Debt Update System

Originated from Roman Law , novation of obligation is one cause of termination or obligation in the traditional civil law codes . Novation of obligation not only conform to the principle of freedom of contract and modern efficiency , but also has great significance in consummating the following institution of civil law : transfer of obligation , guaranty of debt, prescription and termination of obligation . Especially when facing with the variation of obligation, what effects will occur on guaranty duty , novation of obligation may take a great function . Just because of the unique value and it's adjusting range , novation of obligation can not and never be substituted by transferring of claims , undertaking of obligation and changing of obligation . Therefore , novation of obligation will still has it's own regulating range , even in the modern legal system . It comprise existing of old obligation , occurrence of new obligation , fundamental difference between the old and the new obligation and the intent of parties . The civil law codes of all countries except for Germany have enacted it in detail , as well as the common law legal system . The civil law code of our country in the future should enact and perfect it, based on the achievement the civil law system and common law legal system had gained .