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accollo liberatorio

English translation: novation

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:accollo liberatorio
English translation:novation
Entered by: Sara Castagnoli
Options:
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17:18 Dec 21, 2005
Italian to English translations [PRO]
Law/Patents - Law (general)
Italian term or phrase: accollo liberatorio
unfortunately I have no context - it's just a term in a list.
If "accollo" = "debt assumption/assumption of debt", this should be a kind of contract in which the creditor declares his will to free the original debtor from any obligation and to held only the third person assuming the debt liable to satisfy the obligation
Sara Castagnoli
Local time: 12:47
novation
Explanation:
"Assumption of liability is not novation, unless there concur the consent of the one party to accept the substitute in lieu of the other party to the original contract, and a discharge of the latter. There must be consent by the creditor to take the new debtor as his sole security and to extinguish the claim against the former. Such consent is not to be implied merely from the performance of the contract by the substitute, for that might well consist with the continued liability of the original . . . ."

In other words, assumption is to be distinguished from substitution or novation, which imply release of the original debtor.
Selected response from:

Michael Pawlik
Italy
Local time: 12:47
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +2novation
Michael Pawlik
4releasing assumption
Angie Garbarino
3Discharge of contractual debts
Ivana UK


  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
releasing assumption


Explanation:
............

Angie Garbarino
Local time: 12:47
Specializes in field
Native speaker of: Native in FrenchFrench, Native in ItalianItalian
PRO pts in category: 132
1 corroborated select project
in this pair and field What is ProZ.com Project History(SM)?
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34 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
novation


Explanation:
"Assumption of liability is not novation, unless there concur the consent of the one party to accept the substitute in lieu of the other party to the original contract, and a discharge of the latter. There must be consent by the creditor to take the new debtor as his sole security and to extinguish the claim against the former. Such consent is not to be implied merely from the performance of the contract by the substitute, for that might well consist with the continued liability of the original . . . ."

In other words, assumption is to be distinguished from substitution or novation, which imply release of the original debtor.


    Reference: http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?court=6th&n...
Michael Pawlik
Italy
Local time: 12:47
Specializes in field
Native speaker of: English
PRO pts in category: 158

Peer comments on this answer (and responses from the answerer)
agree  xxxAdrian MM.: cf. delegazione and www.proz.com/kudoz/1154022
4 hrs

agree  Cristina Chaplin
3 days14 hrs
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Discharge of contractual debts


Explanation:
Several options:

* Discharge of contractual debts

* Discharge of indebtedness

* Debt Discharge (assumption)

Several hits for all of them



Ivana UK
United Kingdom
Local time: 11:47
Works in field
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
PRO pts in category: 191
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