What does Resolutive condition mean? A condition which terminates a right or obligation if a certain specified event occurs (cf suspensive condition). Speed up all aspects of your legal work with tools that help you to work faster and smarter.
What is the difference between suspensive and resolutory conditions?
An obligation with a suspensive condition takes effect when the condition is fulfilled. An obligation with a resolutory condition is discharged when the condition is fulfilled. An obligation is conditional where it is made to depend on a future, uncertain event.
A resolutive condition is an arrangement between the parties that an agreement will end in the event of certain circumstances. Example: the contract can be terminated when a licence for use of a catering establishment is withdrawn.
A period that, once it arrives, extinguishes or terminates the obligation. Example: A lease contract that expires after five years. Once five years have passed, the obligation to pay rent ceases.
It provides that the agreement will only proceed if the buyer obtains a mortgage bond from a financial institution, usually within 30 to 45 days. If the buyer fails to secure financing in that period, the agreement lapses.
Suspensive Condition vs Resolutory Condition | OBLICON
What is a resolutory condition?
What does Resolutive condition mean? A condition which terminates a right or obligation if a certain specified event occurs (cf suspensive condition). Speed up all aspects of your legal work with tools that help you to work faster and smarter.
Facultative obligation – refers to a situation wherein “only one prestation has been agreed upon” “but the obligor may render another in substitution.” ( CIVIL CODE, Article 1206)
A suspensive condition (a bond clause is a commonly-encountered example) provides that the contract is “suspended” until the condition is fulfilled – e.g. a sale becomes binding only when the buyer's bond is granted. A resolutive condition is the exact opposite.
A quasi-contract is one that has been imposed by a judge in the absence of a formal prior agreement or contract. It occurs when services have been rendered or one person has benefited in some way at the other's expense.
A joint obligation is where each obligor/debtor answers for a part of the whole liability. A solidary obligation is where each debtor is bound to render the entire compliance.
A suspensive condition is a condition which suspends rights and obligations (or the validity of the entire contract) until a certain future event occurs. Upon the occurrence of the event, the suspended part of the contract (or indeed the entire contract) is brought to life.
A common mistake is the circumstance where all parties to a contract are “mistaken” regarding a fundamental matter of fact. If both parties are under the same misapprehension (e.g. the existence of goods under a sale of contract) it may render the contract void at law or, in some circumstances, voidable in equity.
Under the Civil Code of the Philippines, solutio indebiti is a quasi-contract that arises when one party receives something through mistake, either of fact or law, which does not properly belong to them, and the recipient has the obligation to return it.
Article 1180. When the debtor binds himself to pay when his means permit him to do so, the obligation shall be deemed to be one with a period, subject to the provisions of article 1197. (
for·tu·i·tous event. fȯr-ˈtü-ə-təs-, -ˈtyü- : an event of natural or human origin that could not have been reasonably foreseen or expected and is out of the control of the persons concerned (as parties to a contract) : force majeure.
An obligation which is subject to a purely potestative condition means that the condition will be fulfilled only if the obligated party chooses to do so.
What are the two types of obligations in contracts?
Express obligation: when the duties, tasks, or promises are specifically stated in the agreement. Moral obligation: when a person has a duty to do something based upon the belief of right or wrong standards.
basic substantive obligation . , in relation to a contract, means an obligation provided by the contract for payment, delivery or the provision of collateral; View Source.
What is the difference between suspensive and resolutory?
Definition: A resolutory condition extinguishes an obligation upon its fulfillment. In contrast to a suspensive condition, the obligation exists immediately but is terminated upon the occurrence of the specified condition.
Repudiation is where one party of a contract clearly states or demonstrates their intention not to fulfill their contractual obligations. In order to constitute repudiation, the language or action of the breaching party must be reasonably interpreted to mean that they will not or cannot perform.
An error in corpore is a mistake that concerns the contract's subject matter or object of performance, and is regarded as material. An error in negotio is a mistake regarding the nature of the contract and is regarded as material.
What does Suspensive condition mean? A condition which prevents an obligation arising unless and until a specific future event, certain or uncertain, occurs (cf resolutive condition).
