Article 1295
ELI5— what this means for you
The insolvency of the new debtor, who has been proposed by the original debtor and accepted by the creditor, shall not revive the action of the latter against the original debtor, except when said insolvency was already...
Official text — RA 386
The insolvency of the new debtor, who has been proposed by the original debtor and accepted by the creditor, shall not revive the action of the latter against the original obligor, except when said insolvency was already existing and of public knowledge, or known to the debtor, when the delegated his debt. (1206a)
Source: lawphil.net (RA 386 as amended)
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