Commentary

57 Assignment and novation

CHOSES IN ACTION vol 7
| Commentary

57 Assignment and novation

| Commentary

I: NOVATION

57 Assignment and novation

Assignment and novation are both dealings with interests under an original contract, and both involve a disturbance of rights, duties and obligations under the original contract. An assignment is a transfer of an interest under a contract for some consideration outside the contract. A novation is a substitution of a new contract for an old contract in consideration of the discharge of the old contract1.

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