Substitution of Debtor in Europe

Substitution of Debtor (in European Private Law)

In this context, this may be a concept of the term: “Substitution” of a debtor is the process whereby, with the agreement of the creditor, a third party is substituted completely or incompletely for the debtor, the contract remaining in force. (III.–5:202) See also “complete substitution of debtor” and “incomplete substitution of debtor”.

Complete Substitution of Debtor (in European Private Law)

In this context, this may be a concept of the term: There is complete substitution of a debtor when a third person is substituted as debtor with the effect that the original debtor is discharged.

Incomplete Substitution of Debtor (in European Private Law)

In this context, this may be a concept of the term: There is incomplete substitution of a debtor when a third person is substituted as debtor with the effect that the original debtor is retained as a debtor in case the original debtor does not perform properly.

Substitution of Debtor

Substitution of Debtor in Europe