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A suspensive condition is a legal concept in contract law that refers to a condition that must be fulfilled before a contract becomes effective or enforceable. For example, if a person agrees to buy a house contingent upon receiving a mortgage approval, the contract is subject to the suspensive condition of securing financing. Until the condition is met, the obligations under the contract are suspended. If the condition is not satisfied, the contract may be rendered void.
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What is a positive suspensive condition?
A positive suspensive condition is a specific type of contractual condition that must be fulfilled for a contract to become effective. It represents a future event or action that, when it occurs, activates the contract's obligations. For example, if a contract is contingent upon a buyer securing financing, the contract only takes effect once the buyer successfully obtains that financing. This condition essentially suspends the contract's enforceability until the specified positive event occurs.
What is the difference between a suspensive and a resolutive condition?
(a) In the case of the suspensive condition, being one which suspends the operational effect of one, or some, or all of the obligations under a contract until the conditions are fulfilled, the risk will not pass until the suspensive conditions have been fulfilled.(b) The resolutive condition has a different effect. A sale subject to this type of condition will result in the risk passing as soon as formalities required for the completion of a sale agreement have been completed. The risk in conditional sales is as follows:-• in the case of a sale subject to a suspensive condition, the risk of total loss remains with the seller until the condition is fulfilled (as indicated above the risk does not pass with ownership). The reason the risk remains with the seller is due to the effect that a suspensive condition suspends the whole sale and until such time as the condition is fulfilled, there is no sale, thus risk cannot pass;• on the other hand, in the case of a sale subject to a resolutive condition, the risk of total loss passes to the buyer immediately the contract has been concluded. As indicated above, the sale operates immediately, with the result, that if the thing is destroyed before delivery, the buyer must nevertheless pay the price in full, for the risk has passed to the buyer.
What is the examples on article 1181?
Article 1181 of the Civil Code of the Philippines pertains to the effects of conditional obligations. It states that when the condition is suspensive, the obligation does not arise until the condition is fulfilled, while if the condition is resolutory, the obligation exists until the condition occurs. For example, if a person promises to pay another upon their graduation (suspensive condition), the obligation to pay arises only when the graduation takes place. Conversely, if someone gives a gift that must be returned if a certain event happens (resolutory condition), the gift remains with the recipient until that event occurs.
What is an example of a pure obligation?
Pure obligation is when one acts without any condition mandated by law. An example of pure obligation is, "I will give you this car."
What is is the explanation of Article 1203 obligation and contracts?
Article 1203 of the Civil Code pertains to the obligations arising from contracts, specifically addressing the effects of obligations that are subject to a condition, which may either be suspensive or resolutory. It stipulates that a condition must be lawful and possible for it to be valid. If the condition is fulfilled, the obligation arises or ceases accordingly. This article highlights the importance of conditions in determining the enforceability of contractual obligations.
What are examples of suspensive conditions?
Some examples of suspensive conditions include obtaining financing for a purchase, receiving satisfactory inspection results before closing a real estate deal, or securing regulatory approval for a business transaction to proceed. These conditions must be met before a contract can be finalized.
Difference between suspensive time and resolutive time clause?
A suspensive time clause: is when the parties agree that the duty to perform is postponed until a determined or determinable date due to the pending event, and that this event is certain to happen. However, the exact date is unknown. Example: A and B agree that A will pay a certain amount to B 90 days after C's death. (C's death is certain, but the exact date is uncertain. The duty to perform is then suspended until an uncertain, but determinable date) A resolutive time clause: is when the parties agree that the obligations in the contract will be terminated upon a certain future time. This exact time is certain to happen, but the exact date is unkown. Example: A and B agree to perform the obligations within the contract until B's death. Upon B's death, the contract is terminated. The event of B's death is certain, but the exact date is unknown. Both must be mentioned within the contract upon conclusion in the contract.
What is the value of a 2006 Winchester Model 70 30-06?
$1000 give or take if it is in excellent condition $1000 give or take if it is in excellent condition $1000 give or take if it is in excellent condition
What is suspensive pause?
A suspensive pause is a deliberate, brief interruption in speech or writing that creates anticipation or adds dramatic effect. It often occurs before revealing important information or during storytelling to heighten suspense. This pause allows the audience a moment to reflect or react, emphasizing the significance of what is to follow. Such pauses are commonly used in public speaking, literature, and theatrical performances.
What is the value of a 1873 springfield 45-70 rifle?
You need to give more details example serial numbers tell all about age. Condition is next,is it rusty, is the inside of the barrel shinny, does it have rifling? What is the condition of the stock and is it marked?
What is the value of a 1873 springfield 45 70 rifle?
You need to give more details example serial numbers tell all about age. Condition is next,is it rusty, is the inside of the barrel shinny, does it have rifling? What is the condition of the stock and is it marked?
When is a contract of sale considered perfecta?
A contract is considered perfecta if the object of sale has been clearly identified; the price has been determined; and there are no suspensive conditions
