Which of the following is an obligation with a period for the benefit of the debtor? *

(A) payable if I like

(B) payable when you like

(C) payable on or before December 31, 2020

(D) payable on December 31, 2020

(E) payable when able.

Which of the following is an obligation with a period for the benefit of the debtor? *

(A) Payable if I like

(B) Payable when you like

(C) Payable on or before December 31, 2020

(D) Payable on December 31, 2020

(E) Payable when able.

Question:

When we talk of an obligation period we mean that it is an obligation wherein its performance is subject to a period or a term. It will be demandable when that period has expired. Such like period is day certain which will have to come though it will not be known when.  Thus payable on or before December means that it will be demanded when it is on 31, 2020 meaning this is the expiry period. Additionally, payable on means that the day is not certain but it will be paid before 3, 2020 which is the expiry period.