Back

Galar v Isasi

LUIS GALAR, plaintiff and appellee, vs. JUAN ISASI, defendant and appellant ABERRI, INC., plaintiff and appellant, vs. LUIS GALAR, defendant and appellee

No. 3395-R/No. 3396-R | 1949-09-14

      

1. OBLIGATIONS AND CONTRACTS; DEBTOR AND CREDITOR; PROMISSORY NOTES; DEMAND NOTE, ITS NATURE AND LEGAL EFFECT.- A demand note is subject to neither a suspensive condition nor a suspensive period. The demand is not a condition precedent, since the effectivity and binding effect of the note does not depend upon the making of the demand; the note is binding even before the demand is made. Neither does the demand constitue an implied suspensive period (term ex die), since there is nothing to prevent the creditor from making demand at any time. It foprollows, therefore, that a demand note is strictly a pure obligation...