Exercises · Q8
Q.Distinguish between Novation and Alteration of a contract.
Tamil Nadu DgeTextbookSubjectiveImportance★★★★★
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Start your 14-day free trial to unlock the full solution →| Basis | Novation | Alteration |
|---|---|---|
| What changes | The entire contract is replaced by a new one | Only some terms of the same contract are changed |
| Parties | May involve a new party altogether | Parties generally remain the same |
| Effect on original contract | Original contract is extinguished | Original contract continues to exist, in its altered form |
| Consent needed | Consent of all parties, including any new party | Mutual consent of the existing parties |
| Example | A owes B ₹10,000; it is agreed instead that C will pay B ₹10,000, discharging A | A and B agree to change the delivery date of goods under their existing sale contract |
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