Section 20-7-8 - Novation by substitution of creditor

20-7-8. Novation by substitution of creditor.Novation is made by the substitution of a new creditor in place of the old one, with intent to transfer the rights of the latter to the former. Source: CivC 1877, §864, subdiv 3; CL 1887, §3488, subdiv 3; RCivC 1903, §1182, subdiv 3; RC 1919, §789 (3); SDC 1939, §47.0238 (3).