novatie
Novation is a legal concept in contract and commercial law referring to the substitution of a party or obligation in a contract with a new one, resulting in the extinguishment of the original agreement and the creation of a new contract. It involves three parties: the existing debtor and creditor, and the party stepping into the contract (either as a new debtor or a new creditor).
There are two common forms. First, a substitution of the debtor, where the original debtor is replaced
Novation differs from assignment. An assignment transfers only rights under a contract, usually leaving the original
Common contexts include loan agreements, leases, and service or supply contracts, often used in debt restructurings,