Quiz

• Obligations


  Juridical relation resulting from lawful, voluntary, and unilateral acts by virtue of which the parties become bound to each other to the end that no one shall be unjustly enriched or benefited at the expense of another
• Solutio Indebiti


  When something is received when there is no right to demand it, and it was unduly delivered through mistake
• Mora solvendi


  When the creditor makes a demand and the obligor fails to deliver the thing
• Delay


  • Demand is not necessary when: Creditor refuses the performance without just cause, The debtor is guilty of non-performance, Time is the controlling motive, If the obligation bears interest
• Accion subrogatoria


  The creditor may exercise all of the rights and bring all of the actions which the debtor may have against third persons if: The account is personal, The debtor's acts are fraudulent, The debtor has performed an act subsequent to the contract, giving advantage to other persons, Creditor must have the right of return against debtor
• Accion Pauliana


  Rescission, which involves the right of the creditor to attack or impugn by means of rescissory action any act of the debtor which is in fraud and to the prejudice of his rights as creditor provided: The debt is due and demandable, There is a failure of the debtor to collect his own debt from 3rd persons either through malice or negligence, The debtor's assets are insufficient, The debtor has performed an act subsequent to the contract, giving advantage to other persons
• Condition subsequent


  Causes the extinguishment or loss of rights already acquired upon the fulfillment of the condition, that is, the happening of the event which constitutes the condition
• When the thing deteriorates with the debtor's fault

  The creditor may choose: Mutual restitution, Rescission (cancellation) of the obligation with indemnity for damages, Suffer the deterioration of the thing, Institute an action for negligence
• Condition


  A future and certain event upon the arrival of which the obligation (or right) subject to it either arises or is terminated
• Obligation with a Period

  When the debtor binds himself to pay when his means permit him to do so
• Unenforceable contracts


  Contracts which cannot be sued upon unless ratified, thus it is as if they have no effect yet
• Obligation with a Period

  When the obligation of the debtor is "I will pay you my debt after I have arrived from abroad"
• Merger of Rights


  When the characters of the creditor and the debtor are merged in one and the same person, there is extinguishment of the obligation
• Fraud


  Through insidious words or machinations, A was able to induce B to enter into a contract which without them B would not have agreed to it
• Potestative Condition


  "A sells to B his lot and house in the city if A decides to transfer and live in the countryside"
• Compensation


  A mode of extinguishing an obligation when two persons in their own right are creditors of each other
• Contract in the stage of conception

  When negotiations are in progress
• Conditional Obligation


  If the obligor binds himself to perform his obligation as soon as "he shall have obtained a loan" from a certain bank
• Voidable Contracts


  Contracts entered into in a state of drunkenness or during a hypnotic spell
• Mora solvendi ex re


  Delay in the giving or delivering of a thing
• When analysing markets, a range of assumptions are made about the rationality of economic agents involved in the transactions
• The Wealth of Nations was written

  1776
• Rational


  (in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by


  Placing the interests of the people they serve first in order to maximise their welfare
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• A firm increases advertising

  Demand curve shifts right
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility