(2) DBP v. Adil, GR L-48889, May 11, 1988 [Per J. Gancayco, First Division] • What have we learned from the topic? Art. 1112. Persons with capacity to alienate property may renounce prescription already obtained, but not the right to prescribe in the future. Prescription is deemed to have been tacitly renounced when the renunciation results from acts which imply the abandonment of the right acquired. Art. 165. The husband is the administrator of the conjugal partnership. As such administrator, all debts and obligations contracted by the husband for the benefit of the conjugal partnership, are chargeable to the conjugal partnership (Civil Code) ➡️ Art. 124 (Family Code) • What does the case teaches us? 1. The right to prescription may be waived or renounced. When a debt is already barred by prescription, it cannot be enforced by the creditor. But when a new contract recognizing and assuming the prescribed debt is made, it would be valid and enforceable. When a party acknowledges the correctness of a debt and promises to pay it after the same has prescribed and with full knowledge of the prescription he thereby waives the benefit of prescription. 2. Prescription extinguishes obligations, although such is not expressly considered as a mode of extinguishment under the new civil code.