20-7-6. Novation by substitution of obligation.Novation is made by the substitution of a new obligation between the same parties, with intent to extinguish the old obligation. Source: CivC 1877, §864, subdiv 1; CL 1887, §3488, subdiv 1; RCivC 1903, §1182, subdiv 1; RC 1919, §789 (1); SDC 1939, §47.0238 (1).
South Dakota Legal Code