Chapter 4.Pdf

Total Page:16

File Type:pdf, Size:1020Kb

Chapter 4.Pdf C H A P T E R 4 ART. 1235 When the obligee accepts the performance, knowing its EXTINGUISHMENT OF OBLIGATIONS incompleteness or irregularity, and without expressing any protest or objection, the obligation is deemed fully complied with. GENERAL PROVISIONS GENERAL RULE ART. 1231 An obligation is understood to have been paid or performed when: Obligations are extinguished: TO GIVE 1. By the payment or performance; The debtor or obligor has completely delivered the thing which he 2. By the loss of the thing due; had obligated himself to deliver. 3. By the condonation or remission of the debts; TO DO 4. By the confusion or merger of the rights of the creditor and The obligor has completely rendered the service which he had debtor; obligated himself to render. 5. By compensation; NOT TO DO 6. By novation. The obligor has completely refrained from doing that which he Other causes of extinguishment of obligations, such as annulment, had obligated himself not to do. rescission, fulfillment of resolutory condition, and prescription, are governed elsewhere in this Code. EXCEPTIONS [SAC] 1. When the obligation has been substantially performed in good EXTINGUISHMENT OF OBLIGATIONS (PaL C3 NARF Pre) faith. 1. Payment or performance REASON: In the case of substantial performance, the obligee is 2. Loss of the thing due benefited. 3. Condonation or remission 2. When the obligee accepts the performance, knowing its 4. Confusion or merger incompleteness or irregularity, and without expressing any protest 5. Compensation or objection. 6. Novation REASON: Base on the principle of estoppels. 7. Annulment 3. When the obligation to give, to do or not to do is converted into an 8. Rescission obligation to indemnify the obligee or creditor because of breach 9. Fulfillment of resolutory condition or non-fulfillment. 10. Prescription NOTE: For payment to properly exist, the creditor has to accept the same, OTHER FORMS OF EXTINGUISHMENT (FC - MAID) expressly or implicitly. Payment, for valid reasons, may properly be rejected. 1. Happening of fortuitous event (Art. 1174) 2. Compromise (Art. 2028) BURDEN OF PROVING PAYMENT 3. Mutual desistance or withdrawal GENERAL RULE 4. Arrival of resolutory period (Art. 1193, par. 2) Debtor has the burden of showing with legal certainty that the 5. Impossibility of fulfillment of condition (Art 1266) obligation has been discharged by payment. 6. Death, for personal or intransmissible obligation. (Art. 1311 par. 1) EXCEPTION When the debtor introduces evidences that the obligation has been Illustration of Death: extinguished, the burden shifts to the creditor. On 1 Jan 2017, A promised to B the amount of P5M to be paid on 31 3 Dec. 2018. On 1 June 2017, A died leaving X as the only heir. REQUISITES OF PAYMENT [I FCM] B cannot compel X to pay the debt of his father for Art. 1178 states that 1. Identity – only the prestation agreed upon and no other must be only rights shall be transmissible, obligation not included. complied with; 2. Integrity/Completeness – the thing or service must be completely delivered or rendered; 3. Intention – the debtor must have the intention to fulfill the obligation; S E C T I O N 1 4. Free and voluntary fulfilled. PAYMENT OR PERFORMANCE 5. The debtor and creditor must have the capacity to give and receive the payment respectively; 6. Must be made by the proper payor to proper payee. ART. 1232 KINDS OF PAYMENT Payment means not only the delivery of money but also the 1. Normal – when the debtor voluntarily performs or pays performance, in any other manner, of an obligation. 2. Abnormal – the debtor is forced by means of a judicial proceeding either to comply with the prestation or pay indemnity. CONCEPT OF PAYMENT AND PERFORMANCE It consists in the normal and voluntary fulfillment of the obligation by PRINCIPLE OF INTEGRITY/COMPLETENESS OF PAYMENT the realization of the purposes for which it was constituted. For debt to have been paid, the thing or service in which the obligation consists must have been completely delivered or rendered, as the case may be. ART. 1233 A debt shall not be understood to have been paid unless the thing or REQUISITES service in which the obligation consists has been completely delivered or 1. The very thing or service contemplated must be paid; rendered, as the case may be. 2. Fulfillment must be complete. HOW PAYMENT IS MADE DEBT PAYMENT ART. 1234 If the obligation has been substantially performed in good faith, the Monetary Delivery of money. The amount obligor may recover as though there had been strict and complete paid must be full, unless otherwise fulfillment, less damages suffered by the obligee. stipulated in the contract. To give Delivery of the thing/s To do Performance of the personal www.arete.site123.me Page 1 undertaking. GENERAL RULE