Question

You are a practicing lawyer handling a case involving a dispute over a contract. The contract was entered into by the parties in January 2015 and is governed by a specific law in effect at that time. In March 2020, a new law was enacted which repealed the previous law that governed the contract. The new law contains different provisions and requirements.

Based on the given scenario and the principle of repeal of laws under Article 7 of the Civil Code, answer the following questions:

1. Determine the effect of the repeal of the previous law on the contract entered into by the parties in January 2015.
2. Explain the application of the new law to the contract and the rights and obligations of the parties involved.
3. Identify any exceptions or limitations to the principle of repeal of laws under Article 7 of the Civil Code.