Obligations And Contracts (Oblicon) Practice Exam

What is condonation/remission?

Gratuitous abandonment of the right by the creditor Partial payment of the debt by the debtor Court-ordered forgiveness of the debt A lending of money at a lower interest rate

Correct Answer:

Gratuitous abandonment of the right by the creditor

Explanation:

Condonation or remission is the creditor’s gratuitous forgiveness of the debt, releasing the debtor from payment and extinguishing the obligation. It’s an act of liberality by the creditor—no payment or other consideration is required—and it can apply to the whole debt or to part of it. This is why it’s the best choice: it centers on the creditor voluntarily relinquishing the right to demand payment. It is not about a partial payment, a court order, or a new loan at a lower rate.

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