Novation by substitution of creditor.

  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 creditor.

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20-7-8. Novation by substitution of creditor.

Novation is made by the substitution of a new creditor in place of the old one, with intent to transfer the rights of the latter to the former.

Source: CivC 1877, §864, subdiv 3; CL 1887, §3488, subdiv 3; RCivC 1903, §1182, subdiv 3; RC 1919, §789 (3); SDC 1939, §47.0238 (3).


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