This case has been cited 1 times or more.
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2015-01-14 |
LEONEN, J. |
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| In Arco Pulp and Paper Co. v. Lim,[168] this court discussed the concept of novation: Novation extinguishes an obligation between two parties when there is a substitution of objects or debtors or when there is subrogation of the creditor. It occurs only when the new contract declares so "in unequivocal terms" or that "the old and the new obligations be on every point incompatible with each other." | |||||