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Question
Mira owes 150,000 to Theo. Theo sells the credit to Mira, so Mira becomes both debtor and creditor of the same obligation. (a) Name the doctrine that governs this situation. (b) Has confusion occurred? Explain the elements and the outcome. (c) If the loan is secured by a mortgage on Mira's land, what happens to that mortgage when confusion extinguishes the debt?