§ 1531. — 1531. (Enacted 1872.)

California § 1531.

• Jurisdiction: California
• Code CIV: Civil Code - CIV
• Div. 3.: DIVISION 3. OBLIGATIONS
• Title: 4.
• Part 1.: TITLE 4. EXTINCTION OF OBLIGATIONS
• Ch. 5.: CHAPTER 5. Novation [1530. - [1533.]]

Text

Novation is made:
1.
By the substitution of a new obligation between the same parties, with intent to extinguish the old obligation;
2.
By the substitution of a new debtor in place of the old one, with intent to release the latter; or,
3.
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.

Legislative History

Enacted 1872.