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    BOOK IV CHAPTER 8

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    BOOK IV CHAPTER 8

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    Di
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    BOOK IV CHAPTER 8

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    CHAPTER 8

    Assignment of Credits and Other Incorporeal Rights

    Article 1624. An assignment of creditors and other incorporeal rights shall be perfected
    in accordance with the provisions of article 1475. (n)

    Article 1625. An assignment of a credit, right or action shall produce no effect as against
    third persons, unless it appears in a public instrument, or the instrument is recorded in
    the Registry of Property in case the assignment involves real property. (1526)

    Article 1626. The debtor who, before having knowledge of the assignment, pays his
    creditor shall be released from the obligation. (1527)

    Article 1627. The assignment of a credit includes all the accessory rights, such as a
    guaranty, mortgage, pledge or preference. (1528)

    Article 1628. The vendor in good faith shall be responsible for the existence and legality
    of the credit at the time of the sale, unless it should have been sold as doubtful; but not
    for the solvency of the debtor, unless it has been so expressly stipulated or unless the
    insolvency was prior to the sale and of common knowledge.

    Even in these cases he shall only be liable for the price received and for the expenses
    specified in No. 1 of article 1616. The vendor in bad faith shall always be answerable
    for the payment of all expenses, and for damages. (1529)

    Article 1629. In case the assignor in good faith should have made himself responsible
    for the solvency of the debtor, and the contracting parties should not have agreed upon
    the duration of the liability, it shall last for one year only, from the time of the
    assignment if the period had already expired.

    If the credit should be payable within a term or period which has not yet expired, the
    liability shall cease one year after the maturity. (1530a)

    Article 1630. One who sells an inheritance without enumerating the things of which it is
    composed, shall only be answerable for his character as an heir. (1531)

    Article 1631. One who sells for a lump sum the whole of certain rights, rents, or
    products, shall comply by answering for the legitimacy of the whole in general; but he
    shall not be obliged to warrant each of the various parts of which it may be composed,
    except in the case of eviction from the whole or the part of greater value. (1532a)

    Article 1632. Should the vendor have profited by some of the fruits or received
    anything from the inheritance sold, he shall pay the vendee thereof, if the contrary has
    not been stipulated. (1533)

    Article 1633. The vendee shall, on his part, reimburse the vendor for all that the latter
    may have paid for the debts of and charges on the estate and satisfy the credits he may
    have against the same, unless there is an agreement to the contrary. (1534) ARTICLE
    1634. When a credit or other incorporeal right in litigation is sold, the debtor shall have
    a right to extinguish it by reimbursing the assignee for the price the latter paid therefor,
    the judicial costs incurred by him, and the interest on the price from the day on which
    the same was paid.

    A credit or other incorporeal right shall be considered in litigation from the time the
    complaint concerning the same is answered. The debtor may exercise his right within
    thirty days from the date the assignee demands payment from him. (1535)

    Article 1635. From the provisions of the preceding article shall be excepted the
    assignments or sales made:

    (1) To a co-heir or co-owner of the right assigned;

    (2) To a creditor in payment of his credit;

    (3) To the possessor of a tenement or piece of land which is subject to the right in
    litigation assigned. (1536)

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