Explanation of Article 229
This article addresses the statement of "extinctive prescription," which is the lapse of the right to claim a debt due to the passage of time. The article stipulates that extinctive prescription leads to the expiration of the obligation, meaning that the right to claim a debt lapses after the period specified by the system. For example, if the period specified by the system for claiming a debt passes, the right to claim lapses, and the obligation expires.
It is worth noting that extinctive prescription differs from acquisitive prescription in that the former extinguishes the right, while the latter acquires the right.
This article is considered one of the most important articles related to extinctive prescription, as it clarifies the impact of extinctive prescription on the obligation.
Related To
Article 229
If a creditor releases a solidary debtor, whether from the debt or from solidary liability, the other debtors shall, in case there is an insolvent debtor among them, have the right of recourse against such debtor to the extent of his share in the debt of the insolvent debtor. However, if the creditor releases such debtor from all liability related to the debt, the creditor shall bear the debtor’s share in the debt of the insolvent debtor.