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Section 6
NOVATION
Presented by:
Dela Rea, KimmiNavales, Reihnier
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Deinition o Terms
Novation ! the act of either, replacing an obligation toperform with a new obligation or replacing a party to anagreement with a new party.
Inc"rred ! To become liable or subject to through one’s ownaction.
#ne$"ivocal ! Expressed in a clear and certain way
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Article %&'%
Obli(ations may be modiied by:
)%* +han(in( their obect or -rinci-al conditions.
)&* S"bstit"tin( the -erson o the debtor.
)/* S"bro(atin( a third -erson in the ri(hts o the
creditor0 )%&1/*
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Article %&'&
In order that an obli(ation may be e2tin("ished by
another 3hich s"bstit"tes the same, it is im-erative that
it be so declared in "ne$"ivocal terms, or that the old
and the ne3 obli(ations be on every -oint incom-atible
3ith each other0 )%&14*
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Article %&'/
Novation 3hich consists in s"bstit"tin( a ne3 debtor
in the -lace o the ori(inal one, may be made even
3itho"t the 5no3led(e or a(ainst the 3ill o the latter,
b"t not 3itho"t the consent o the creditor0 Payment by
the ne3 debtor (ives him the ri(hts mentioned in articles%&/6 and %&/0 )%&17a*
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Article %&'4
I the s"bstit"tion is 3itho"t the 5no3led(e or a(ainst
the 3ill o the debtor, the ne3 debtor8s insolvency or non!
"lillment o the obli(ation shall not (ive rise to any
liability on the -art o the ori(inal debtor0
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Problems
%0 T )third -erson* tells + )creditor* that T 3ill -ay the
debt o D )debtor*0 + a(rees0 Is D released rom his
obli(ation to +9
&0 S"--ose in the above -roblem, D -ro-osed to + that T3o"ld s"bstit"te D as the ne3 debtor to 3hich +
a(reed0 Is D still liable to + in case o insolvency o
T9
*Insolvency - the state of being unable to pay the money owed, by a person or
company, on time
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Ans3er to Problem %
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Ans3er to Problem &
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