Page 326 - Important Provisions of The New Civil Code

NOVATION

Article 1291. Obligations may be modified by:

(1) Changing their object or principal

conditions;

(2) Substituting the person of the debtor;

(3) Subrogating a third person in the rights

of the creditor. (1203)

Article 1292. In order that an obligation may be

extinguished by another which substitute the

same, it is imperative that it be so declared in

unequivocal terms, or that the old and the new

obligations be on every point incompatible with

each other. (1204)