What is the test for determining if a novation has occurred?
British Columbia, Canada
The following excerpt is from Canada Trustco Mortgage v. Novin; Novin v. Canada Trustco Mortgage Company et al, 2005 BCSC 1525 (CanLII):
The test for determining if a novation has occurred was set out in Polson v. Wulffsohn (1890), 2 B.C.R. 39 (S.C.); 1. the new debtor must assume the complete liability; 2. the creditor must accept the new debtor as principal debtor and not merely as an agent or guarantor; and 3. the creditor must accept the new contract in full satisfaction and substitution for the old contract.
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