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Editing Contracts/Novation
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'''Novation''', in [[contract law]] and [[business law]],<ref>{{cite web | url=http://www.chicagofed.org/digital_assets/publications/understanding_derivatives/understanding_derivatives_chapter_1_derivatives_overview.pdf |title=Derivatives Overview|publisher=Chicago Fed|author=Richard Heckinger and David Mengle}}</ref> is the act of – | '''Novation''', in [[contract law]] and [[business law]],<ref>{{cite web | url=http://www.chicagofed.org/digital_assets/publications/understanding_derivatives/understanding_derivatives_chapter_1_derivatives_overview.pdf |title=Derivatives Overview|publisher=Chicago Fed|author=Richard Heckinger and David Mengle}}</ref> is the act of – | ||
# replacing an obligation to perform | # replacing an obligation to perform wi; or | ||
# adding an obligation to perform; or | # adding an obligation to perform; or | ||
# replacing a party to an agreement with a new party. | # replacing a party to an agreement with a new party. |