Settlements, which the debtor and his creditors may judicially agree to, with the formalities of law with regard to the reduction of the amount and extension of time, or in bankruptcy, shall be binding on all the concurrent parties and on those who, having been cited and notified in due form, should not have protested in time. The creditors who, having the right to abstain, should have duly made use of such right, are expected. The creditors included in §§ 5192, 5193, and 5194 of this title have the right to abstain.\nHistory —Civil Code, 1930, § 1817.
Puerto Rico Legal Code