Text of the provision
Art. 1196. Whenever in an obligation a period is designated, it is presumed to have been established for the benefit of both the creditor and the debtor, unless from the tenor of the same or other circumstances it should appear that the period has been established in favor of one or of the other.
(1127)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
A period is presumed established for the benefit of both creditor and debtor, unless the terms or circumstances show it favors only one. This affects who may waive the term and demand or make early payment.
Related provisions
- Article 1195 — Premature Payment.
- Article 1198 — When the Debtor Loses the Benefit of the Period.
Cases citing this article
- Privatization And Management Office vs. Firestone Ceramic, Inc, G.R. No. 214741, January 22, 2024 — read the decision on LawPhil →
- Spouses Jaime and Matilde Poon vs. Prime Savings Bank represent by the Philippine Deposit Insurance Corporation as Statutory Liquidator, G.R. No. 183794, June 13, 2016 — read the decision on LawPhil →
Compiled automatically from Supreme Court decisions published on LawPhil that expressly cite this article, most frequently cited first. A listing means the decision cites the provision — it is not a statement that the case is the leading authority, and it does not show whether a ruling has since been modified or abandoned. Always read the decision itself.