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In the said facts, it reveals that the plaintiffs transferred Phil. C. Whitaker and Venancio
Concepcion only half of the railroad line. As stated, since there was no novation of the contract
between the plaintiffs and the defendant as to the latter's obligation to pay the former one-half of
of the cost of the said railroad line, and since the plaintiffs did not include in the sale, evidenced
by Exhibit 5, the credit they had against the defendant, the allegation that the defendant's
obligation became extinguished by the merger of the rights of creditor and debtor by the
purchase of Messrs. Phil. C. Whitaker and Venancio Concepcion is wholly untenable.