BUL MID

Obligation

a juridical necessity to give, to do, or not to do.

Contract

an agreement between two persons whereby one binds himself with respect to the other, to give something or to render some service.

Sources of Obligation

1. Law

2. Contracts

3. Quasi-contracts

4. Acts or omissions punished by law (Delicts/Crimes)

5. Quasi-delicts

Obligation

Juridical tie to give, to do, or not to do.

Quasi-contract

Lawful, voluntary act which creates obligation.

Quasi-delict

Act or omission causing damage to another due to fault or negligence, without contractual relation.

Diligence of a Good Father of a Family

Ordinary care that an average prudent person would exercise. Standard of care if not stated in contract or law.

Accessions

fruits or additions to a thing.

Accessories

things used for embellishment or better use.

Delay (Mora)

Failure to perform obligation on time.

Fraud

any activity that relies on deception in order to achieve a gain.

Negligence

Omission of diligence required. Failure to observe care required by circumstances.

Fortuitous Event

Unforeseen event that makes performance impossible.

Pure Obligation

No condition or period, demandable at once.

Suspensive Condition

Condition that must happen before obligation arises.

Resolutory Condition

Condition that extinguishes obligation already existing.

Potestative Condition

Depends on will of one party.

Reciprocal Obligations

Both parties are debtor and creditor of each other.

Rescission

Remedy to cancel contract due to lesion/damage.

Day Certain

Exact date known to come.

Suspensive Period

Period that suspends demandability.

Resolutory Period

Period that ends obligation.

Alternative Obligation

Several prestations but only one is due, debtor must choose completely.

Facultative Obligation

Only one prestation is due but debtor may substitute another