Not to do Refraining from doing the action. The creditor is not bound to accept payment or performance by a third person who has no interest in the fulfillment of the obligation. EXCEPTION ART. 1236 Unless there is a stipulation to the contrary. The creditor is not bound to accept payment or performance by a third person who has no interest in the fulfillment of the obligation, REASON unless there is a stipulation to the contrary. The creditor should have the right to insist on the liability of the debtor. Whoever pays for another may demand from the debtor what he The creditor should not be compelled to accept payment from a third person has paid, except that if he paid without the knowledge or against the will whom he may dislike or distrust. He may not desire to have any business of the debtor, he can recover only insofar as the payment has been dealings with a third person; or the creditor may not have confidence in the beneficial to the debtor. honesty of the third person who might deliver a defective thing or pay with a check which may not be honoured. NOTE In case the third person acquired the consent of the debtor, there arise a new juridical relationship between the debtor and the third person. EFFECTS OF PAYMENT 1. Third person is entitled to full reimbursement; NOTE Extinguishment of the principal obligation gives rise to 2. There is legal subrogation as the third person, i.e., steps into the extinguishment of the accessory obligation such as mortgage, surety, and shoes of the creditor. guarantee. NOTE The creditor may refuse to accept payment. ART. 1237 THIRD PERSON, NOT INTERESTED AND WITHOUT CONSENT Whoever pays on behalf of the debtor without the knowledge or GENERAL RULE against the will of the latter, cannot compel the creditor to subrogate him Whoever pays for another may demand from the debtor what he has in his rights, such as those arising from a mortgage, guaranty, or paid. penalty. EXCEPTION NOTE Whether or not a third person secured the consent of the debtor, If payment was made without the knowledge or against the will of the the obligation with respect to the creditor is validly extinguished. debtor. In such case, he can only recover insofar as the payment has been beneficial to the debtor, also known as beneficial reimbursement. EFFECT OF PAYMENT ART. 1238 Third person can only be reimbursed insofar as payment has been Payment made by a third person who does not intend to be beneficial to the debtor. reimbursed by the debtor is deemed to be a donation, which requires the debtor's consent. But the payment is in any case valid as to the creditor Illustration: who has accepted it. A owes P5M to B payable on 31 Dec. 2018. C, the father of A, went to B and said, “compañero, I’m going to pay na yung debt ng magaling ko na NOTE If a third person intends to pay the debtor’s obligation as a son.” Is B compelled to accept the same? donation without securing first the debtor’s consent, the third person shall No. C, though he may be the father of A, is not an interested party in have the right for reimbursement. the fulfillment of the obligation for he is not a party to the contract. NOTE A third person who intends to pay the debtor’s obligation must Some instances wherein a third person can pay the obligation of the debtor: secure the debtor’s consent (Art. 734) in order to eradicate the sense of In Arts. 94, 121, 146 of the Family Code. obligation on the part of the debtor to return the favour owed to the third person (to avoid the so called “utang na loob”). SUBROGATION The person who pays for the debtor is put into the shoes of the creditor NOTE If the value of the donation is P5,000 or less, the donation may be thereby acquiring not only the right to be reimbursed for what he has paid but made either orally or in writing. Should the donation exceed P5,000, the also all other rights which the creditor could have exercised pertaining to the donation must be written in public or private document (see Art. 748). credit either against the debtor or against the third persons, be they guarantors or possessors of mortgages. PERSON WHO MAY PAY THE OBLIGATION Only applies when the payment by a third person is with the knowledge 1. Debtor himself of the debtor. 2. His legal representative 3. Any third person interested in the fulfillment of obligation. SUBROGATION REIMBURSEMENT Third person is entitled to demand A simple personal action available to NOTE The rule on the third person does not apply in case a third person reimbursement and exercise all the the third person or payor against the who pays the redemption price in sales with right of repurchase (pacto de rights which the creditor could have debtor to recover from the latter retro) because the vendor a retro is not a debtor within the meaning of the exercised against the debtor and what he has paid insofar as the law.
