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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A transaction falls within a proved successor-liability exception protecting a creditor. Buyer and seller privately allocate the debt to another contracting party through a hold-harmless clause. The creditor never consents to release its rights. Under Y-I Leisure, which treatment is correct?

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The clause necessarily releases every original debtor. The clause may allocate recourse between contracting parties but cannot by itself defeat the protected nonconsenting creditor's claim. The creditor's rights vanish when parties sign an indemnity. Private allocation automatically binds every nonparty creditor.

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