Practice question
Which statement gives Article 1292’s standard for extinguishing an old obligation through a substitute?
- Every change in wording necessarily extinguishes the old obligation.
- The debtor’s private intention alone is sufficient.
- Only notarization can establish novation.
- Extinction must be declared unequivocally, or the old and new obligations must be incompatible on every point.
- Any additional security automatically erases the principal debt.
Legal references
- https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html — Civil Code, articles 1291–1292 and 1296–1299.
- https://lawphil.net/judjuris/juri2024/aug2024/gr_217368_2024.html — Ruby Shelter Builders and Realty Development Corporation v Tan, GR 217368, August 5 2024, main opinion: extinctive novation is not presumed.
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