This case has been cited 1 times or more.
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2007-02-19 |
CALLEJO, SR., J. |
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| Compensation takes effect by operation of law when all the requisites mentioned in Article 1279 of the New Civil Code are present and extinguishes both debts to the concurrent amount even though the creditors and debtors are not aware of the compensation. Legal compensation operates even against the will of the interested parties and even without their consent.[69] Such compensation takes place ipso jure; its effects arise on the very day on which all requisites concur.[70] | |||||