LAW OF OBLIGATION AND CONTRACT (PHILIPPINES FOR ACCTG.)

There are 10 incidents/circumstances to extinguish an obligation. Illustrate a transaction of EACH 10 circumstances to extinguish an obligation.

1. By payment or performance

2. By the lost of the thing due

3. By the condonation or remission

4. By the confusion or merger

5. By compensation

6. By novation

7. Annulment

8. Rescission

9. Fulfillment of resolutory condition

10. Prescription

Please don' cop-paste, use your own words and also use your simple english, be direct to the point also