What is the difference between a suspensive and resolutive condition?
A resolutive condition is an arrangement between the parties that the agreement of sale will terminate on the happening of a certain future event. Unlike with a suspensive condition, the agreement is immediately binding with all the rights and obligations contained therein from the day of conclusion thereof.
What is a suspensive condition in a contract?
Legally a suspensive condition can be described as a condition which suspends the operation or effect of one, or some, or all, of the obligations under a contract until the condition is fulfilled. If the condition is not fulfilled, then no contract comes into existence.
What is a Resolutive term?
1 : serving to dissolve or relax : designed to dissolve a resolutive medical application. 2 : operating to resolve or annul a resolutive condition in an agreement. 3 : analytical, explicative —used chiefly in formal logic.
What is Resolutive time clause in law?
June 27, 2016 No Comments on Resolutive time clause. A clause that limits the period of time that the obligations outlined in a contract have an effect and can be enforced. This period can be defined by the arrival of a specific moment or as a fixed length of time (Schulze et al., 2016: 105).
What is suspensive condition Philippines?
A suspensive condition is a condition which (as the name suggests) suspends rights and obligations until the uncertain future event occurs. Upon the occurrence of the event, the suspended part of the contract (or indeed the entire contract) is brought to life.
What are the legal effects of the suspensive condition happening?
The main effect of the fulfilment of a suspensive condition is that the parties must perform their obligations as though the obligations had existed from the date the contract was signed.
What is suspensive period?
Suspensive Period means the collection of two successful debits in a row before you can use and enjoy the Maintenance Plan.
What is the legal effect if the suspensive condition does not happen?
A suspensive condition is a term or clause within a contract that clearly stipulates a particular criterion that must be met in order for the contract to come into force. Should the suspensive condition(s) not be met, the contract will be void.
What is Article 1190 all about?
Art. 1190. When the conditions have for their purpose the extinguishment of an obligation to give, the parties, upon the fulfillment of said conditions, shall return to each other what they received.
What is a suspensive condition Philippines?
What are the obligations which are considered as indivisible?
An obligation is divisible when the object of the performance is susceptible of division. An obligation is indivisible when the object of the performance, because of its nature or because of the intent of the parties, is not susceptible of division.
Which is an obligation with a suspensive period?
Suspensive period is an obligation that begins only when the day certain arrives. According to the Article 1193, paragraph 1, Obligations for whose fulfillment a day certain has been fixed, shall be demandable only when that day comes.