Novation means revocation or replacement of old contract for creation new contract with consent of parties

Novation means form a new contact for replacing other one

the act of replacing a legitimate existing contract with a new contract, where the transfer is mutually agreed by both parties concerned.....in bookish language

Novation is the process of replacing an existing contract with a new one that both parties agree to

CA Foundation doubt

What is novation?

Asked by Sarvani26 Apr 2024371 views

4 answers

veera · 27 Apr 2024
Novation means revocation or replacement of old contract for creation new contract with consent of parties
NILESH · 26 Apr 2024
Novation means form a new contact for replacing other one
Sargun · 26 Apr 2024
the act of replacing a legitimate existing contract with a new contract, where the transfer is mutually agreed by both parties concerned.....in bookish language
Sargun · 26 Apr 2024
Novation is the process of replacing an existing contract with a new one that both parties agree to

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