What is conditional obligation void?

Conditional obligation void. — to do an impossible or illegal thing. Both the obligation and the condition are void. The reason behind the law is that the obligor knows his obligation cannot be fulfilled. He has no intention to comply with his obligation.

What is conditional obligation?

Which of the following conditional obligation is void?

What is conditional obligation and example?

What are the two types of conditional obligation?

What is period in law?

Period means the entire term of the agreement.

What are the kinds of loss in law?

Kinds of Loss Loss in civil law may be: 1) Physical loss – When it perishes (as when a house is burnt to ashes) 2) Legal loss – When it goes out of commerce (as when the object before is un-prohibited becomes prohibited) 3) Civil loss – When disappears in such a way that its existence is unknown (as when a particular …

What is the most distinctive characteristic of pure obligations?

The most distinctive characteristic of a pure obligation is its immediate demandability.

What is solidary obligation in law?

A solidary obligation, or an obligation in solidum, is a type of obligation in the civil law jurisprudence that allows either obligors to be bound together, each liable for the whole performance, or obligees to be bound together, all owed just a single performance and each entitled to the entirety of it.

What is civil loss in business law?

Civil damages are granted when a person is injured or suffers a loss that stems from the wrongful or negligent actions of another party. The intent of awarding civil damages is to grant plaintiffs resources that restore them to their conditions before their injuries.

What is a Resolutive condition in a contract?

A resolutive condition is an arrangement between the parties that the agreement of sale will terminate on the happening of a certain future event. Unlike with a suspensive condition, the agreement is immediately binding with all the rights and obligations contained therein from the day of conclusion thereof.

What is a day certain?

A specified date. A term used in the rules of civil andcriminal procedureto designate a particular time by which all motions for a new trial must be submitted to the court.

What is pure obligation?

A pure obligation is one where the performance does not depend upon a condition and no specific term or period is mentioned. Therefore, it is demandable at once.

What are nominal damages?

A trivial sum of money awarded to a plaintiff whose legal right has been technically violated but who has not established that they are entitled to compensatory damages because there was no accompanying loss or harm.

What are direct damages in a contract?

Direct damages are “the necessary and usual result of the defendant’s wrongful act; they flow naturally and necessarily from the wrong.”[1] Direct damages are intended to compensate the plaintiff for the loss incurred that was foreseeable by the defendant from his wrongful act.

What is conditional obligation in law?

A conditional obligation is one the fulfillment of which is a subject to a certain condition which may be an event, which may or may not happen. It could be suspensive or resolutory. A suspensive condition is a future or uncertain event, the happening of which give birth to the obligation.

What are the kinds of penal clause?

What are the different kinds of penal clauses? There are penal clauses imposed by law and there are those which are agree upon by the parties to an agreement. The former are called “legal penal clauses” and the latter are called “conventional penal clauses.” Penal clauses are also said to be subsidiary or joint.

What is joint penal clause?

Joint penal clause or can also be called as cumulative penal clause is when both the. principal obligation and the penal clause can be enforced.

What is a contract of partnership?

A partnership agreement is a legal document that dictates how a small for-profit business will operate under two or more people. The agreement lays out the responsibilities of each partner in the business, how much of the business each partner owns, and how much profit and loss each partner is responsible for.

What is a contract Civil Code?

The Civil Code defines a contract as “a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service.” For there to be a valid contract, these three elements must be present: consent, object, and cause.

What is a suspensive sale?

Typically, in a sale agreement, a suspensive condition relates to the approval of the buyer’s bond, the sale of the buyer’s current home or the purchase of a new home by the seller.