- 206. Termination of obligation by merger
(1) If an obligor and an obligee are consolidated in one and the same person, the obligation terminates. If an obligor and an obligee are consolidated in an obligation but the person has legitimate interest in the continuation of the obligation, the obligation shall not terminate.
(2) If merger is partial, the obligation terminates with respect to the consolidated part.
(3) If a pledge or other real right is established with regard to a claim, the claim remains in force with regard to the pledgee or the person holding the real right regardless of merger.
(4) The provisions of this section do not apply to claims arising from securities.
Agreement on Termination of Obligation
- 207. Termination of obligation by agreement
(1) An obligation terminates if the obligee and the obligor have agreed on the termination of the obligation due to the obligee waiving the claim.
(2) The provisions concerning termination of obligations apply if the parties to an obligation have agreed or the obligee admits that the obligation no longer exists.