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In payment of his loan obligation, Peter issued a check dated 12 September 2021 with an amount of P 50,000.00 in favor of Paul. Peter delivered the check to Paul on November 5, 2021, and on November 10, 2021 Paul successfully encashed the check. Subsequently, Paul issued a receipt in favor of Peter on November 12, 2021.When is the obligation of Peter extinguished?

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