Novation by substitution of obligation.

  1. Law
  2. South Dakota Codified Laws
  3. Personal Rights and Obligations
  4. Accord And Satisfaction, Novation And Release Of Obligations
  5. Novation by substitution of obligation.

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20-7-6. Novation by substitution of obligation.

Novation is made by the substitution of a new obligation between the same parties, with intent to extinguish the old obligation.

Source: CivC 1877, §864, subdiv 1; CL 1887, §3488, subdiv 1; RCivC 1903, §1182, subdiv 1; RC 1919, §789 (1); SDC 1939, §47.0238 (1).


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