Caldit Law Office

19/05/2025

In legal terms, annulment is a court proceeding that declares a marriage as if it never happened, meaning it was void from the beginning. This differs from divorce, which acknowledges the validity of a marriage but terminates it. Annulment typically applies when there was a legal impediment to the marriage from its inception, such as fraud, force, or the absence of parental consent for a minor.

19/05/2025

What does 'PS' mean?
"PS" is an abbreviation for "postscript." It derives from the Latin word "postscriptum," which roughly translates to "write after."

In letter and email writing, "PS" is used to add extra information at the end of your message, according to the Cambridge Dictionary. Many people also use "PS" colloquially when they want to share an afterthought in conversations.

19/05/2025

The Bangko Sentral ng Pilipinas (BSP) amended the rules implementing the Truth in Lending Act (R.A. No. 3765) through Circular No. 730, Jur.ph says. This amendment, issued on July 17, 2012, aims to enhance transparency in loan pricing and disclosure practices. The objective is to make lending rates more understandable and comparable to consumers, facilitating better-informed financial decisions.

14/05/2025

23/03/2025

23/03/2025

Attorney At Law and Notary Public

23/03/2025

The law on Obligations and Contracts, a branch of private law, deals with the rights and duties arising between individuals and is governed by the Civil Code of the Philippines. It outlines the creation, enforcement, and termination of obligations, including those arising from contracts, quasi-contracts, delicts, and quasi-delicts.

Here's a more detailed breakdown:

1. What is an Obligation?
An obligation is a legal relationship where one person (the creditor or obligee) can demand that another person (the debtor or obligor) perform a specific action (giving, doing, or not doing).
If the debtor fails to fulfill the obligation, the creditor can seek legal remedies, including damages.

2. Sources of Obligations
Contracts: Agreements between parties creating legally binding obligations.
Quasi-contracts: Obligations arising from lawful, voluntary, and unilateral acts that create a juridical tie between the parties.
Delicts (Crimes): Obligations arising from criminal offenses.
Quasi-delicts (Torts): Obligations arising from negligence or fault that causes damage to another, but without a pre-existing contractual relationship.

3. Key Concepts in Obligations and Contracts
Elements of an Obligation:
Passive Subject (Debtor/Obligor): The person who has the duty to perform.
Active Subject (Creditor/Obligee): The person who has the right to demand performance.
Object or Prestation: The subject matter of the obligation (giving, doing, or not doing).
Juridical Tie: The legal basis for the obligation (e.g., contract, law).
Types of Obligations:
Pure Obligations: Obligations that are immediately demandable.
Conditional Obligations: Obligations whose existence or demandability depends on a condition.
Obligations with a Period: Obligations whose fulfillment is subject to a specific date or event.
Contract Formation:
Consent (Meeting of Minds): Agreement between parties to create a contract.
Object: The subject matter of the contract.
Cause or Consideration: The reason why the parties entered into the contract.
Contractual Obligations:
Good Faith: Parties are expected to comply with the terms of the contract in good faith.
Breach of Contract: Failure to fulfill contractual obligations.
Remedies for Breach: Legal actions to enforce the contract or seek damages.

4. Relevant Articles in the Civil Code of the Philippines

Article 1170:
Those who in the performance of their obligations are guilty of fraud, negligence, or delay, and those who in any manner contravene the tenor thereof, are liable for damages.

Article 1171:
The obligation to deliver a determinate thing includes that of delivering all its accessions and accessories in the condition in which they are at the time of the constitution of the obligation.

Article 1185:
The condition that some event will not happen at a determinate time shall render the obligation effective from the moment the time indicated has elapsed, or if it has become evident that the event cannot occur.

Article 1345:
The simulation of a contract may either be absolute or relative.
Article 1387:
All contracts by virtue of which the debtor alienates property by gratuitous title are presumed to have been entered in fraud of creditors, when the donor did not reserve sufficient property to pay all debts contracted before the donation.