20-7-6. Novation by substitution of obligation. Novation is made by the substitution of a new obligation between the same parties, with intent to extinguish the old obligation.
Source: CivC 1877, § 864, subdiv 1; CL 1887, § 3488, subdiv 1; RCivC 1903, § 1182, subdiv 1; RC 1919, § 789 (1); SDC 1939, § 47.0238 (1).
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