BL 1 Q4 BSCA

Merger in the person of the principal debtor or creditor extinguishes the obligation, hence, the accessory obligation of guaranty is ________.

• Not extinguished

• Extinguished

• Realized

• Enforceable

Mode of extinguishing an obligation when the thing perishes, or goes out of commerce or disappears in such a way that its existence is unknown or it cannot be recovered.

• Remission

• Condonation

• Payment

• Lost

In order that an obligation to give may be extinguished by the loss of the thing, any of the following requisites must be present, except:

• The debtor is not guilty of delay.

• The obligation to deliver a specific thing arises from a crime.

• The loss of the thing occurs without the fault of the debtor.

• The obligation is to deliver a specific or determinate thing.

A principle which states that a generic thing never perishes.

• Genus nunquam perit

• Nunquam genus perit

• Perit genus nunquam

• Genus perit nunquam

It consist in the nature of the thing to be done and not in the inability of the party to do so.

• Artificial impossibility

• Impossibility in fact

• Natural impossibility

• Supernatural impossibility

Impossibility in the absence of inherent impossibility in the nature of the thing stipulated to be performed, which is only improbable or out of the power of the obligor.

• Impossibility in fact

• Natural impossibility

• Supernatural impossibility

• Artificial impossibility

The loss of thing will not extinguish liability in the following instances, except:

• The debtor is not guilty of delay.

• The obligation to deliver a specific thing arises from a crime.

• The nature of the obligation requires the assumption of risk.

• The law so provides.

It is an essential characteristic of remission that there is no equivalent received for the benefit given.

• Consensual

• Onerous

• Compensation

• Gratuitous

It is the gratuitous renunciation by the creditor of his right against the debtor resulting in the extinguishment of the latter’s obligation in its entirely or in that part of the same to which the renunciation refers.

• Payment

• Loss

• Condonation

• Compensation

A mode of extinguishing an obligation which is a form of donation.

• Compensation

• Condonation

• Payment

• Confusion