PART I.

OBLIGATIONS IN GENERAL.

TITLE I. DEFINITION OF OBLIGATIONS.
II. INTERPRETATION OF OBLIGATIONS
III. IRANSFER OF OBLIGATIONS.
IV. EXTINCTION OF OBLIGATIONS.

TITLE I.

DEFINITION OF OBLIGATIONS.

SECTION 1418. Obligation, what.

1419. How created.

what.

SEC. 1418. An obligation is a legal duty, by which a obligation, person is bound to do or not to do a certain thing.

CHAPTER I. GENERAL RULES OF INTERPRETATION.
II. JOINT OR SEVERAL OBLIGATIONS.

III. CONDITIONAL OBLIGATIONS.
IV. ALTERNATIVE OBLIGATIONS.

General

rules.

CHAPTER I.

GENERAL RULES OF INTERPRETATION.

SECTION 1423. General rules.

SEC. 1423. The rules which govern the interpretation of contracts are prescribed by Part II of this Division. Other obligations are interpreted by the same rules by which statutes of a similar nature are interpreted.

Obligations may be divided into three classes, arising respectively out of contract, common law or statute. Those which are imposed by the common law explain themselves, their interpretation being a part of their essential nature. Contracts are interpreted by rules which differ materially from the rules governing the interpretation of statutes, and the two sets of rules, therefore, cannot well be united in one chapter.

N. Y. C. C., Sec. 672.

Obligations, joint or sev. eral, etc.

When joint.

Contribution between

CHAPTER II.

JOINT OR SEVERAL OBLIGATIONS.

SECTION 1427. Obligations, joint or several, etc.
1428. When joint.

1429. Contribution between joint parties.

SEC. 1427. An obligation imposed upon several persons, or a right created in favor of several persons, may be

1. Joint.

2. Several; or,

3. Joint and several.

N. Y. C. C., Sec. 673.

SEC. 1428. An obligation imposed upon several persons, or a right created in favor of several persons, is presumed to be joint, and not several, except in the special cases mentioned in the Title on the Interpretation of Contracts. This presumption, in the case of a right, can be overcome only by express words to the contrary.

N. Y. C. C., Sec. 674.

SEC. 1429. A party to a joint or joint and several oblijoint parties. gation, who satisfies more than his share of the claim against all, may require a proportionate contribution from all the parties joined with him.

The three following sections should be inserted in the Code
of Civil Procedure:

"SEC. -
A joint obligation cannot be enforced at any
time against any of the parties jointly liable, unless it is at
the same time, and by the same proceeding, enforced against
all.

"SEC. -. A joint and several obligation cannot be en-
forced by one proceeding against more than one of the
promisers, unless it is by the same proceeding enforced
against all. But it may be enforced against each of them
successively, until satisfied by one of them.

"SEC. A joint and several right can be enforced only once, and either by one party only, or by all."

N. Y. C. C., Sec. 675.

CHAPTER III.

CONDITIONAL OBLIGATIONS.

SECTION 1434. Obligation, when conditional.

1435. Conditions, kinds of.

1436. Conditions precedent.

1437. Conditions concurrent.

1438. Condition subsequent.

1439. Performance, etc., of conditions, when essential.

1440. When performance, etc., excused.

1441. Impossible or unlawful conditions void.

1442. Conditions involving forfeiture, how construed.

SEC. 1434. An obligation is conditional, when the rights obligation,

or duties of any party thereto depend upon the occurrence of an uncertain event.

when conditional.

N. Y. C. C., Sec. 676.

SEC. 1435. Conditions may be precedent, concurrent Conditions, or subsequent.

N. Y. C. C., Sec. 677.

kinds of.

precedent.

SEC. 1436. A condition precedent is one which is to be conditions performed before some right dependent thereon accrues, or some act dependent thereon is performed.

N. Y. C. C., Sec. 678.

concurrent.

SEC. 1437. Conditions concurrent are those which are Conditions mutually dependent, and are to be performed at the same time.

N. Y. C. C., Sec. 679.

SEC. 1438. A condition subsequent is one referring to Condition a future event, upon the happening of which the obliga

subsequent.

Performance, etc., of condi.

tions, when essential.

When performance,

tion becomes no longer binding upon the other party, if he chooses to avail himself of the condition.

N. Y. C. C., Sec. 680.

SEC. 1439. Before any party to an obligation can require another party to perform any act under it, he must fulfil all conditions precedent thereto imposed upon himself; and must be able, and offer, to fulfil all conditions concurrent, so imposed upon him, on the like fulfilment by the other party, except as provided by the next scction.

N. Y. C. C., Sec. 681.

SEC. 1440. If a party to an obligation gives notice to etc.,excused. another, before the latter is in default, that he will not perform the same upon his part, and does not retract such notice before the time at which performance upon his part is due, such other party is entitled to enforce the obligation without previously performing or offering to perform any conditions upon his part in favor of the former party.

Impossible

or unlawful conditions void.

Conditions involving forfeiture, how con

strued.

N. Y. C. C., Sec. 682.

SEC. 1441. A condition in a contract, the fulfilment of which is impossible or unlawful, within the meaning of the article on the Object of Contracts, or which is repug nant to the nature of the interest created by the contract, is void.

N. Y. C. C., Sec. 683.

SEC. 1442 A condition involving a forfeiture must be strictly interpreted against the party for whose benefit it is created.

N. Y. C. C., Sec. 684.

Who has the

right of selection.

CHAPTER IV.

ALTERNATIVE OBLIGATIONS.

SECTION 1448. Who has the right of selection.
1449. Right of selection, how lost.

1450. Alternatives indivisible.

1451. Nullity of one or more of alternative obligations.

SEC. 1448

If an obligation requires the performance of one of two acts, in the alternative, the party required

to perform has the right of selection, unless it is otherwise provided by the terms of the obligation.

N. Y. C. C., Sec. 685.

SEC 1449. If the party having the right of selection between alternative acts does not give notice of his selection to the other party within the time, if any, fixed by the obligation for that purpose, or, if none is so fixed, before the time at which the obligation ought to be performed, the right of selection passes to the other party.

N. Y. C. C., Sec. 686.

SEC. 1450. The party having the right of selection between alternative acts must select one of them in its entirety, and cannot select part of one and part of another without the consent of the other party.

N. Y. C. C., Sec. 687.

Right of how lost.

selection,

Alternatives indivisible.

one or more of alternative obliga

SEC. 1451. If one of the alternative acts required by Nuliity of an obligation is such as the law will not enforce, or becomes unlawful, or impossible of performance, the obligations. tion is to be interpreted as though the other stood alone.

N. Y. C. C., Sec. 688.

TITLE III.

TRANSFER OF OBLIGATIONS.

SECTION 1457. Burden of obligation, not transferable.

1458. Rights arising out of obligation, transferable.

1459. Non-negotiable instruments may be transferred.

1460. Covenants running with land, what.

1461. What covenants run with land.

1462. Same.

1463. Same.

1464. What covenants run with land when assigns are named.

1465. Who are bound by covenants.

1466. Who are not.

1467. Apportionment of covenants.

SEC. 1457. The burden of an obligation may be trans. ferred, with the consent of the party entitled to its benefit, but not otherwise, except as provided by Sec. 1466.

This is as true of covenants running with the land as of any other obligations. The original covenantor remains