This case has been cited 1 times or more.
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2015-12-09 |
BERSAMIN, J. |
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| To be clear, contractual obligations, unlike contractual rights or benefits, are generally not assignable. But there are recognized means by which obligations may be transferred, such as by sub-contract and novation. In this case, the substitution of the petitioner in the place of Amethyst did not result in the novation of the Deed of Sale. To start with, it does not appear from the records that the consent of Ortigas to the substitution had been obtained despite its essentiality to the novation. Secondly, the petitioner did not expressly assume Amethyst's obligations under the Deed of Sale, whether through the Deed of Assignment in Liquidation or another document. And, thirdly, the consent of the new obligor (i.e., the petitioner), which was as essential to the novation as that of the obligee (i.e., Ortigas), was not obtained.[50] | |||||