Art. 1879. Extinguishment of existing obligation
SECTION 3. NOVATION Art. 1879. Extinguishment of existing obligation Novation is the extinguishment of an existing obligation by the substitution of a new one. Acts 1984, No. 331, §1, eff. Jan. 1, 1985.
Art. 1880. Novation not presumed
Art. 1880. Novation not presumed The intention to extinguish the original obligation must be clear and unequivocal. Novation may not be presumed. Acts 1984, No. 331, §1, eff. Jan. 1, 1985.
Art. 1881. Objective novation
Art. 1881. Objective novation Novation takes place when, by agreement of the parties, a new performance is substituted for that previously owed, or a new cause is substituted for that of the original obligation. If any substantial part of the original performance is still owed, there is no novation. Novation takes place also when the […]
Art. 1882. Subjective novation
Art. 1882. Subjective novation Novation takes place when a new obligor is substituted for a prior obligor who is discharged by the obligee. In that case, the novation is accomplished even without the consent of the prior obligor, unless he had an interest in performing the obligation himself. Acts 1984, No. 331, §1, eff. Jan. […]
Art. 1883. No effect when obligation is invalid
Art. 1883. No effect when obligation is invalid Novation has no effect when the obligation it purports to extinguish does not exist or is absolutely null. If the obligation is only relatively null, the novation is valid, provided the obligor of the new one knew of the defect of the extinguished obligation. Acts 1984, No. […]
Art. 1884. Security for extinguished obligation
Art. 1884. Security for extinguished obligation Security given for the performance of the extinguished obligation may not be transferred to the new obligation without agreement of the parties who gave the security. Acts 1984, No. 331, §1, eff. Jan. 1, 1985.
Art. 1885. Novation of solidary obligation
Art. 1885. Novation of solidary obligation A novation made by the obligee and one of the obligors of a solidary obligation releases the other solidary obligors. In that case, the security given for the performance of the extinguished obligation may be retained by the obligee only on property of that obligor with whom the novation […]
Art. 1886. Delegation of performance
Art. 1886. Delegation of performance A delegation of performance by an obligor to a third person is effective when that person binds himself to perform. A delegation effects a novation only when the obligee expressly discharges the original obligor. Acts 1984, No. 331, §1, eff. Jan. 1, 1985.
Art. 1887. Discharge of any prior obligor does not affect security
Art. 1887. Discharge of any prior obligor does not affect security If the new obligor has assumed the obligation and acquired the thing given as security, the discharge of any prior obligor by the obligee does not affect the security or its rank. Acts 1984, No. 331, §1, eff. Jan. 1, 1985.