This case has been cited 4 times or more.
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2012-10-10 |
BRION, J. |
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| "An assignment of credit is an agreement by virtue of which the owner of a credit, known as the assignor, by a legal cause, such as sale, dation in payment, exchange or donation, and without the consent of the debtor, transfers his credit and accessory rights to another, known as the assignee, who acquires the power to enforce it to the same extent as the assignor could enforce it against the debtor. It may be in the form of sale, but at times it may constitute a dation in payment, such as when a debtor, in order to obtain a release from his debt, assigns to his creditor a credit he has against a third person."[12] As a dation in payment, the assignment of credit operates as a mode of extinguishing the obligation;[13] the delivery and transmission of ownership of a thing (in this case, the credit due from a third person) by the debtor to the creditor is accepted as the equivalent of the performance of the obligation.[14] | |||||
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2012-02-08 |
SERENO, J. |
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| Indeed, pursuant to Article 1232 of the Civil Code, an obligation is extinguished by payment or performance. There is payment when there is delivery of money or performance of an obligation.[20] Article 1245 of the Civil Code provides for a special mode of payment called dation in payment (dación en pago). There is dation in payment when property is alienated to the creditor in satisfaction of a debt in money.[21] Here, the debtor delivers and transmits to the creditor the former's ownership over a thing as an accepted equivalent of the payment or performance of an outstanding debt.[22] In such cases, Article 1245 provides that the law on sales shall apply, since the undertaking really partakes - in one sense - of the nature of sale; that is, the creditor is really buying the thing or property of the debtor, the payment for which is to be charged against the debtor's obligation.[23] Dation in payment extinguishes the obligation to the extent of the value of the thing delivered, either as agreed upon by the parties or as may be proved, unless the parties by agreement - express or implied, or by their silence - consider the thing as equivalent to the obligation, in which case the obligation is totally extinguished.[24] | |||||
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2011-02-14 |
MENDOZA, J. |
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| The purpose of requiring the defendant to make a specific denial is to make him disclose the matters alleged in the complaint which he succinctly intends to disprove at the trial, together with the matter which he relied upon to support the denial. The parties are compelled to lay their cards on the table.[46] | |||||
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2007-07-04 |
CHICO-NAZARIO, J. |
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| In a more recent case, Aquintey v. Spouses Tibong,[32] this Court stated: "The law does not require any formal notice to bind the debtor to the assignee, all that the law requires is knowledge of the assignment. Even if the debtor had not been notified, but came to know of the assignment by whatever means, the debtor is bound by it." | |||||