Practice question
A debtor promises delivery of one specific machine and expressly assumes liability for fortuitous loss. The machine is destroyed by a genuinely fortuitous event before delay and without negligence. Does Article 1262 automatically extinguish the liability?
- Yes, every fortuitous event erases any assumed risk
- No; the stipulation assuming fortuitous risk engages the statutory exception and liability for damages remains
- Yes, because contracts cannot allocate risk
- Yes, if the machine was expensive
- Yes, because no creditor may claim damages
Legal references
- Civil Code, Article 1262: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/53360
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