What are the remedies available to creditors for the satisfaction of their claims?
What are the remedies available to creditors for the satisfaction of their claims?
Remedies available to Creditors- a brief explanation
- Attachment of Earnings. You can ask the court to send an order to the person’s employer, to take money from wages to pay the debt.
- Freeze assets or money in an account.
- Charge the person’s land or property.
- Send bailiffs to collect payment.
What are the remedies of creditor in real obligation?
In case the debtor does not comply with his obligation, the creditor may avail himself of the following remedies to satisfy his claim:
- Exact fulfillment (specific performance) with the right to damages.
- Pursue the leviable property of the debtor.
- Exercise all rights and actions to the debtor.
What are the duties of a person who is obliged to give a determinate thing?
Duty to Deliver the Determinate Thing In obligations to give a determinate thing, the obligor or debtor binds himself to deliver to the obligee or creditor a thing or object which is particularly designated or physically segregated from all others of the same class.
What are the 2 kinds of personal obligation?
There are 2 kinds of personal obligation: a. Positive personal obligation or obligation to do or render service.
What are the kinds of obligations?
Different Kinds of Obligation (Primary) (Section 1: Pure and Conditional…
- Section 1: Pure and Conditional Obligation.
- Section 6: Obligation with a Penal Clause.
- Section 2: Obligations with a Period.
- Section 3: Alternative Obligation.
- Section 4: Joint and Solidary Obligations.
- Section 5: Divisible and Indivisible Obligation.
Who are the persons incapacitated to give consent?
The persons enumerated under Article 1327 incapacitated to give consent to contracts due to their lack of mental capacity to do so. They are either deaf-mutes, insane or demented.
What do you understand by contracting and contracting out?
: to agree by contract to pay someone outside an organization to perform (a job) The company contracted out its manufacturing jobs.
Why is contracting important?
In business, contracts are important because they outline expectations for both parties, protect both parties if those expectations aren’t met and lock in the price that will be paid for services.
