Art. 1113. Every obligation, the fulfillment of which should not depend upon a future or uncertain event or upon a past event, unknown to the parties in interest, shall be immediately demandable.

Every obligation, containing a condition subsequent, shall also be demandable without prejudice to the effect of the performance.

Art. 1114. In conditional obligations, the acquisition of rights, as well as the extinction or loss of those already acquired, shall depend upon the event constituting the condition.

Art. 1115. If the fulfillment of the condition should depend upon the exclusive will of the debtor, the conditional obligation shall be void. If it should depend upon chance or upon the will of a third person, the obligation shall produce all its effects in accordance with the provisions of this code.

Art. 1116. Impossible conditions, those contrary to morality, and those forbidden by law, shall annul the obligation depending upon them.

The condition of not doing a thing which is impossible is considered as not imposed.

Art. 1117. The condition that a certain event shall happen within a fixed period, shall extinguish the obligation from the time the period lapses or when there is no doubt that the event will not take place.

Art. 1118. The condition that a certain event shall not occur within a fixed period shall render the obligation binding from the time the period fixed elapses, or when it becomes evident that such event can not occur.

Should there not be a fixed period, the condition shall be considered as fulfilled within the time which would probably have been fixed, in view of the nature of the obligation.

Art. 1119. The condition shall be considered as fulfilled when the obligated party should voluntarily prevent its fulfillment.

Art. 1120. The effects of a conditional obligation to give after the condition has been fulfilled shall retroact to the day on which it was constituted. Nevertheless, if the obligation should impose mutual prestations on the parties concerned, the fruits and interest for the time during which the condition has been pending shall be understood as compensating each other. Should the obligation be unilateral, the debtor shall become the owner of the fruits and interest collected, unless by reason of the nature and circumstances of the obligation it must be inferred that the will of the person constituting it was otherwise.

In the obligations of doing or of not doing, the courts shall determine in each case the retroactive effect of the condition fulfilled.

Art. 1121. The creditor may, before fulfilling the conditions, enforce the actions which may be proper for the preservation of his right.

The debtor may recover what he may have paid during the same period.

Art. 1122. Should the conditions be established for the purpose of suspending the efficiency of the obligation to give, the following rules shall be observed in case the thing should improve, or be lost or impaired while the condition is pending:

1. If the thing was lost without fault of the debtor, the obligation shall be extinguished.

2. If the thing was lost by the fault of the debtor, he is obliged to make good the losses and damages.

It is understood the thing is lost when it perishes, becomes unsalable, or disappears in such a manner that its existence is unknown, or it is not possible to recover it.

3. If the thing deteriorates without fault of the debtor, the deterioration shall be borne by the creditor.

4. If the thing should deteriorate by the fault of the debtor, the creditor may choose between the rescission of the obligation and its fulfillment, with indemnity for damages in both cases.

5. If the thing should improve by its nature or by time, the improvements accrue to the benefit of the creditor.

6. If it should improve at the expense of the debtor, the latter shall have no more rights than those granted a usufructuary.

Art. 1123. If the object of the conditions should be to rescind the obligation to give, after they are performed, the parties in interest shall mutually return all they may have received.

In cases of loss, deterioration or improvement of the thing, the provisions relating to debtors, contained in the preceding article, shall be applied to the person obliged to make restitution.

With regard to the obligations of doing or not doing, the provisions of the second paragraph of article 1120 shall be observed in so far as the effects of the rescission are concerned.

Art. 1124. The right to rescind the obligations is considered as implied in mutual ones, in case one of the obligated persons does not comply with what is incumbent upon him.

The person prejudiced may choose between exacting the fulfillment of the obligation or its rescission, with indemnity for damages and payment of interest in either case. He may also demand the rescission, even after having requested its fulfillment, should the latter appear impossible.

The court shall order the rescission demanded, unless there are sufficient causes authorizing it to fix a period.

This is understood without prejudice to the rights of third acquirers, in accordance with articles 1295 and 1298, and with the provisions of the mortgage law.