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ART. 1193. Obligations for whose fulfillment a
day certain has been fixed, shall be demandable only
when that day comes.
Example:
Gaya borrowed P50, 000 from Tito which loan was secured
by a chattel mortgage on Gayas car. After obtaining the
loan, the car was lost by fortuitous event. Gaya loss her
right to make use of the period unless she gives another
guaranty or security equally satisfactory.
When debtor losses the right to make use of
a period
5. When debtor violates an undertaking
Example:
Art secured a loan from Arnold on condition that Art will
paint the house of Arnold. If after the proceeds of the loan
was given to Art, he did not paint the house of Arnold, Art
loses his right to make use of the period.
6. When the debtor attempts to abscond.
Abscond means to depart or escape from creditors
knowledge to avoid payment of his debt. Mere attempt on
the part of debtor will entitle the creditor to demand
payment of the obligation without waiting for the period to
expire.