This case has been cited 2 times or more.
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2014-01-15 |
BERSAMIN, J. |
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| "fn">[26] Loan is a reciprocal obligation, as it arises from the same cause where one party is the creditor, and the other the debtor.[27] The obligation of one party in a reciprocal obligation is dependent upon the obligation of the other, and the performance should ideally be simultaneous. This means that in a loan, the creditor should release the full loan amount and the debtor repays it when it becomes due and demandable.[28] In its assailed decision, the CA found and held thusly: x x x x | |||||
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2013-11-13 |
REYES, J. |
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| In reciprocal obligations, before a party can demand the performance of the obligation of the other, the former must also perform its own obligation.[49] For its failure to turn over a complete project in accordance with the terms and conditions of the installation contracts, CIGI cannot demand for the payment of the contract price balance from AMC, which, in turn, cannot legally be ordered to pay. Otherwise, AMC will be effectively forced to accept an incomplete performance contrary to Article 1248 of the Civil Code which states that "(u)nless there is an express stipulation to that effect, the creditor cannot be compelled partially to receive the prestations in which the obligation consists." | |||||