Nováció

Nováció refers to the legal act of substituting a new obligation for an existing one, thereby extinguishing the latter. This concept is rooted in civil law traditions and serves as a mechanism to modify or entirely replace contractual duties. For a nováció to be valid, there must be a clear intention from all parties involved to extinguish the old obligation and create a new one. This intention is often referred to as the animus novandi.

There are typically three main types of nováció. The first is nováció by change of obligation, where the subject matter or the essential terms of the original contract are altered. For example, if a debt is changed from a sum of money to the delivery of goods, this could constitute a nováció. The second is nováció by change of debtor, where a new debtor takes over the responsibility of the original debtor, who is then released from their obligation. This requires the consent of the creditor. The third is nováció by change of creditor, where a new creditor replaces the original creditor, and the debtor agrees to this change. The original creditor is then discharged from their obligation.

The effect of a valid nováció is the complete extinction of the original obligation, including any accessory rights such as suretyships or pledges, unless these are expressly preserved or recreated in the new obligation. This makes nováció a significant legal tool for restructuring debts, updating contractual terms, and facilitating business transactions by providing certainty and clarity regarding the parties' commitments.