Essential requisites of an obligation.
One point one point two Sources of Obligations
Thing: Specific or Determinate
Two. Ancillary: (Article one thousand one hundred seventy-seven)
DIFFERENT KINDS OF OBLIGATIONS
Two. Secondary classification
Pure and Conditional Obligations - As to Perfection and Extinguishment
Retroactive Effects in Suspensive Conditions
ARTICLE one thousand one hundred ninety-six - Benefit of the Period
ARTICLE one thousand one hundred ninety-eight - Debtor's Loss of Benefit of the Period
Alternative and Facultative Obligations
Obligations with a Penal Clause
Proof of actual damages suffered by the Creditor:
Nullity of the Penal Clause
Nullity of the Obligation
Payment of PENALTY instead of fulfillment of the obligation
Reduction of Penalty: The courts can reduce the penalty whenever:
EXTINGUISHMENT OF OBLIGATIONS
The following are other causes of extinguishment of obligations governed elsewhere in this Code
Payment or Performance means:
(One) Provisions as to the Payor
Payment to a third person
Negotiable Instruments and Checks
Dacion in Payment versus Cession or Assignment
(Three) Condonation or Remission of the Debt