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Understanding Novation in Philippine Law by Stephanie Dawn Sibi Gok-ong is a document available to read on EtoBox.

What is Understanding Novation in Philippine Law about?

The document discusses novation under Philippine law. It defines novation as the substitution or change of an obligation by another obligation that extinguishes or modifies the first obligation. There are three types of novation according to its object or purpose: real/objective, personal/subjective, and mixed. Personal/subjective novation involves either changing the debtor or subrogating a third person as the creditor. There are two kinds of personal/subjective novation: passive novation and active novati

Author

Stephanie Dawn Sibi Gok-ong

Language

EN