Since contractual obligations and liabilities are a question of municipal law, and since international law cannot of itself have direct effect in municipal law1, state succession cannot of itself extinguish contractual obligations assumed and liabilities incurred in respect of the territory concerned by the government of a continuing predecessor state or render the government of a successor state bound by or liable for contractual obligations assumed in respect of the territory concerned by the government of a predecessor state, whether continuing or extinct. Nor does customary international law otherwise oblige a successor state to honour any contractual obligations assumed
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