Kinds of Obligations

There are different kinds of obligations, depending on the classification used.

There are different kinds of obligations, depending on the classification used:

  1. If based on the presence or absence of a condition or term (period):

    1. Pure Obligation;

    2. Conditional Obligation;

    3. Obligation with a term or period

  2. If based on number of prestations or objects:

    1. Simple Obligation

    2. Compound Obligation

    3. Disjunctive Obligation

      1. Alternative Obligation

      2. Facultative Obligation

    4. If based on number of subjects:

    5. Simple Obligation

    6. Joint Obligation

    7. Solidary Obligation

    8. If based on susceptibility to partial performance:

    9. Divisible Obligation

    10. Indivisible Obligation

    11. Obligations with a Penal Clause

The unilateral imposition of interests, at such rate that the lender or mortgagee so pleases, cannot and should not be reason to justify a foreclosure sale. The mortgagor should be given a chance to pay their indebtedness at an interest rate clearly agreed upon by the parties, otherwise, they shall be at the mercy of their creditor, standing to lose their property without being afforded a fair opportunity to settle their indebtedness.

Why choose ALBURO LAW?

Alburo Alburo & Associates Law Offices:

• Have labor law and business law as our main fields of practice. For almost a decade now, we have been helping businesses improve their productivity and profitability by helping them comply with relevant laws, rules, and regulations.

• Observe high standards of excellence.

• Always consider innovative approaches to effectively address the legal concerns of our clients, covering a wide range of industries such as food, manufacturing, chemicals, real estate, retail and wholesale trade, and services in fields such as information technology, human resources, security, training, process outsourcing and other manpower services, among many others.

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