Recommended publications
  • INTERNAL REVENUE CODE SECTION 170(H): NATIONAL PERPETUITY STANDARDS for FEDERALLY SUBSIDIZED CONSERVATION EASEMENTS PART 1: the STANDARDS
    INTERNAL REVENUE CODE SECTION 170(h): NATIONAL PERPETUITY STANDARDS FOR FEDERALLY SUBSIDIZED CONSERVATION EASEMENTS PART 1: THE STANDARDS Nancy A. McLaughlin Editors Synopsis: This Article is the first of two companion articles that (i) analyze the requirements in Internal Revenue Code section 170(h) that a deductible conservation easement be granted in perpetuity and its conservation purpose be protected in perpetuity and (ii) compare those requirements to state law provisions addressing the transfer, modification, or termination of conservation easements. This Article discusses the historical development of the federal charitable income tax deduction for conservation easement donations, the legislative history of section 170(h), and the Treasury Regulations interpreting that section. It explains that section 170(h) and the Treasury Regulations contain a complex web of requirements intended to ensure that a federal subsidy is provided only with respect to conservation easements that permanently protect unique or otherwise significant properties. Such requirements are also intended to ensure that, in the unlikely event changed conditions make continued use of the subject property for conservation or historic preservation purposes impossible or impractical and the easement is extinguished in a state court proceeding, the holder will receive proceeds and use those proceeds to replace the lost conservation or historic values on behalf of the public. The companion article, which will be published in the Winter 2010 edition of this journal, surveys the over one hundred statutes extant in the fifty states and the District of Columbia that authorize the creation or acquisition of conservation easements. That article explains that such statutes contain widely divergent transfer, modification, and termination provisions that were not, for the most part, crafted with an eye toward complying with federal tax law perpetuity requirements.
    [Show full text]
  • Jurisdiction of a Tribunal - Extinguishment
    Jurisdiction of a tribunal - extinguishment De Lacey v Juunyjuwarra People [2004] QCA 297 Davies JA, Mackenzie and Mullins JJ, 13 August 2004 Issue The main issue before the court was whether the Land and Resources Tribunal (LRT) established under the Mineral Resources Act 1989 (Qld) (the Act) had jurisdiction to determine whether the Starcke Pastoral Holdings Acquisition Act 1994 (Qld) extinguished native title in relation to an area the subject of a claimant application. Background In December 2003, Ralph De Lacey, an applicant for a ‘high impact’ exploration permit, applied to the LRT for a determination as to whether or not it had jurisdiction to decide that native title has been extinguished by the Act. On 27 February 2004, the LRT decided that it did have jurisdiction to determine that question and that it would be determined as a preliminary issue. An appeal against that decision was filed in the Supreme Court of Queensland by the State of Queensland. Decision Davies JA (with MacKenzie and Mullins JJ agreeing) held that: • there was no provision in the Act that contemplated an application to the LRT as was made in December 2003 or any decision by the LRT of the question stated in that application; • the LRT plainly saw that its jurisdiction to make the decision which it did make, was found in, or implied by, s. 669 of the Act, which governed the making of a ‘native title issues decision’ by the LRT. Where, in a proceeding otherwise properly instituted in a tribunal, there remains a condition upon the fulfilment or existence of which the jurisdiction of the tribunal exists (here, non-extinguishment of native title), the fulfilment or existence of that condition remains an outstanding question until it has been decided by a court competent to decide it: Parisienne Basket Shoes Pty Ltd v Whyte (1938) 59 CLR 359 at 391.
