MCO Logo
12th Aug, 2022
MCO Legals - LinkedIn

Novation of Contract

According to Black’s Law Dictionary, ‘Novation’ means “substitution of new contract between same or different parties…It requires a previous valid obligation, an agreement of all the parties to a new contract, the extinguishment of an obligation and the validity of the new one.”

Your feedback is invaluable in enhancing Knowledge Bank. Please share your thoughts here

Popular Knowledge Bank