Novation

Novation (from Latin Novatio, genitive - onis ) means ( He ) → innovation innovation contract

In the Austrian and German law of obligations is understood as a fault replacement in terms of content, through which the parties either agree on a change in the legal ground (for example, other type of contract ) or the main subject / object of the contract ( for example, other goods ). The widely held view in the Novation 'm not constitute a new contract, but the old contract would be continued with changed content goes, legally fail; Novation is a legal over Erlöschensgrund void of obligations ( German law: § 241 paragraph 1 BGB). The old debt ratio disappears completely, a new to replace this.

According to the jurisprudence of the Bundesgerichtshof ( German law ) as to the existence or non-existence of Novation is at the same titled contracts even to start from a presumption that the intention of the parties is to be interpreted ( Vertragsfreiheit! ) meaning that the old contract is extinguished. If the parties agree, for example, a " supplementary agreement " or a "Supplement" as is regularly assumed a debt modification in the pre- felt sense with the content that the current contract will be continued. And find no reference to the "old" debt ratio instead, there is a presumption by widerleglicher Novation before, with the result that the old obligation is extinguished.

The Novation is especially applicable when the basis of the Treaty has changed in a material respect and it is unclear whether the existing contract before the changed circumstances, despite an agreed amendment or addendum still valid or can have. Especially with a security interest ( pledge rights, liens, guarantees, letters of comfort, etc.) can make a Novation needed a change or shift of the object to be backed up. The (complete ) Novation is necessary, to recommend to the Parties, therefore, as it is less prone to error than the form, for example, the supplement contract.

Accruals

  • Debt Change: The change only affects subsections.
  • By comparison, a dispute or uncertainty of the parties to a legal relationship is eliminated by mutual concession.
  • Recognition: A dispute or uncertainty of the parties to a legal relationship is eliminated by unilateral concession.

Classification

Changes in the debt ratio

  • Staff Change of the creditor assignment
  • Instruction
  • Assumption of debt Assumption of debt, ( = several liability )
  • Novation
  • Debt change
  • Comparison
  • Acknowledgment
Federal Court of Justice of Germany Settlement (litigation)
609907
de