Explanation of Article 247
This article addresses the statement of "time of fulfillment," which is: the time when the debtor must fulfill the debt. The article stipulates that the time of fulfillment is at the agreed time. For example, if the contracting parties agree that the debt should be fulfilled on a specific date, the debtor must fulfill the debt on that date.
It is worth noting that the time of fulfillment must be "known," meaning it should not be unknown or unspecified. For example, it is not permissible to agree that the debt be fulfilled "at the debtor's convenience" or "upon the creditor's request," as this is not known.
This article is considered one of the most important articles related to the time of fulfillment, as it clarifies the impact of the time of fulfillment on the obligation.
Related To
Article 247
If an attachment against a debtor is made before an assignment becomes effective against a third party, the assignment shall, with respect to the attachment creditor, be deemed a second attachment; in such case, the right shall be divided between the assignee and the attachment creditor in the same manner distribution is made among creditors.