Legal Mechanisms for Modifying and Terminating Contractual Obligations
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Modification and Termination of Obligations
Obligations can undergo two types of modifications:
1. Subjective Change
This occurs when the legal relationship changes the debtor or the creditor.
- Changing the Debtor: Fulfillment will be carried out by someone other than the original debtor, provided the creditor consents.
- Changing the Creditor: This can occur without the consent of the debtor.
2. Objective Modification
This involves changes to the situational elements of the obligation, such as a change in the location or time of performance.
Assignment of Commercial Contracts
In commercial practice, the Civil Code (CC) does not explicitly regulate this issue. However, according to jurisprudence, assignment is admissible under Section 1.255.