A novation agreement template is a legal document that states the addition of some obligation in place of some previous ones, or it states the replacement of a party with another substitute. A novation agreement is a helpful tool to assign some sort of duties or to grant some sort of assets or resources to a party as a substitute for what was promised earlier. The issuance of a novation agreement cancels out the previous agreement signed to legalize the assignment of previous party or duties replaced. The generation of a novation agreement definitely includes the consent of both the…