What is obligation period?

What is obligation period?

Obligation Period means the period(s) of time during which the Participant is required to fulfill its EE Capacity Obligation.

What is Resolutory?

: operating to annul or terminate.

What does Resolutory condition mean?

RESOLUTORY CONDITION. On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months.

What is the difference between a Resolutory condition from a suspensive condition?

If the obligation may not be enforced until the uncertain event occurs, the condition is suspensive. If the obligation may be immediately enforced but will come to an end when the uncertain event occurs, the condition is resolutory.

What is presumption as to benefit of period?

“Whenever in an obligation a period is designated, it is presumed to have been established for the benefit of both the creditor and the debtor, unless from the tenor of the same or other circumstances it should appear that the period has been established in favor of one or of the other.”

What do you call a period?

menses. the monthly flow of blood from a woman’s body. The usual word for this is period.

What is a Resolutory condition Philippines?

Resolutive conditions In the case of a resolutive condition, there is no suspension or postponement of terms in a contract. Rights and obligations come into existence immediately upon agreement between the parties. If a resolutive condition is fulfilled, the operation of the rights and obligations cease.

What article is Resolutory condition?

[1] Paragraph 2, Article 1179, Civil Code.

What is the effect when Resolutory condition is fulfilled?

Rights and obligations come into existence immediately upon agreement between the parties. If a resolutive condition is fulfilled, the operation of the rights and obligations cease. The contract determines that if the employee commits a crime, the employment contract will immediately become null and void.

When does a resolutory period come into effect?

Obligations for whose fulfillment a day certain has been fixed, shall be demandable only when that day comes. Obligations with a resolutory period take effect at once, but terminate upon arrival of the day certain. A day certain is understood to be that which must necessarily come, although it may not be known when.

What is resolutory condition?

Resolutory condition. RESOLUTORY CONDITION. On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months. My ship arrives in one month, my contract with you is revoked. 1 Bouv. Inst.

What is the root word of resolutory?

Legal Definition of resolutory : operating to annul or terminate History and Etymology for resolutory Late Latin resolutorius dissolving, from Latin resolvere to loosen, dissolve, break up, from re- away, back + solvere to loosen, release

What is the difference between a suspensive condition and resolutory condition?

Therefore, we make the distinction between a suspensive condition and a resolutory condition. If the sale is concluded under the suspensive condition, the ownership transfer of the individually determined asset is conditioned by the accomplishment of that condition. New regulations concerning the contractual risk in internal legal circuit