Ipakita nga gi dawat ]

SPEAKER 1: Dation in Payment is governed by the law of sales. Meaning, the extinguishment of the obligation will only be to the extent of the property unless
the parties impliedly or expressly states that the property is already for the full payment of the obligation.

SPEAKER 2: Let’s just say the property of (NAME 1) is worth 800,000. Since this will be govern by the law of sales, (NAME 1) is still indebted of 200,000.
unless (NAME B) will consider the property as the full payment of the obligation.

[FILLER:

* (name 1) mo act kunohay og ni question siya kay 800,000 man ang worth sa property
* sad (name 2)
* (name 1) mo sigh then mo tando2, gi accept daw niya ]

SPEAKER 1: What are the difference between Dation in Payment and Sale?

SPEAKER 2: in Dation, there must be an existing debt while in sale, there was none

SPEAKER 1: In sale, if you buy something, obligations are created plus there is greater freedom in determining the price while in Dation, obligation is
extinguished and also there is lesser freedom in determining the price.
SPEAKER 2: In Dation, by giving the object or money, it will extinguish or partially extinguish the obligation. While in sale, payment will fully extinguish the
obligation.