Problem
Subject: The Law on Obligations and Contracts
Kindly answer the following questions:
I. Distinguish divisible and indivisible obligations.
II. A and B bind themselves to pay C their loan of P10,000 on a certain date. Is the obligation divisible or indivisible? Explain your answer.
III. Define obligation with a penal clause.
IV. What are the purposes of incorporating a penal clause to an obligation?
V. X promise to deliver to Y a specific horse. Their contract contains a penal clause that in case of non-fulfillment, X shall pay a penalty of P10,000. X wants to just pay the penalty instead of delivering the horse. Has Y the right to refuse to accept the penalty in lieu of the horse? Explain your answer.
VI. Define payment.
VII. D owes C P10,000 with G, as guarantor. On the due date of the obligation, T, a third person, offered to pay the obligation of D. Can C legally refuse to accept the payment? Explain. How about an offer of payment from G? Explain your answer briefly.