Civil Code Article 712June 19, 2019

If a security payable by an assigned person is made by the assignor for the performance of a debt due to the payee, the debt is extinguished when prestation is made by the assignee. "In the case specified in the preceding paragraph, the creditor who has accepted an order of payment shall not claim payment of the original debt from the assignor, except he has been unable to procure prestation of the order by the assignee within the time specified in the securities, or, if no time is specified, within a reasonable time. "A creditor who is not willing to accept a security payable by an assigned person from his debtor shall notify the latter of his refusal without delay.

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