Abstract

The person's intent may lead to the waiver of their accrued rights against another person in a definitive manner, whether fully or partially, and such waiver may be with or without consideration. This occurs after fulfilling the prerequisites of this act, which are as follows: the renouncer must be the rightful owner of the right being waived, possessing full legal capacity without coercion, and the other party, the renouncee, must be indebted to the renouncer, specifically identified, and legally capable of ownership. It is also required that there be a locus for the waiver, which must be known and not concealed due to gross ignorance, in violation of public order, or contrary to public morals. When these conditions are met, the waiver takes immediate effect if without consideration, unless the renouncee responds. If there is consideration involved, its effect requires the consent of the renouncee.

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The article was added to IASJ on 2025-01-30

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