Page 315 - Important Provisions of The New Civil Code

PAYMENT BY CESSION

Article 1255. The debtor may cede or assign his

property to his creditors in payment of his

debts. This cession, unless there is stipulation to

the contrary, shall only release the debtor from

responsibility for the net proceeds of the thing

assigned. The agreements which, on the effect

of the cession, are made between the debtor

and his creditors shall be governed by special

laws. (1175a