§ 9-13-10 — How novation made

North Dakota § 9-13-10

• Jurisdiction: North Dakota
• Title 9: Contracts and Obligations
• Ch. 9-13: Release and Substitutions of Obligation

Text

Novation is made by the substitution of:
1. A new obligation between the same parties with intent to extinguish the old obligation;
2. A new debtor in the place of the old one with intent to release the latter; or
3. A new creditor in place of the old one with intent to transfer the rights of the latter to
the former.