Page 29 - Obligations & Contracts Module 1-2

Extinguishment of Obligations

Modes of Extinguishment of Obligation:

1. Payment or performance

2. Loss of the thing due

3. Condonation or remission of debt

4. Confusion or merger of rights

5. Compensation

6. Novation

7. Annulment

8. Rescission

9. Fulfillment of Resolutory Condition

*Payment or Performance – delivery of money and performance, in any other

manner of the obligation

*Requisites For Valid Payment/Performance

A. With respect to prestation itself:

(1) identity

(2) integrity or completeness

(3) Indivisibility