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October 19, 2022

Subject: The Law of Obligations and Contracts

Subject: The Law of Obligations and Contracts

PAYMENT (Article 1240 to 1261)

Kindly answer the questions below:

1. Explain dation in payment.

2. Explain application of payment.

3. Define consignation.

4. Give the requisites of payment by cession. What rights are acquired by the creditor in this form of payment as distinguished from dation in payment?

5. D owes C P10,000 in payment for which C accepts a check from D. On the ground that a check is not legal tender, C later insists that D pay him in cash. Is D justified in rejecting this demand of C?

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