Home
Dacion en Pago – mode of extinguishing an obligation whereby the debtor alienates in favor of the creditor property for the satisfaction of monetary debt;
extinguish up to amount of property unless w/ contrary stipulation;
A special form of payment because 1 element of payment is missing: IDENTITY
• Governed by law on sales
• Conditions for a valid dacion:
1) If creditor consents, for a sale presupposes the consent of both parties
2) If dacion will not prejudice the other creditors
3) If debtor is not judicially declared insolvent
extinguish up to amount of property unless w/ contrary stipulation;
A special form of payment because 1 element of payment is missing: IDENTITY
• Governed by law on sales
• Conditions for a valid dacion:
1) If creditor consents, for a sale presupposes the consent of both parties
2) If dacion will not prejudice the other creditors
3) If debtor is not judicially declared insolvent
