Explanation of Article 275
This article addresses the statement of "Effects of Assignment of Right," which are: the consequences that result from the assignment of the right. The article stipulates that the effects of the assignment of the right include:
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First: "Transfer of the right to the new creditor," which means: the new creditor becomes the rightful owner and has the right to claim the debt from the debtor.
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Second: "The debtor remains liable for the debt," which means: the debtor remains responsible for the debt and is not discharged from it except by fulfilling it to the new creditor.
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Third: "Transfer of guarantees and accessories," which means: the guarantees and accessories provided for the debt are transferred to the new creditor, such as: mortgage, surety, interest, and the like.
It should be noted that this provision applies to all types of rights, whether they are contracts, acknowledgments, discharges, or otherwise.
This article is considered one of the most important articles related to the effects of the assignment of right, and it clarifies the impact of the assignment of right on the obligation.
Related To
Article 275
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Performance shall be made promptly upon the obligation becoming due, unless an agreement or a legal provision stipulates otherwise.
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Absent a specific provision, the court may, in certain circumstances, grant the debtor a grace period to perform his obligation if his circumstances so require and such deferment does not cause severe harm to the creditor.