While the obligation is thus sharply distin guished from the right to a thing, it is never theless true that the right of a creditor, like the right of an owner, is a property right. Like any other property right, it may lie transferred or `ceded' to a purchaser; it may be pledged or hypothecated by the creditor to his creditor; it may he attached by the creditor's creditor; in ease of the bankruptcy of the creditor it passes. with his other assets, to his creditors or to those who represent and act for his credi tors; and in ease of the creditor's death it. passes with the rest of his estate to his legal or testa mentary heirs (as in English law it passes to the executors or administrators). Hence the Roman jurists, viewing, property as consisting* of 'things,' termed the obligation an 'incorporeal thing,' and English operates with the same concept ion.
Joixr OBLIGATIONS. Where there are two or more creditors, or two or more debtors, each creditor may be entitled to sue only for his share of the claim, and each dehtor may be liable only for his share of the debt. In certain eases. how
ever. any one of the creditors may be entitled to demand full performance, and any one of the debtors may be held liable for the full debt. In such cases the obligation is said to lie `solidary.' `actively' as regards the creditors, 'passively' as regards the debtors. The effect of performance to one creditor is to extinguish the right of the others, and the effect of performance by one debtor is to liberate the others. All such rules, however, apply only to the relation between the creditor or creditors, and the debtor or debtors, and do not touch the relation of the joint creditors to each other, or that of the joint debtors to each other. If the joint creditors have really (i.e. equitably) a joint interest, the credit or who has received payment must satisfy the other creditors; and if the debt was really a joint debt. the debtor who has paid is entitled to hold the other debtors to 'contribution.' As between joint wrong-doers contribution is regu larly excluded.