What is the difference between a suspensive and resolutive condition?

What is the difference between a suspensive and resolutive condition?

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 suspensive condition example?

Examples of suspensive conditions are obtaining bond approval before a certain date, or the sale of the Purchaser’s current property before a certain date. It is very important for both the Seller and Purchaser to take note of the wording of these conditions and ensure that they understand them.

What is the meaning of suspensive condition?

Legally a suspensive condition can be described as a condition which suspends the operation or effect of one, or some, or all, of the obligations under a contract until the condition is fulfilled. If the condition is not fulfilled, then no contract comes into existence.

How is suspensive condition different from an obligation with a period?

When a period is left exclusively to the will of the debtor, the existence of the obligation is not affected. When a suspensive condition is left exclusively to the will of the debtor, the very existence of the obligation is affected.

What are the 2 classification of obligations?

Arise from law  Conventional Obligation – An obligation arising out of a contract  Penal Obligation – An Obligation arises from delicts and criminal offences 4.

What is Resolutive time clause?

June 27, 2016 No Comments on Resolutive time clause. A clause that limits the period of time that the obligations outlined in a contract have an effect and can be enforced. This period can be defined by the arrival of a specific moment or as a fixed length of time (Schulze et al., 2016: 105).

What are the 3 kinds of condition?

These are:

• Conditions precedent.
• Conditions concurrent, and.
• Conditions subsequent.

Is a Resolutive condition binding upon signature?

What is a resolutive condition? If there is a resolutive condition in the contract, the contract is immediately binding after signatures by both parties. It remains binding, subject to fulfillment of the future event stipulated in the condition.

What are the 3 kinds of obligation?

Obligations are of three kinds: imperfect obligations, natural obligations, and civil obligations.

What is joint and solidary obligation?

As explained by the Supreme Court: A solidary or joint and several obligation is one in which each debtor is liable for the entire obligation, and each creditor is entitled to demand the whole obligation.

What is suspensive condition Philippines?

A suspensive condition is a condition which (as the name suggests) suspends rights and obligations until the uncertain future event occurs. Upon the occurrence of the event, the suspended part of the contract (or indeed the entire contract) is brought to life.

What is Potestative suspensive condition?

A potestative condition is a condition suspensive in nature and which depends upon the sole will of one of the contracting parties.[1] The first part of Article 1182 talks about the condition that is potestative to the debtor and, at the same time, suspensive.[2] The obligation is void when the condition is both …

What is unilateral and bilateral contract?

Contracts can be unilateral or bilateral. In a unilateral contract, only the offeror has an obligation. In a bilateral contract, both parties agree to an obligation. Typically, bilateral contracts involve equal obligation from the offeror and the offeree.

Is suspensive condition Demandable at once?

A suspensive condition is a future or uncertain event, the happening of which give birth to the obligation. (ex.) Algy Reguir Promises to give Miss Capio a condo unit if she pass the bar exam. The obligation cannot be demanded at once bur becomes demandable only upon Miss Capio passing the Bar.

What are the 5 kinds of obligation?

DIFFERENT KINDS OF OBLIGATION

• Pure and conditional obligation.
• Obligations with a period.
• Alternative and facultative obligations.
• Joint and solidary obligations.
• Divisible and indivisible obligations.
• Obligations with a penal clause.

What is the difference between joint and solidary?

A joint obligation is distinguished from a solidary obligation in that the creditor in a joint obligation can take action only against all the debtors together.

What are the two 2 types of solidary obligation?

There are two kinds of solidary obligation according to legal tie, first is the uniform, this is when the parties are to fulfill the obligation in the same stipulations. Next is the Non- uniform or varied, this is when the parties are not bound with the same stipulations.

What is Potestative condition?

A potestative condition is a condition, the fulfillment of which depends upon the sole will of the debtor, in which case, the conditional obligation is void.

What is protest ative condition?