An obligation where the period of payment is subject to the will of the debtor or obligor is void.

Related MCQs

• Debtor owes Creditor P20, 000. On the due date of the obligation, Debtor could not pay. Debtor instead offered his TV set worth P20,000 in payment of the obligation. Creditor agrees.
• Debtor owes Creditor P500,000. The debt is secured by a chattel mortgage on Debtor’s car. On the due date of the obligation, Creditor is paid by Third Person who has no interest in the obligation either as guarantor or surety. There is likewise no stipulation as to Third Person’s right to pay.
• In an obligation to do or to render service, the oblique may impose personal force or coercion to compel the obligor to comply with his obligation.
• Where the debtor has various debts of the same kind in favor of the same creditor and on the due date the debtor does not have sufficient funds to cover all the debts, the debtor may avail of
• Mr. Debtor owes Mr. Creditor as follows: P10, 000 due February 5; P10, 000 due March 5 and P10, 000 due April 5, all during the current year. Mr. Debtor has only P10, 000 and cannot pay all his obligations. If Mr. Debtor decides to pay P10, 000, the amount shall apply:
• To secure the payment of his obligation, A pledged to his surety C, his car who sold the car after paying the obligation of A. The obligation was P2M but the car was sold for only P1M. Can the surety recover the deficiency?
• The court can fix the period when the obligation is subject to the sole will of the debtor.
• The lose of a determinate thing extinguishes the obligation to deliver by the obligor who is guilty of fault or delay.
• Mr. Debtor owes fifteen (15) persons substantial amounts of money. His financial situation indicates that his liabilities for exceed his assets. If Mr. Debtor cedes or assigns his properties to his creditors,
• Mr. Debtor owes Mr. Creditor P100, 000. On the due date, Mr. Debtor delivers a cashier’s check for the full amount. Mr. Creditor refuses to accept the check.