Asked by: Kendall Montoiro
business and finance bankruptcy

What is a facultative obligation?

28
Facultative obligation refers to a type of obligation where one thing is due, but another is paid in its place. In such type of obligations there is no alternative provided. The debtor is given the right to substitute the thing due with another that is not due.


Just so, what is alternative obligation?

Alternative Obligation Law and Legal Definition. An obligation is alternative when two things are equally due, under an alternative. The obligor is bound to render only one of two or more items of performance.

Beside above, what is obligation with a period? Obligation with a Period. An obligation with a period is a kind of obligation wherein its performance is subject to a term or period, and can only be demandable when that period expires. Such period is 'a day certain' which must necessarily come, although it may not be known when.

In this regard, what is facultative compensation?

The facultative compensation is one of ways how the larger companies can fulfil their legal obligation to employ persons with disabilities. The facultative compensation relates to those employees who have more than 25 employees.

What are the kinds of obligation?

In legal terminology, there are several forms of obligation, including:

  • absolute obligation.
  • contractual obligation.
  • express obligation.
  • moral obligation.
  • penal obligation.

Related Question Answers

Deanne Lotosh

Professional

What is divisible obligation?

Divisible obligation. obligation in which the object, in its delivery or performance, is capable of partial fulfillment. Indivisible obligation.

Karma Inghels

Professional

What is simple obligation?

Simple obligation. An unconditional obligation, one which is to be performed without depending upon any event provided by the parties to it.

Benaouda Deleito

Professional

What is alternative and facultative obligation?

Facultative obligation refers to a type of obligation where one thing is due, but another is paid in its place. In such type of obligations there is no alternative provided. The debtor is given the right to substitute the thing due with another that is not due.

Haitz Belmar

Explainer

What is pure and conditional obligation?

Pure Obligation – one which does not contain any condition or term upon which its fulfillment is made to depend. Conditional Obligation – kind of obligation which is subject to condition. Resolutory (condition subsequent) – extinguishes the obligation which is already existing.

Ardis Dahlke

Explainer

What is compound obligation?

Kinds of obligation according to subject: They are: 1. COMPOUND OBLIGATION – one where there are two or more prestations. It may be: A. CONJUNCTIVE OBLIGATION – one where there are several prestations and all of them are due; or B. DISTRIBUTIVE OBLIGATION – one where one two or more of the prestations is due.

Weiqin Weidenthaler

Explainer

What is joint and solidary obligation?

In a solidary (or joint and several) obligation, a debtor can be held liable for the whole amount, and after that debtor pays the whole obligation, that same debtor can then proceed against his other debtors to be paid/reimbursed for the rest of the obligation.

Yongqing Seara

Pundit

What are the limitations on the right of choice of the debtor in alternative obligation?

LIMITATION ON THE DEBTOR'S CHOICE (1) The debtor cannot choose those prestations which are (a) impossible , (b) unlawful ,or (c) which could not have been the object of the obligation. (2) Only one prestation is practicable (3) The debtor cannot choose part of one prestation and part of another prestation.

Ouiame Farrando

Pundit

What type of obligation has only one prestation?

Facultative obligation, concept – A facultative obligation is an obligation where only one prestation has been agreed upon but the debtor may render another in substitution.

Ixchel Curte

Pundit

What is obligation compensation?

The compensation is a mode of extinguishment of obligation wherein there is simultaneous balancing or weighting of two obligations of two persons who are reciprocally debtors and creditors of each other. It extinguishes to the extent in which the amount of one is covered by that of the other.

Umayma Schlottbom

Pundit

What is pure obligation?

A pure obligation is a debt which is not subject to any conditions and no specific date is mentioned for its fulfillment. A pure obligation is immediately demandable. It is an obligation with respect to which no condition precedent remains which has not been performed.

Maruja Geerlings

Pundit

What is Resolutory period?

“resolutory period” – period upon the arrival of which the obligation terminates Obligation with a Period.

Sughran Pyslar

Teacher

What is the effect of solidary obligation?

A solidary obligation is almost always an advantage for a creditor because it will either allow any creditor to demand the entirety of the debt from the sole debtor when the solidarity is active, or it will allow the creditor to demand the entirety of the debt from any of the multiple debtors when it is passive.

Aldara Meltsner

Supporter

What is moral and legal obligation?

Moral obligations are those things you do no matter what because they are the “right” (morality is so subjective and steeped heavily in culture or counterculture and time) things to do. Legal obligations are those things you do no matter what regardless of how wrong they are because of a dictate from the State.

Pascasio Indovino

Supporter

What is difference between duty and obligation?

Law: What is the difference between a duty and an obligation? A duty is what you owe to your fellow human as a fact of nature, and an obligation is what has been imposed by contract or custom. Generally, one is “obliged,” or “obligated,” by agreement or because of having received a benefit.

Ionita Pite

Supporter

What is moral obligation?

Moral obligation is an obligation arising out of considerations of right and wrong. It is an obligation arising from ethical motives, or a mere conscientious duty, unconnected with any legal obligation, perfect or imperfect, or with the receipt of benefit by the promisor of a material or pecuniary nature.

Bojana Wanstrath

Beginner

What is personal obligation?

Personal Obligations means any liability or other obligation accrued, incurred or payable by the Company to or for the benefit of Daniels or Swanson or either of them.

Sinivali Meglio

Beginner

What are social obligations?

Social is defined as relating to society or its organization. Obligation is defined as a duty or commitment: being legally or morally bound to do something. Or; a debt of gratitude for a service or favor. As individuals, we find ourselves obligated to follow society's traditions and social etiquette.

Amira Orsanto

Beginner

What are the 4 elements of obligation?

Every obligation has four essential requisites otherwise known as the elements of obligation. They are: the obligor: obligant duty-bound to fulfill the obligation; he who has a duty. the obligee: obligant entitled to demand the fulfillment of the obligation; he who has a right.

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25th March, 2021

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