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Chapter 4, Sec: Condonation or Remission of Debt 1. DEFINITIONS Define or give the meaning of the ff: 1. Condonation or remission of debt - the gratuitous abandonment by the creditor of his right against the debtor. It is thus a form of donation. 2. Inofficious remission - when the remission given i...

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Chapter 4, Sec.3: Condonation or Remission of Debt 1. DEFINITIONS Define or give the meaning of the ff: 1. Condonation or remission of debt - the gratuitous abandonment by the creditor of his right against the debtor. It is thus a form of donation. 2. Inofficious remission - when the remission given is more than that which the creditor can give by will. II. DISCUSSIONS 1. Give the requisites in order that a condonation or remission of debt may be valid. Answer: According to Art. 1270, for condonation or remission to be valid, the following requisites must concur: the existence of a demandable debt, renunciation of the debt is purely gratuitous, acceptance of the condonation or remission by the debtor, formalities required by law on donation must be complied with, what has been condoned or remitted must not be in officious. 2. When is the condonation or remission of debt considered inofficious? What is the remedy of the party adversely affected thereby? Answer: According to Art. 1270, if the condonation or remission made by the creditor is excessive or inofficious, it may be totally revoked or reduced depending on whether or not it is totally or only partially inofficious. TIL.PROBLEMS Explain or state briefly the rule or reason for your answer. 1. D (debtor) borrowed money to C (creditor) evidenced by a promissory note signed by D.

(a) What presumption arises if: 1. The promissory note voluntarily given by C to D?

Answer: The presumption is that C is renouncing his right from the credit.

2. It is found in the possession of D? Answer: The presumption is that it was voluntarily delivered by C. (b) When will the presumption of remission arise? Answer: The presumption is that it was voluntarily delivered by C. 2. Suppose in the same problem, the debt of D, aside from being guaranteed by G, is secured by a pledge of a certificate of shares of stock delivered by D to C. What presumption arises if: (a) the debt of D condoned by C? Answer: When the debt of D is condoned by C, the accessory obligation together with the principal will both be extinguished. (b) the certificate is later found in the possession of D? Answer: It is presumed that only the accessory obligation of pledge, which is the certificate, is remitted, not the obligation itself. D shall continue to be indebted but does not have to return the thing pledged....