Novation: Difference between revisions
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imported>Doug Williamson m (Spacing 21/8/13) |
imported>Doug Williamson m (Category added 8/10/13) |
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== See also == | == See also == | ||
* [[Substitution]] | * [[Substitution]] | ||
[[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.
