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).