WebSep 28, 2024 · novation noun no· va· tion nō-ˈvā-shən : the substitution by mutual agreement of one obligation for another with or without a change of parties and with the intent to … WebDifferent Modes of Extinguishing an Obligation A. Those Enumerated in the Law (Art. 1231) (PRC RAP MNLF) 1.Payment or Performance 2. Remission or Condonation 3. Compensation 4. Rescission 5. Annulment 6. Prescripition 7. Merger or Confusion 8. Novation 9. Loss of the Thing Due or Impossibility of performance 1O.Fulfillment of Resolutory Condition.
NOVATION definition in the Cambridge English Dictionary
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