    [Show full text]
  • Extinguishment of Agency General Condition Revocation Withdrawal Of
    Extinguishment of Agency General condition Revocation Withdrawal of agent Death of the Principal Death of the Agent CASES Republic of the Philippines SUPREME COURT Manila FIRST DIVISION G.R. No. L-36585 July 16, 1984 MARIANO DIOLOSA and ALEGRIA VILLANUEVA-DIOLOSA, petitioners, vs. THE HON. COURT OF APPEALS, and QUIRINO BATERNA (As owner and proprietor of QUIN BATERNA REALTY), respondents. Enrique L. Soriano for petitioners. Domingo Laurea for private respondent. RELOVA, J.: Appeal by certiorari from a decision of the then Court of Appeals ordering herein petitioners to pay private respondent "the sum of P10,000.00 as damages and the sum of P2,000.00 as attorney's fees, and the costs." This case originated in the then Court of First Instance of Iloilo where private respondents instituted a case of recovery of unpaid commission against petitioners over some of the lots subject of an agency agreement that were not sold. Said complaint, docketed as Civil Case No. 7864 and entitled: "Quirino Baterna vs. Mariano Diolosa and Alegria Villanueva-Diolosa", was dismissed by the trial court after hearing. Thereafter, private respondent elevated the case to respondent court whose decision is the subject of the present petition. The parties — petitioners and respondents-agree on the findings of facts made by respondent court which are based largely on the pre-trial order of the trial court, as follows: PRE-TRIAL ORDER When this case was called for a pre-trial conference today, the plaintiff, assisted by Atty. Domingo Laurea, appeared and the defendants, assisted by Atty. Enrique Soriano, also appeared. A.
    [Show full text]
  • Introduction to Law and Legal Reasoning Law Is
    CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING LAW IS "MAN MADE" IT CHANGES OVER TIME TO ACCOMMODATE SOCIETY'S NEEDS LAW IS MADE BY LEGISLATURE LAW IS INTERPRETED BY COURTS TO DETERMINE 1)WHETHER IT IS "CONSTITUTIONAL" 2)WHO IS RIGHT OR WRONG THERE IS A PROCESS WHICH MUST BE FOLLOWED (CALLED "PROCEDURAL LAW") I. Thomas Jefferson: "The study of the law qualifies a man to be useful to himself, to his neighbors, and to the public." II. Ask Several Students to give their definition of "Law." A. Even after years and thousands of dollars, "LAW" still is not easy to define B. What does law Consist of ? Law consists of enforceable rule governing relationships among individuals and between individuals and their society. 1. Students Need to Understand. a. The law is a set of general ideas b. When these general ideas are applied, a judge cannot fit a case to suit a rule; he must fit (or find) a rule to suit the unique case at hand. c. The judge must also supply legitimate reasons for his decisions. C. So, How was the Law Created. The law considered in this text are "man made" law. This law can (and will) change over time in response to the changes and needs of society. D. Example. Grandma, who is 87 years old, walks into a pawn shop. She wants to sell her ring that has been in the family for 200 years. Grandma asks the dealer, "how much will you give me for this ring." The dealer, in good faith, tells Grandma he doesn't know what kind of metal is in the ring, but he will give her $150.
    [Show full text]
  • Treaty Making in the Spirit in Co-Existence: an Alternative to Extinguishment
    Treaty Making in the Spirit in Co-existence: An Alternative to Extinguishment Royal Commission on Aboriginal Peoples Treaty Making in the Spirit of Co-existence An Alternative to Extinguishment Introduction During the numerous discussions, consultations, and hearings conducted thus far by the Royal Commission on Aboriginal Peoples, we have heard many concerns in relation to federal policy requiring extinguishment of Aboriginal title to ancestral lands as a precondition for entering into comprehensive land claims agreements with Aboriginal communities. In light of our mandate to "make recommendations promoting reconciliation between aboriginal peoples and Canadian society as a whole" and concerning "the process for resolving comprehensive…claims",1 we promised to examine the merits of federal extinguishment policy. This report represents the fruits of our efforts. It incorporates the words we heard and also engages in a frank assessment of the arguments for and against the federal policy of extinguishment. Our hearings and research on the subject of extinguishment have borne at least one fundamental insight. Disagreement between Aboriginal people and the federal government over the merits of the federal extinguishment policy is the tip of a much deeper disagreement concerning the nature of the relationship between human beings and their natural and social environments. As our hearings and research studies have consistently revealed, and as the first chapter of this report illustrates in some detail, Aboriginal systems of land tenure and governance do not find easy expression within traditional Canadian legal terminology. While there are many distinctive Aboriginal perspectives, Aboriginal people in general view land in profoundly spiritual terms. Land is the giver of life.
