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Showing 2721–2730 of 56536 articles for “Art. II & IV”
Where the delegating party is a creditor of the delegatee, its claim is extinguished only by the performance of the delegatee's obligation to the delegatee and in due proportion.
…egation. The same applies to the mere indication made by the creditor of a person designated to receive payment on his behalf.
Where the delegator is a debtor of the delegatee and the delegatee's intention to discharge the delegator is expressly stated in the deed, the delegation constitutes novation. However, the delegator r…
Novation takes place only if both the old obligation and the new obligation are valid, unless its declared object is to substitute a valid undertaking for an undertaking which is vitiated by a defect.
Novation agreed between the creditor and one of the joint and several debtors discharges the others. A novation agreed between the creditor and a guarantor does not release the principal debtor. It re…
…is indebted to the delegatee but the delegatee has not discharged him of his debt, the delegation gives the delegatee a second debtor. Payment made by one of the two debtors discharges the other, to…
The extinction of the old obligation extends to all its accessories. As an exception, the original collateral may be reserved to secure the new obligation with the consent of the third-party guarantor…
Novation is a contract whose purpose is to substitute for an obligation, which it extinguishes, a new obligation which it creates. It can take place by substitution of obligation between the same part…
Novation cannot be presumed; the intention to effect it must be clear from the instrument.
Delegation is a transaction by which one person, the delegator, obtains from another, the delegate, an obligation to a third, the delegatee, who accepts it as a debtor. The delegate may not, unless ot…
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