Author(s)

Mohan Tang ¹

Affiliation(s)

¹ Xinjiang University of Finance & Economics, Urumqi, Xinjiang, China

Corresponding Author

Mohan Tang

ABSTRACT

Post-termination debt settlement through asset substitution, as a common type of dispute in China's civil enforcement and debt clearance practices, requires a review of the legal evolution of its rules. The core controversies revolve around the nature of the agreement, the relationship between old and new debts, and the allocation of selection rights. Research indicates that post-termination debt settlement constitutes a consensual contract; during the debt performance period, old and new debts coexist, necessitating the "coexistence theory" as the principled interpretation of the old-new debt relationship. Debtors generally lack selection rights, while creditors must first demand performance of the new debt. Selection rights may only be exercised when the debtor fails to perform despite timely notice. Creditors' selection rights are subject to reasonable time limits and the principle of good faith, along with constraints such as already accepted performance and the impossibility of fulfilling the subject matter.

KEYWORDS

Post-event debt repayment by delivery of goods; consensual contract; new debt settlement; concurrent obligations; option

CITE THIS PAPER

Mohan Tang. Research on the Relationship between New and Old Debts and the Right of Choice in Post-Settlement Debt Settlement with Property. Science of Law Journal (2026). Vol. 5, No.1, 116-125. DOI: http://dx.doi.org/DOI: 10.23977/law.2026.050117.

REFERENCES

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[3] Wei Si. Thoughts on Several Difficult Issues in the Adjudication of Disputes over Debt Repayment with Property after the Maturity of Debt Repayment Period [J]. Application of Law, 2017 (17): 79-84.
[4] Yong Gao, Yaoming Wang, Donge Zang. Interpretation of the Agreement of Redemption of Property for Debt in the Later Period: Centered on Article 27 of the Interpretation of the General Principles of the Civil Code Contract [J]. Journal of Daqing Normal University, 2025, 45 (2): 60-68.
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