Effect of novation, rescission and alteration of contract

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....e performed 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 contrac....

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....nt with B, and gives B a mortgage of his (A's) estate for 5,000 rupees in place of the debt of 10,000 rupees. This is a new contract and extinguishes the old. (c)     &nbsp....