9.4. OBLIGATIONS WITH A PERIOD

"ART 1193: Obligations for whose fulfillment a day certail has been fixed, shall be demandable only when that day comes.

 Obligations with a resolutory period take effect at once, but terminate upon arrival of the day certain.

A day certain is undestood to be that which must necessarily come, although it may not be known when.

If the uncertainty consists in whether the day will come or not, the obligation is conditional, and it shall be regulated by the rules of the preceeding section. 

An obligation with a period is one whose effects or consequences are subjected in one way or another to the expiration or arrival of said period or term. 

A period is a future and certain event upon the arrival of which the obligation (or right) subject to it either arises or is terminated. It is a day certain which must necessarily come.

9.4.1. KINDS OF PERIOD OF TERM

ACCORDING TO EFFECT

1. Suspensive period (ex die) - the obligation begins only from a day upon the arrival of period.
2. Resolutory period (in diem) - the obligation is valid uo to a day certain and terminates upon arrival of the period.

ACCORDING TO SOURCE

1. Legal period - period provided by laws
2. Conventional or voluntary period - when it is agreed to by the parties
3. Judicial period - when it is fixed by the court

ACCORDING TO DEFINITENESS

1. Definite period - when it is fixed or it is known when it will come
2. Indefinite period - when it is not fixed or it is not known when it will come

9.4.2. LOSS OR DETERIORATION

"ART. 1194: In case of loss, deterioration or improvement of the thing before the arrival of teh day certain, the rules in Art. 1189 shall be observed.

9.4.3. PAYMENT BEFORE ARRIVAL OF PERIOD

 "ART. 1195: Anything paid or delivered before the arrival of the period, the obligor being unaware of the period or believing that the obligation has become due and demandable, may be recovered, with the fruits, and interests."

 The recovery of what has been paid by mistake before the fulfillment of a suspensive condition is allowed.

The creditor cannot unjustly retain the thing or money received before the arrival of the period.

9.4.4. DEBTOR PRESUMED AWARE OF PERIOD

The debtor is presumed to know that debt is not yet due.

The obligor many no longer recover the thing or money once the period has arrived but he can recover the fruits or interests from the date of premature performance to the date of maturity of the obligation.

"ART. 1197: If the obligation does not fix a period, but from its nature and the circumstances it can be inferred that a period was intended, the courts may fix the duartion thereof.

The courts shall also fix the duration of the period when it depends upon the will of the debtor.

In every case, the courts shall determine such period as may under the circumstances have been probably contemplated by the parties. Once fixed by the courts, the period cannot be changed by them. 

If the obligation does not state a period and no period is intended, the court is not authorized to fix a period. 

9.4.5. OBLIGATION DEMANDED BEFORE LAPSE OF PERIOD

"ART. 1198: The debtor shall lose every right to make use of the period:

(1) When after the obligation has been contracted, he becomes insolvent, unless he gives a guaranty or security for the debt.

(2) When he does not furnish to the creditor the guaranties and securities which he has promised.

(3) When by his own acts he has impaired said guaranties or securities ater their establishment, and when through a fortuitous event they disappear, unless he immediately gives new ones equally satisfactory.

(4) When the debtor violates any undertaking, in consideration of which the creditor agreed to the period.

(5) When the debtor attempts to abscond.