Felixie - Lecture notes 1 PDF

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Lecture notes for class. Semester 1-2...

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The two debts must be paid in full by the specified dates;

(4) They must be liquidated and made available upon demand; and

(5) That neither of them will be the subject of any third-party claims or disputes, unless the debtor is informed of them in a timely manner. (1196)

Law 1280 of the Constitution. To the contrary of the preceding item, a guarantor may set up compensation for the creditor's obligation to the primary debtor. (1197) Law 1281 of the Code. It is possible to receive compensation in full or in plaw There is a total compensation when the two debts are of the same amount. (n)

Law 1282: The parties may agree on the restitution of unpaid obligations. (n)

As stated in Law 1283, one of the parties to an obligation litigation may set off the other's claim for damages by showing his or her entitlement to such damages and the amount thereof. (n)

Law 1284. Before they are judicially rescinded or avoided, compensation may be made against each other where one or both obligations are rescissible or voidable. (n)

Law 1285. The debtor who has agreed to a creditor's assignment of rights in favour of a third party, can't claim against the assignee compensation that would have been due to the assignor if he had been informed of this prior to signing the agreement.

If the creditor informed the debtor about the cession, but the debtor refused to accept it, the debtor may proceed with the collection of prior obligations, but not those accrued after the cession.

It is possible to build up a compensation plan for all former and subsequent debts that the debtor was unaware of until he learned of the assignment. (1198a)

Law 1286: Even though the debts are payable in various locations, compensation is made by operation of law, and an indemnity for exchange or transportation costs to the payment location is provided. (1199a)

The debts of a depositary or bailee in commodatum can't be compensated for, according to Law 1287 of the Code of Civil Procedure.

Neither can a creditor who has a claim for support due by gratuitous title be held liable for compensation, notwithstanding the restrictions of Law 301's paragraph 2. (1200a)

If one of the obligations is a civil responsibility originating from a criminal crime, there will be no compensation. (n)

In cases when a person is the subject of more than one claim for compensation, the rules governing payment distribution apply to the order in which compensation is distributed. (1201)

Compensatory law takes effect automatically, even if creditors and debtors don't know about it. This is the case even if all of the conditions of Law 1279 are met and compensation takes effect by operation of law. (1202a)

The novation of Section 6

(Law 1291) Obligations may be changed by: (1) Changing the object of a contract; or (2) Changing the primary conditions of a contract;

(2) Using the debtor as a stand-in

Third-party subrogation of a creditor's rights (1203)

Unless the old and new responsibilities are incompatible in every way, it is impossible to replace one responsibility with another that fulfils the same function. (1204) LAW 1293 It's possible to substitute a new debtor for the old one even if the latter is unaware or unwilling, but only with the creditor's permission can novation take place. The rights outlined in Articles 1236 and 1237 are granted to the new debtor upon payment. (1205a)

Law 1294: If the debtor is unaware or unwilling to accept the substitution, the new debtor's bankruptcy or failure to meet his or her obligations will not subject the original debtor to any culpability. (n)

Only if the new debtor's bankruptcy is already known to the original debtor or was known to the debtor when he or she delegated his or her obligation may the original debtor's action against the original debtor be revived by the new debtor's insolvency. (1206a)

novation, accessory responsibilities may continue solely to the extent that they benefit other parties who did not offer their assent to the novation. (1207)

If the new obligation is invalid, the existing one will continue to exist, unless the parties expressly agreed otherwise. (n)

Except in cases where the initial obligation was defective, novation is void unless the debtor is entitled to an annulment or the ratification of actions that are voidable is ratified. (1208a)

Otherwise, if the original obligation was suspended or resolved, the new obligation must also be suspended or resolved in accordance with the same condition, unless otherwise specified in writing. (n)...