Selected Cases by Article & Issues
(1) The obligee may assert against the new obligor all its rights to payment or other performance under the contract in respect of the obligation transferred.
(2) If the original obligor is discharged under Article 9.2.5(1), a security granted by any person other than the new obligor for the performance of the obligation is discharged, unless that other person agrees that it should continue to be available to the obligee.
(3) Discharge of the original obligor also extends to any security of the original obligor given to the obligee for the performance of the obligation, unless the security is over an asset which is transferred as part of a transaction between the original obligor and the new obligor.
|1||Scope of transfer|
|1.1||All rights related to obligation transferred|
|1.2.1||Survives if original obligor remains bound|
|1.2.2||Ceases if original obligor discharged|
|18.104.22.168||May exceptionally survive if so agreed by party granting it|
|1.3||Securities over assets|
|1.3.1||Survive if original obligor remains bound|
|1.3.2||Cease if original obligor discharged|
|22.214.171.124||May exceptionally survive if transferred as part of transaction between original obligor and new obligor|