Explanation of Article 271
This article addresses the statement of "effects of the discharge of obligation," which are: the consequences that result from the discharge of obligation. The article stipulates that the effects of the discharge of obligation include:
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First: "Release of the debtor," which means that the debtor becomes not responsible for the debt, and the creditor is not entitled to claim the debt again.
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Second: "Removal of guarantees," which means that the guarantees provided for the debt, such as mortgage, surety, and the like, are removed.
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Third: "Removal of interest," which means that the interest that was accruing on the debt, such as delay interest, contractual interest, and the like, is removed.
It should be noted that these effects apply to all types of obligations, whether they are contracts, declarations, discharges, or otherwise.
This article is considered one of the most important articles related to the effects of the discharge of obligation, as it clarifies the impact of the discharge of obligation on the obligation.
Related To
Article 271
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If a valid tender is made and is followed by a valid deposit, such tender shall serve as a performance of the obligation and shall produce all the effects of performance from the time the tender is made; in such case, the debtor may not rescind such performance.
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The creditor shall bear the costs of the tender and deposit.