How have the principles of novation been applied in the context of a mortgage modification agreement?
British Columbia, Canada
The following excerpt is from Vancouver City Savings Credit Union In Trust v. Cawker, 2004 BCCA 160 (CanLII):
Applying the principles of novation as set out in Polson v. Wulffsohn (quoted at para. 30 above), the first two are satisfied. The respondents’ daughter was liable as principal debtor and was accepted as such by the appellant. However, the language of the Mortgage Modification Agreement does not establish that the appellant accepted that agreement in full satisfaction and substitution for the old contract (specifically the covenants of the respondents to pay the mortgage debt) and there is no evidence of conduct on the part of the appellant that would establish this third element.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Does a waiver of any right to apply to vary any term of the agreement between the parents apply to this court? (British Columbia, Canada)
What is the applicable principle on the principle of an agreement not to be reached until money is paid? (British Columbia, Canada)
How have the Kropp principles been applied in the context of a foreign corporate plaintiff? (British Columbia, Canada)
What is the test for establishing a collateral agreement where the collateral agreement is inconsistent with or contradicts the written agreement? (British Columbia, Canada)
How have the principles of Pecore been applied in the context of an application by the Court of Appeal? (British Columbia, Canada)
What are the principles of the principles in the context of a personal injury assessment? (British Columbia, Canada)
Does the law of trespass still apply in the context of a commercial parking agreement? (British Columbia, Canada)
How have the principles of tortfeasor's law been interpreted in the context of the case law, and what are the principles with respect to animals generally? (British Columbia, Canada)
Does the parol evidence rule apply to a payment agreement where the payment agreement states that no refunds should be made unless the payment policy is less than one month's notice? (British Columbia, Canada)
What are the principles applied on an application to examine a second representative of a corporate defendant? (British Columbia, Canada)
