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Simple English definitions for legal terms

objective novation

Read a random definition: super jure naturae alendi liberos

A quick definition of objective novation:

Novation is when you replace an old obligation with a new one. This can happen in three ways: by creating a new obligation between the same parties, by replacing the debtor, or by replacing the creditor. Novation discharges the old obligation and creates a new one. It requires the consent of all parties involved. Objective novation is when a new obligation replaces an old one, while subjective novation is when a new obligor replaces a previous one who has been discharged.

A more thorough explanation:

Objective novation is a legal term that refers to the substitution of a new obligation for an old one. This can happen in a few different ways:

  • Replacing an existing obligation with a new one
  • Replacing an original party with a new party
  • Creating a new obligation between the same parties

For example, let's say that Person A owes Person B $100. Person C also owes Person B $100. If Person B agrees to accept Person C as a debtor in place of Person A, and if Person C agrees to accept Person B as their creditor in place of Person A, this would be an example of objective novation. The old obligation between Person A and Person B is replaced with a new obligation between Person B and Person C.

Another example of objective novation might be if a company takes over another company and assumes their debts and obligations. The old obligations are replaced with new ones under the new ownership.

Overall, objective novation is a way to transfer obligations from one party to another, with the consent of all parties involved.

objective method | objective standard

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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
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the devil
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yo splitterus are you in school already
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it says ur c/o 2027
JumpySubsequentDolphin
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@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
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JumpySubsequentDolphin
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JumpySubsequentDolphin
21:35
he has since moved
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
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JumpySubsequentDolphin
22:39
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JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
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