Extinguishment of Obligations (Continuation)
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Questions and Answers

What is novation?

  • The payment of a debt despite changes in the identity of the debtor
  • The creation of a new debt without involving any old obligations
  • The compensation that takes place automatically regardless of the debtor's consent
  • The modification or extinguishment of an obligation by substituting it with another (correct)
  • In novation, what is one of the functions of the process?

  • Incrimination of the debtor's actions
  • Reduction of the total amount owed
  • Extinction of the old obligation and creation of a new one (correct)
  • Transfer of the creditor's rights to a third party
  • Which of the following is a requisite for novation to exist?

  • Agreement of only one party to the new obligation
  • Completion of the old obligation without any modifications
  • Intent to maintain the old obligation unchanged
  • Substantial difference between the old and new obligations leading to the extinction of the former (correct)
  • How is the test of incompatibility used in relation to novation?

    <p>To identify if the two obligations can coexist separately without conflict</p> Signup and view all the answers

    What role does the consent of the creditor play in changing the identity of the debtor?

    <p>The consent is essential and must be obtained</p> Signup and view all the answers

    Can novation occur if there is no substantial difference between the old and new obligations?

    <p>No, novation requires a substantial difference</p> Signup and view all the answers

    If the new debtor becomes insolvent and it was already existing and of public knowledge when the debt was delegated, what liability does the original debtor incur?

    <p>Full liability</p> Signup and view all the answers

    In the context of novation, what happens if the original obligation was void?

    <p>The novation becomes void</p> Signup and view all the answers

    How are accessory obligations affected by novation?

    <p>They are extinguished</p> Signup and view all the answers

    When there is a change in the identity of the creditor, how can it be legal?

    <p>By operation of law</p> Signup and view all the answers

    How can a change in the identity of the creditor occur under a conventional arrangement?

    <p>By agreement of all parties</p> Signup and view all the answers

    What court action applies to obligations that are void from the beginning?

    <p>Annulment</p> Signup and view all the answers

    What is the primary basis for the extinguishment of obligations?

    <p>Article 1231 of the Civil Code</p> Signup and view all the answers

    What is compensation in the context of obligations?

    <p>A situation where two persons owe each other a sum of money</p> Signup and view all the answers

    What is a requisite for compensation to take place?

    <p>Both debts must be liquidated</p> Signup and view all the answers

    Can a debtor set up compensation against a new creditor if the original creditor assigns their rights to another person?

    <p>Only if the debtor reserves their right to compensation</p> Signup and view all the answers

    What happens when two persons are creditors and debtors of each other?

    <p>They can offset their debts through compensation</p> Signup and view all the answers

    What is the effect of compensation on the debts of two persons?

    <p>Both debts are reduced by the smaller amount</p> Signup and view all the answers

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