Note: it shows where another person can take the place of the original debtor. To make any of these be accepted, there has to be consideration (money like a Postal Money Order) otherwise the creditor will not actually have to accept it.

Novation is a substitution of a new for an old debt. The old debt is extinguished by the new one contracted in its stead; a novation may be made in three different ways which form three distinct kinds of novations.

The first takes place without the intervention of any new person, where a debtor contracts a new engagement with his creditor, in consideration of being liberated from the former. This kind has no appropriate name and is called a novation generally. (This is the one We are normally using.)

The second is that which takes place by the intervention of a new debtor, where another person becomes a debtor instead of a former debtor, and is accepted by the creditor, who thereupon discharges the first debtor. The person thus rendering himself debtor for another, who is in consequence discharged, is called expromissor; and this kind of novation is caned expromissio. (This question was asked the other day, but nobody seemed to want to comment on My answer which showed it is OK and (You can make it stick, as long as you send a Postal Money Order (consideration) with it))

The third kind of novation takes place by the intervention of a new creditor where a debtor, for the purpose of being discharged from his original creditor, by order of that creditor, contracts some obligation in favor of a new creditor. There is also a particular kind of novation called a delegation. (They do this all of the time, that is why We have a hard time knowing who to address in the business letter and so forth.)

It is a settled principle of the common law, that a mere agreement to substitute any other thing in lieu of the original (must accept the entire debt) obligation is void unless actually carried into execution and accepted as satisfaction. No action can be maintained upon the new agreement, nor can the agreement be pleaded as a bar to the original demand. But where an agreement is entered into by deed, that deed gives, in itself, a substantive cause of action and the giving such deed may be sufficient accord and satisfaction for a simple contract debt.

The general rule seems to be that if one indebted to another by simple contract, give his creditor a promissory note, drawn by himself for the same sum, without any new consideration, the new note shall not be deemed a satisfaction of the original debt unless so intended and accepted by the creditor. But if he transfers the note he cannot sue on the original contract as long as the note is out of his possession. (Must include a minimum of $1.00 to eliminate this possibility, to compel acceptance.)

NOVATION AGREEMENT - A legal instrument executed by

(a) the contractor (transferor),

(b) the successor in interest (transferee), and

(c) the by which, among other things, the transferor guarantees performance of the contract, the transferee assumes all obligations under the contract, and the purchaser recognizes the transfer of the contract and related assets.

Note: When they transfer the "account" to a successor, they have to make any guarantees to the collector they deal with. Our Novation is as agreed to in the past, and it is supposed to be disclosed to the new collector and then they assume all obligations of the contract. Do You think this is why some of them are trying to transfer the account We have AFV-RFV'd and then CA'd, to compel the new collector into being responsible for the debt it has accepted instead of providing proof of claim?

Using Commercial Redemption, We never make any claims, only agreements in trade for the default the one demanding payment (or performance) is bound to make in this system. As long as this method is used, there is nothing We can ever be called upon to prove, and the courts have no jurisdiction to enter into Our private affairs (contract) without our assent. We, in the end are the only one with standing to even possibly lodge a complaint with clean hands and good standing, but do not because it is not open for any judgment by an outside source. Everything remains within Our Own Jurisdiction, bound by a token amount of consideration, and using Our "EIN" places the transaction as a public "Act" that places them in rebellion against public policy upon complaint or persistence of the claim, and We are now the judge of the affair.

LEGAL DEFINITION of NOVATION

Novation is a substitution of a new for an old debt. The old debt is extinguished by the new one contracted in its stead; a novation may be made in three different ways which form three distinct kinds of novations.

The first takes place without the intervention of any new person, where a debtor contracts a new engagement with his creditor, in consideration of being liberated from the former. This kind has no appropriate name and is called a novation generally.

The second is that which takes place by the intervention of a new debtor, where another person becomes a debtor instead of a former debtor, and is accepted by the creditor, who thereupon discharges the first debtor. The person thus rendering himself debtor for another, who is in consequence discharged, is called expromissor; and this kind of novation is caned expromissio.

The third kind of novation takes place by the intervention of a new creditor where a debtor, for the purpose of being discharged from his original creditor, by order of that creditor, contracts some obligation in favor of a new creditor. There is also a particular kind of novation called a delegation.

It is a settled principle of the common law, that a mere agreement to substitute any other thing in lieu of the original obligation is void unless actually carried into execution and accepted as satisfaction. No action can be maintained upon the new agreement, nor can the agreement be pleaded as a bar to the original demand. But where an agreement is entered into by deed, that deed gives, in itself, a substantive cause of action and the giving such deed may be sufficient accord and satisfaction for a simple contract debt.

The general rule seems to be that if one indebted to another by simple contract, give his creditor a promissory note, drawn by himself for the same sum, without any new consideration, the new note shall not be deemed a satisfaction of the original debt unless so intended and accepted by the creditor. But if he transfer the note he cannot sue on the original contract as long as the note is out of his possession.

NOVATION AGREEMENT

A legal instrument executed by

(a) the contractor (transferor),

(b) the successor in interest (transferee), and

(c) the by which, among other things, the transferor guarantees performance of the contract, the transferee assumes all obligations under the contract, and the purchaser recognizes the transfer of the contract and related assets.

For more information: Contact Us

See Also:

Legally Cancel Your Student Loans. http://studentloan2.com

Void Judgments: http://void-judgments.com

http://releasemytaxlien.com Is here to show you how to release your IRS tax lien. It works every time guaranteed!



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