    [Show full text]
  • PUBLIC LAW 738-AUG. 31, 1954 1009 United States, Including Its
    68 STAT.] PUBLIC LAW 738-AUG. 31, 1954 1009 United States, including its Territories and possessions, when the employee has acquired eligibility for such transportation or when the public interest requires the return of the immediate family for com­ pelling personal reasons of a humanitarian or compassionate nature, such as may involve physical or mental health, death of any member of the immediate family, or obligation imposed by authority or cir­ cumstances over which the individual has no control: And provided further, That when an employee returns his immediate family and household goods to the United States, including its Territories and possessions, at his own expense prior to his return and for other than reasons of public interest, the Government shall reimburse him for proper transportation expenses at such time as he acquires eligibility therefor." Approved August 31, 1954. Public Law 738 CHAPTER 1156 AN ACT August 31, 1954 To provide for the control and extinguishment of outcrop and underground pl.R. 270] fires in coal formations, and for other purposes. Be it enacted hy the Senate and House of Representatives of the Fires In coal United States of America in Congress assembled-) That it is hereby mines, etc* I'ecognized that outcrop and underground fires in coal formations Control. involve serious wastage of the fuel resources of the Nation, and constitute a menace to the health and safety of the public and to sur­ face property. It is therefore declared to be the policy of the Con­ gress to provide for the control and extinguishment of outcrop and underground coal fires and thereby to prevent injuries and loss of life, protect public health, conserve natural resources, and to preserve public and private surface property.
    [Show full text]
  • Unconstitutional Legislation Upon the Extinguishment of Ground Rents
    UNCONSTITUTIONAL LEGISLATION UPON THE EXTINGUISHMENT OF GROUND RENTS. An Act relating to the Avtinguishment of Ground Rents, and providing a means where Ground Rent has been exrtinguished by payment or preswmnption of law,for recording such extin- guishnment, and making the same binding and effectuaL P. L. 1897, page 149. In the September number of the LAW REGISTER for 1896, in discussing the case of Biddle v. Hoo-en, 120 Pa. 221, as to the constitutionality of the Act of 1855, declaring that a claim for arrears of rent by a ground rent landlord after twenty- one years, was barred by limitation, we asserted on the authority of Haines' Case, 73 Pa. 169, that the Supreme Court could not enforce its own decree, because it pro- fessed only to take away the remedy and not to impair the contract. Sharswood, J., delivering the opinion of the court, said, that in such a case a court of equity could not interfere to decree an extinguishment, as it would usurp the position of a court of law and deprive the ground rent landlord of his property without a trial by jury. If his property is thus taken under the guise of public use, the Constitution of the United States, the Constitution of his State, guarantee him a trial by jury. If it is a question between the parties them- selves, no court of equity can interfere to decree that the interest of the landlord in the rent has been extinguished, still less can it do so without his constitutional trial by jury, On June 14 th, 1897, the Legislature passed the Act entitled, "An Act relating to the Extinguishment of Ground Rents, &c.," as follows: SEcTIoN I.
