Effect of novation, rescission and alteration of contract

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..... ormed Effect of novation, rescission and alteration of contract. 62. If the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need not b .....

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..... ees. This is a new contract and extinguishes the old. (c) A owes B 1,000 rupees under a contract, B owes C 1,000 rupees. B orders A to credit C with 1,000 rupees in his books, but C does not assent to .....

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