A" Borrowed P2,000 From "B" On December 1, 1956. He Executed A Promissory Not…

A” borrowed P2,000 from “B” on December 1, 1956. He executed a promissory note promising to pay the indebtedness on December 1, 1958. Upon the arrival of the designated date for payment, is demand necessary in order that “A” shall incur in delay?

Answer:

This question must be answered affirmatively. The first exception is self-evidently not applicable. For the first exemption in Art. 1169 of the NCC to apply, the duty or legislation must expressly specify that if the obligor fails to complete the obligation by the appointed date, the obligor will be delayed, or that a demand will not be necessary upon the arrival of such day

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