What does Solidarily liable mean?
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What does Solidarily liable mean?
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 a joint and solidary obligation?
In a joint obligation “each obligor answers only for a part of the whole liability and to each obligee belongs only a part of the correlative rights.” Whereas, in “a solidary or joint and several obligation, the relationship between the active and the passive subjects is so close that each of the former or of the …
What is condonation or remission of debt?
The condonation or remission of debt is a mode of extinguishment of obligation wherein the creditor gratuitously renounced his right against the debtor with the latter’s acceptance. The remission is simply a form of donation. It may be made expressly or impliedly.
What is a joint divisible obligation?
When a joint obligation is divisible, each joint obligor is bound to perform, and each joint obligee is entitled to receive, only his portion. When a joint obligation is indivisible, joint obligors or obligees are subject to the rules governing solidary obligors or solidary obligees.
What is divisible obligation example?
(a) Legal when an object or prestation, which is divisible by nature, is declared. (Example: The obligation to pay income taxes on or before April 15 every year.) (Example: D promised to pay C his P100,000 debt on August 1, 2015.)
What are the kinds of solidary obligation according to the legal tie?
1211: Kinds of solidary obligation according to legal tie: 1. Uniform: the parties are bound by the same stipulations. 2. Non-uniform or varied: the parties are not subject to the same stipulations.
What is a joint debtor?
The term joint debtor describes the second person listed on a bankruptcy petition when a married couple files bankruptcy. The first person listed on a bankruptcy petition is the debtor. There is no rule in the Bankruptcy Code that states either the husband or wife must be the debtor or joint debtor.
What is facultative obligation?
Facultative obligation refers to a type of obligation where one thing is due, but another is paid in its place. In such type of obligations there is no alternative provided. The debtor is given the right to substitute the thing due with another that is not due.
How is payment affecting the obligation?
Payment, the performance of an obligation to pay money. In law, in order that payment may extinguish the obligation, it is necessary that it be made at a proper time and place, in a proper manner, and by and to a proper person.
What is alternative obligation?
An obligation is alternative when two things are equally due, under an alternative. The obligor is bound to render only one of two or more items of performance. Where a person engages to do, or to give several things the payment of one will acquit him of all.
