- Statute
- Civil Code
- Article
- Art. 1629
- Topic
- Assignment of Credits and Other Incorporeal Rights
- Book
- BOOK IV Obligations and Contracts
- Title
- TITLE VI SALES
- Chapter
- CHAPTER 8 Assignment of Credits and Other Incorporeal Rights
- Formerly
- Art. 1530a of the old Civil Code
- Year
- 1949
The provision
In case the assignor in good faith should have made himself responsible for the solvency of the debtor, and the contracting parties should not have agreed upon the duration of the liability, it shall last for one year only, from the time of the assignment if the period had already expired. If the credit should be payable within a term or period which has not yet expired, the liability shall cease one year after the maturity. (1530a)
Cases applying this article
- Atok Finance Corporation v. Court of Appeals G.R. No. 80078
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