Difference between revisions of "Novation"

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== See also ==
 
== See also ==
 
* [[Substitution]]
 
* [[Substitution]]
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[[Category:Regulation_and_Law]]

Revision as of 10:39, 8 October 2013

Law.

A method of loan transfer, which transfers the rights and obligations of a lender by creating in law a new ('nova') contract between the parties, on the same terms as the original agreement except that the transferee has taken the place of the transferor.


See also