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Categories Of Obligations

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Chapter Summary

This chapter on categories of obligations contains several articles concerning indefinite and specific obligation, currency obligation and interest obligation, alternative obligations, several obligation, indivisible obligation, joint and several obligation. An indefinite obligation refers to when the subject matter of performance is only decided by variety, and not by the specific quality. If the type of currency for paying a currency obligation is not indicated by the parties, the obligor can pay off using any common currency unless otherwise provided by law. If the subject matter of obligations can be chosen from many performance possibilities, the right to choose shall belong to the obligor unless otherwise provided by law or agreed by the parties. If the obligors or the obligees are more than two persons and their rights and obligations can be confirmed, they shall share the rights or obligations based on the confirmed shares.

Keywords: currency obligation; indivisible obligation; interest obligation; specific obligation



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