The novation of the Research Agreement occurred because both Dr Leahy and Cyprotex acted on and after 21 March 2001 when Cyprotex Ltd was incorporated as if Cyprotex Ltd was the contracting party with Sheffield.
However, we consider that there can have been a partial change of the parties by novation , if the language of the revised contract achieves that effect.
The trial judge found that novation could not stand - he disregarded it.
In fact it is possible for the parties to provide for novation in advance and establish a contractual mechanism by which novation takes place automatically on the happening of a specified act or event.
We agree that self-evidently New India was not an original party and there is no basis upon which it could be held that there was any novation or transfer to New India of the rights and obligations of the insured under the Club Rules.
The borrower can no longer set off any deposit it has with the seller if the whole loan agreement has been novated .
In April 1998, he novated the contract with my client to rebuild the roads to Hillpalm.
Was it a new or novated agreement whereby FTC replaced Group Co as buyer?
If the security is not held in trust, it should be assigned rather than novated .
The agreement dated 23 December 1997 made between Franklin Ellis and Castle Wharf (and thereafter novated in favour of Jarvis) contains what appears to be a list of standard descriptions of the services it was to provide.