N.D. Cent. Code § 9-13-10

Current through 2024 Legislative Session

Section 9-13-10 - How novation made

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.

N.D.C.C. § 9-13-10