Contracts
Under Louisiana law, 'novation' in a real estate contract means:
AThe addition of new terms to an existing contract
BThe substitution of a new contract or party for an existing one, releasing the original party✓ Correct
CA court order enforcing the original contract
DThe addition of a co-borrower to a mortgage
Explanation
Novation replaces an existing contract with a new one, or substitutes a new party for an original party, thereby releasing the original party from their obligations.
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