Web5. The debtor may pay to any solidary creditor, but if a judicial demand is made on him, he must pay only to the plaintiff. 6. Each creditor may renounce his right even against the will of the debtor, and the latter need not thereafter pay the obligation to the former. b. Passive solidarity - one that exists among debtors. WebGlossary of Bankruptcy Terms. 341 Meeting. A meeting of creditors at which the debtor is questioned under oath by creditors, a trustee, examiner, or the United States trustee about his/her financial affairs. Adversary Proceeding. A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the bankruptcy court.
Potestative conditions in contracts - Lawyers in the Philippines
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What is a Spiritual Debtor? - What Christians Want To Know
WebIt is not dependent on the sole will of the debtor but also on the will of third persons who own the adjacent land and from whom the road right of way shall be negotiated. In a manner of speaking, such a condition is likewise dependent on chance as there is no guarantee that respondent and the third party-landowners would come to an agreement regarding the … WebThe principle of unlimited personal liability means that if the business incurs a debt or suffers a catastrophe (say, getting sued for causing an injury to someone), the owner is personally liable. As a sole proprietor, you put your personal assets (your bank account, your car, maybe even your home) at risk for the sake of your business. WebMar 23, 2024 · debtor and creditor, relationship existing between two persons in which one, the debtor, can be compelled to furnish services, money, or goods to the other, the … flying tiger shop manchester