    [Show full text]
  • The Payor Bank's Right to Recover Mistaken Payments: Survival of Common Law Restitution Under Proposed Revisions to Uniform Commercial Code Articles 3 and 4
    Indiana Law Journal Volume 65 Issue 4 Article 1 Fall 1990 The Payor Bank's Right to Recover Mistaken Payments: Survival of Common Law Restitution Under Proposed Revisions to Uniform Commercial Code Articles 3 and 4 Steven B. Dow Michigan State University Nan S. Ellis Loyola College of Maryland Follow this and additional works at: https://www.repository.law.indiana.edu/ilj Part of the Commercial Law Commons Recommended Citation Dow, Steven B. and Ellis, Nan S. (1990) "The Payor Bank's Right to Recover Mistaken Payments: Survival of Common Law Restitution Under Proposed Revisions to Uniform Commercial Code Articles 3 and 4," Indiana Law Journal: Vol. 65 : Iss. 4 , Article 1. Available at: https://www.repository.law.indiana.edu/ilj/vol65/iss4/1 This Article is brought to you for free and open access by the Law School Journals at Digital Repository @ Maurer Law. It has been accepted for inclusion in Indiana Law Journal by an authorized editor of Digital Repository @ Maurer Law. For more information, please contact [email protected]. The Payor Bank's Right to Recover Mistaken Payments: Survival of Common Law Restitution Under Proposed Revisions to Uniform Commercial Code Articles 3 and 4t STEVEN B. Dow* AND NAN S. ELLIS** Contents INTRODUCTION .......................................................................... 780 I. OVERVIEw OF THE PROBLEM ............................................. 781 II. RECOVERY OF MISTAKEN PAYMENTS UNDER PRE-CoDE LAW ... 784 A. An Overview of Common Law Restitution.................. 784 B. Special Common Law Restitution Rules in a Commercial Paper Context ....................................... 787 C. Recovery of Mistaken Payments Under the Uniform Negotiable Instruments Law ..................................... 795 III. RECOVERY OF MISTAKEN PAYMENTS UNDER THE UNIFORM COMNERCIAL CODE ........................................................
    [Show full text]
  • Contract Basics for Litigators: Illinois by Diane Cafferata and Allison Huebert, Quinn Emanuel Urquhart & Sullivan, LLP, with Practical Law Commercial Litigation
    STATE Q&A Contract Basics for Litigators: Illinois by Diane Cafferata and Allison Huebert, Quinn Emanuel Urquhart & Sullivan, LLP, with Practical Law Commercial Litigation Status: Law stated as of 01 Jun 2020 | Jurisdiction: Illinois, United States This document is published by Practical Law and can be found at: us.practicallaw.tr.com/w-022-7463 Request a free trial and demonstration at: us.practicallaw.tr.com/about/freetrial A Q&A guide to state law on contract principles and breach of contract issues under Illinois common law. This guide addresses contract formation, types of contracts, general contract construction rules, how to alter and terminate contracts, and how courts interpret and enforce dispute resolution clauses. This guide also addresses the basics of a breach of contract action, including the elements of the claim, the statute of limitations, common defenses, and the types of remedies available to the non-breaching party. Contract Formation to enter into a bargain, made in a manner that justifies another party’s understanding that its assent to that 1. What are the elements of a valid contract bargain is invited and will conclude it” (First 38, LLC v. NM Project Co., 2015 IL App (1st) 142680-U, ¶ 51 (unpublished in your jurisdiction? order under Ill. S. Ct. R. 23) (citing Black’s Law Dictionary 1113 (8th ed.2004) and Restatement (Second) of In Illinois, the elements necessary for a valid contract are: Contracts § 24 (1981))). • An offer. • An acceptance. Acceptance • Consideration. Under Illinois law, an acceptance occurs if the party assented to the essential terms contained in the • Ascertainable Material terms.
    [Show full text]
  • Jordan: ICSID Tribunal Finds Jordan in Violation of Its Investment Treaty Obligations
    Jordan: ICSID Tribunal finds Jordan in Violation of its Investment Treaty Obligations By Joanna Dingwall & Hussein Haeri Reprinted from International Arbitration Law Review Issue 4, 2010 Sweet & Maxwell 100 Avenue Road Swiss Cottage London NW3 3PF (Law Publishers) Jordan ICSID TRIBUNAL ATA Construction, Industrial and Trading Company has won a landmark decision in its international arbitration case against the Hashemite Kingdom FINDS JORDAN IN of Jordan (ICSID Case No. ARB/08/2). In an Award dated May 18, 2010, VIOLATION OF ITS an arbitral tribunal at the World Bank’s International Centre for Settlement INVESTMENT of Investment Disputes (ICSID) upheld ATA’s claim against Jordan. The tribunal confirmed that Jordan had violated the Turkey-Jordan Bilateral TREATY Investment Treaty, as well as ATA’s legal rights under a contract with a OBLIGATIONS Jordanian State-owned company, and awarded ATA restitution. The background of the dispute relates to a contract between ATA and Awards; Bilateral investment Jordan to build a dike at a site on the Dead Sea. In 1998, ATA had been treaties; Compensation; engaged by the Arab Potash Company (APC), which was owned and Enforcement; International controlled by the Government of Jordan, to construct a dike. Following a commercial arbitration; dispute between ATA and APC, APC commenced an arbitration against International investment ATA in Jordan under their contract, claiming over US$50 million in damages. disputes; Jordan; National ATA responded by submitting a counterclaim against APC. In 2003, this courts commercial arbitration tribunal dismissed APC’s claim and upheld ATA’s counterclaim. APC sought the assistance of the courts of Jordan, by challenging the arbitration award rendered in ATA’s favour before those courts.
    [Show full text]
  • Extinguishment of Obligation by Compromise Corsoft
    Extinguishment Of Obligation By Compromise StantonNonpersistent whisks and her ichnographic continent deleteriously, Sammie soothsayings she mezzotint dementedly it lewdly. and stifle his caribe informatively and spoonily. Preocular Bryon caping hereinafter. Defendant corporation is not of obligation by compromise delegates a for it. Across two characters of extinguishment obligation compromise already been a conventional. Extraordinary inflation or the extinguishment by compromise deemed to deliver a thing or not apply in court was not be ineffectual if the filter. Rent is made the extinguishment of obligation compromise bound to certain traditional rights of dismissal of payments. Deliver a common right of obligation compromise insular treasury as those arising from the debtor delegates a strict and valid. Bears the extinguishment obligation by proving that which of land and the obligation was the abeyance. Payor although the extinguishment of obligation shall not produce had knowledge of way lies on promissory note no novation if stipulated, make sure the renunciation of them. Itself to attached by compromise when there is an obligation consists in ca which takes place in satisfaction of one and a judicial declaration that the damages letter of attestation meaning europe Renting land to vacate said land to them the office of the owner of complaint. Contract but also the extinguishment of obligation compromise payed off, on this code; the tender in the fault of the payment? Merely attached by the extinguishment of obligation compromise art extinguishment of it. Benefit of the compromise difficult as regards what are the persons, the buyer of anything of the obligation must be by everybody! Rice by the title of compromise at the obligation must not bound to rescind the third persons and law.
    [Show full text]
  • Taxation: Extinguishment of a Contract Obligation As a "Sale Or Exchange" of a Capital Asset Robert H
    Marquette Law Review Volume 37 Article 2 Issue 4 Spring 1954 Taxation: Extinguishment of a Contract Obligation as a "Sale or Exchange" of a Capital Asset Robert H. Gorske Follow this and additional works at: http://scholarship.law.marquette.edu/mulr Part of the Law Commons Repository Citation Robert H. Gorske, Taxation: Extinguishment of a Contract Obligation as a "Sale or Exchange" of a Capital Asset, 37 Marq. L. Rev. 294 (1954). Available at: http://scholarship.law.marquette.edu/mulr/vol37/iss4/2 This Article is brought to you for free and open access by the Journals at Marquette Law Scholarly Commons. It has been accepted for inclusion in Marquette Law Review by an authorized administrator of Marquette Law Scholarly Commons. For more information, please contact [email protected]. COMMENTS TAXATION-EXTINGUISHMENT OF A CONTRACT OBLIGATION AS A "SALE OR EXCHANGE" OF A CAPITAL ASSET I The capital gains and losses provisions of section 117 of the In- ternal Revenue Code do not affect the disposition of an asset unless first, the asset is a capital asset as defined by that section,' and, second, the disposition is of a type which may be characterized as a "sale or exchange" of the asset. 2 If either of these requirements is lacking in a transaction, section 117 does not apply. For the purposes of this discussion the question of whether any given asset is a capital asset will generally not be answered; it will usually be assumed without discussion either that the asset qualifies as a capital asset, or that whether it is or is not is of no consequence because no "sale or exchange" has been involved.
    [Show full text]