Novation is made by the substitution of a new debtor in place of the old one, with intent to release the latter.
S.D. Codified Laws § 20-7-7
Novation by substitution of debtor
Applied in 2 court decisions — leading case Haggar v. Olfert (1986)
Most recently applied in Hofer v. Merchants State Bank of Freeman (July 1987)
Source: CivC 1877, § 864, subdiv 2; CL 1887, § 3488, subdiv 2; RCivC 1903, § 1182, subdiv 2; RC 1919, § 789 (2); SDC 1939, § 47.0238 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.