The parties may freely agree to extinguish any mutual obligations, present or future, by way of compensation; such compensation shall take effect on the date of their agreement or, in the case of future obligations, on the date of their co-existence.
Confusion results when the qualities of creditor and debtor of the same obligation are combined in the same person. It extinguishes the claim and its accessories, subject to rights acquired by or against third parties.
Where there is joint and several liability between several debtors or between several creditors, and the confusion concerns only one of them, extinction takes place, with regard to the others, only for his share. Where the confusion concerns a guaranteed obligation, the guarantor, even joint and several, is discharged. Where the confusion concerns the obligation of one of the sureties, the principal debtor is not discharged. The other joint and…
Debt forgiveness is the contract by which the creditor releases the debtor from his obligation.
A remission of debt granted to one of the joint and several debtors discharges the others to the extent of its share. A remission of debt made by only one of the joint and several creditors discharges the debtor only in respect of that creditor’s share.
A remission of debt granted to the principal debtor discharges the sureties, even joint and several. A remission granted to one of the joint and several sureties does not discharge the principal debtor, but discharges the others to the extent of its share. What the creditor has received from a surety for the discharge of his surety bond must be set off against the debt and discharge the principal debtor…
The impossibility of performing the service discharges the debtor to the extent of such impossibility if it is due to force majeure and is definitive, unless the debtor has agreed to take responsibility for it or has been given prior notice.
Where the impossibility of performance results from the loss of the thing due, the debtor put on notice is nevertheless discharged if he proves that the loss would have occurred in the same way if the obligation had been performed. He is, however, bound to assign to his creditor the rights and actions attached to the thing.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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