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
(A) 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
(C) ALTERNATIVE AND FACULTATIVE OBLIGATIONS
(F) 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
Payment / Performance means:
(One) Provisions as to the Payor
if it rebounds to the benefit of the creditor (benefit must be proven)
Negotiable Instruments and Checks
a) Dation in Payment (Dacion en pago)
b) Application of Payments
c) Payment by Cession or Assignment (Cession en pago)
Dacion in Payment versus Cession or Assignment
(Three) Condonation or Remission of the Debt