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What is Novation and Option Contracts in Guatemala about?

The document summarizes the main aspects of novation and the option contract in Guatemalan notarial law. It briefly explains that novation is a way to extinguish obligations by replacing them with others and cites some articles from the Civil Code related to this topic. It also defines the option contract as one that grants a party the right to acquire an asset under certain conditions and timeframe, and includes details about its characteristics and types. Finally, it includes minutes.

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