Chapter 2 (Section 2) Study Guide I

Chapter 2 (Section 2)
STUDY GUIDE
I. Definition
Define or give the meaning of the following:
1. Obligation with a period
- An obligation with a period is a kind of obligation wherein its performance is
subject to a term or period and can only be demandable when that period
expires. Such period is 'a day certain' which must necessarily come, although
it may not be known when.
2. Period
- A period fixes the time for the performance of an obligation. It does prevent
its existence (suspensive) and conception in due time (resolutory). a condition
causes the existence or the extinguishment of an obligation.
3. Indefinite Period
- An indefinite period is when it is not fixed, or it is not known when it will
come. Where the period is not fixed but a period is intended, the courts are
usually empowered by law to fix the same.
II. Discussions
1. Has the debtor the right to recover what he has paid to the creditor before the
arrival of the period agreed upon? Explain.
- “Article 1195, anything paid or delivered before the arrival of the period, the
obligor being unaware of the period or believing that the obligation has
become due and demandable, may be recovered, with the fruits and interests.”
2. If an obligation does not state a period for its performance, has a party the right to
ask a court to fix a period or the duration thereof? Explain.
- “Article 1197, if the obligation does not fix a period, but from its nature and
the circumstances it can be inferred that a period was intended, the courts may
fix the duration thereof.” The courts shall also fix the duration of the period
when it depends upon the will of the debtor. In every case, the courts shall
determine such period as may under the circumstances have been probably
contemplated by the parties. Once fixed by the courts, the period cannot be
changed by them.
3. Give the causes when the obligee can demand the performance of an obligation
even before the arrival of the period agreed upon.
- The debtor shall lose every right to make use of the period: When after the
obligation has been contracted, he becomes insolvent, unless he gives a
guaranty or security for the debt; When he does not furnish to the creditor the
guaranties or securities which he has promised; 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 satisfactory; When the debtor violates any undertaking, in
consideration of which the creditor agreed to the period; When the debtor
attempts to abscond.
III. Problems
Explain or state briefly the rule or reason for your answer.
1. D (debtor) borrowed P10,000 from C (creditor) at 15% interest per annum
payable on December 31. Can D require C to accept payment before December
31?
- C cannot compel D to pay before December 31. Neither can D pay before the
expiration of the term without the consent of C. It is presumed that the period
designated, which is December 31, has been established for the benefit of
both. D is benefited because he can use the money for one year. C is also
benefited because of the interest the money would earn for one year.
2. D binds himself to give P10,000 to C upon the death of the father of D. Is the
obligation of D conditional or one with a period?
- It is a conditional one. This is because D will only give P10,000 to C if D's
fathers die. If he does not die the money will not be given to C.
3. D obtained a loan from C in the amount of P50,000, payable on August 10. As
security for his debt, D mortgaged his car in favor of C. The car, however, was
substantially damaged without the fault of D. What rights, if any, does C have
under the law? May C demand payment from D even before August 10?
- The obligation becomes demandable unless D gives a new security equally
satisfactory. C can demand payment from D even before August 10 because
of the impairment of D’s security.

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