Oblicon Study Guide - aaa PDF

Title Oblicon Study Guide - aaa
Course Bachelor of Science in Accountancy
Institution Polytechnic University of the Philippines
Pages 4
File Size 85.3 KB
File Type PDF
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Summary

STUDY GUIDE 6Joint and Solidary ObligationI. DefinitionsDefine or give the meaning of the following: Joint obligation  Joint obligation or one where the whole obligation is to be paid or fulfilled proportionately by the different debtors and/or is to be demanded proportionately by the different cre...


Description

STUDY GUIDE 6 Joint and Solidary Obligation I. Definitions Define or give the meaning of the following: 1. Joint obligation  Joint obligation or one where the whole obligation is to be paid or fulfilled proportionately by the different debtors and/or is to be demanded proportionately by the different creditors. (Article 1207-1208).

2. Solidary obligation  Solidary obligation or one where each one of the debtors is bounded to render, and/or each one of the creditors has a right to demand from any of the debtors, entire compliance with the prestation. (Article 1207-1208).

3. Active solidarity  Active solidary is solidarity on the part of the creditors, where any one of them can demand the fulfillment of the entire obligation. (Article 1207-1208).

4. Joint indivisible obligation  The obligation is joint because the parties are merely proportionately liable. It is indivisible because the object or subject matter is not physically divisible into different parts. (Article 1209).

5. Solidary divisible obligations  Solidarity may exist although the creditors and the debtors may not be bound in the same manner and by the same periods and conditions. (Article 1211).

II. Discussions

1. If there are two (2) or more debtors in one and the same obligation, is their liability joint or solidary? Explain. According to Article 1207, there is only solidary liability, when the obligation expressly so stated, or when the law or the nature of the obligation requires solidarity. But they somehow similar and different with each other. In a joint obligation, all debtors will do the obligation proportionally. While in solidary obligation, only one debtor is bound to pay for the entire obligation, then that debtor can reimburse his payment from the other debtors.

2. In case of active solidarity, to whom shall the debtor or debtors make payment? According to Article 1214, the debtor may choose which creditor he will pay first, but if one of the creditor makes a demand, it is either judicial or extrajudicial, the payment should be made to him first.

3. Give the effect of the condonation or remission of a debt by one of several creditors where: a) the obligation is joint; o According to Article 1215, when the obligation is joint, the condonation will only affect the share of the certain debtor. The obligation of the debtor will not be extinguished and the co-debtors will still have to pay their proportionate shared. b) the obligation is solidary. o According to Article 1215, the creditor who make the condonation and remission is the one liable to the other creditors for their shares.

4. In case a remission is made by a creditor of the share of one of the solidary debtors, is the said debtor released from responsibility to his co-debtor/s? Explain. According to Article 1219, the debtor is not released from his responsibility to his co-debtors. Because when one of the co-debtors become insolvent, he still has the responsibility to pay the share for the insolvent debtor.

5. Suppose a solidary debtor obtained remission of the whole obligation, is he entitled to reimbursement from his co-debtor/s? Explain.

According to Article 1220, the remission of the whole obligation obtained by one of the solidary debtors, does not entitle him to reimbursement from his co-debtors. Since he did not pay anything in the first place, he does not have the right to reimbursement from his co-debtors.

III. Problems Explain or state briefly the rule or reason for your answer. 1. X, Y, and Z bind themselves to pay W P30,000. Only X receives the money as per agreement between X, Y, and Z. On the due date of the obligation, has W the right to demand the full payment of P30,000 from Z alone? No, according to Article 1207, if the obligation did not mention about solidarity, it is considered as a joint obligation wherein it states that every debtor is only liable to pay for his proportionate shares. Therefore, W does not have the right to demand the full payment from Z, instead, he should only demand Z’s shares, which is P10,000.

2. X, Y, and Z promised to pay W solidarily P30,000 on or before September 10 without need of demand. On September 9, X paid the whole P30,000 to W. a) How much can X collect from Y and Z? o P10,000, because according to Article 1217, X can only collect the proportionate shares of Y and Z, which is P10,000 each. b) May X collect interest from Y and Z? o No, because in Article 1217, interest cannot be collected if the payment was made before the due date, therefore X cannot collect interest from Y and Z because he pays before the maturity date. c) Suppose Z turns out to be insolvent how much can X collect from Y? o If Z turns out to be insolvent, based on Article 1217, X can collect to Y his shares plus half of Z’s shares, which amounts to P15,000.

3. A owes B and C, solidary creditors, the sum of P20,000: a) Can C condone the debt without the consent of B? o Yes, According to Article 1212, one solidary creditor can do what is useful, but not prejudicial to the others. In here, C can condone the debt without B’s consent. However, since C cannot be prejudiced by the remission made by B, B has to reimburse C for his share.

b) Can C assign his rights without the consent of B? o No, according to Article 1213, a solidary creditor cannot assign his rights without the consent of the others. Because, each creditor represents the other creditors, but, if there are three or more creditors, one creditor can assigned his right to another creditors without other creditor’s consent.

4. A, B, and C are solidarily liable to D. For their failure to pay, D filed a complaint in court but only against C. Has C the right to demand that A and B be also included as part defendants? No, according to Article 1216, C has no rights to demand that A and B be also included as part defendants. Since C is a solidary debtor, he can pay for the entire obligation. However, if C are not able to pay for the full amount. D can still go against the other solidary debtors.

5. A, B, and C, co-owners, sold a printing equipment to D. They solidarily bound themselves to deliver the equipment on a certain date. Through the fault of C, the equipment was completely destroyed. Give the rights and obligations of the parties. According to Article 1221, paragraph 2, for D; A, B, and C are liable for the price of the printing equipment as well as the damages even though A, and B are not at fault at all, since solidary obligation is called a mutual agency. A and B can recover damages to C if they already have consumed for the price of the printing press. If D already recovered the price and the damages from C, C cannot claim reimbursement from A, and B....


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