Eckart

From a judgment in favor of plaintiff after trial before the court without a jury in an action to recover the purchase price of shares of stock defendant Helen A. Brown appeals.

The essential facts are:

September 10, 1936, H. R. McClintock with defendant Helen A. Brown’s consent assigned his rights under the foregoing agreement to plaintiff by a document reading as follows:

At the same time defendants executed a contract with plaintiff reading as follows:

February 9, 1938, plaintiff made written demand that defendant repurchase the 1875 shares of stock referred to in the agreements of March 28, 1936, and September 10, 1936. A portion of the written demand, which was delivered to defendants, read as follows:

This demand defendants failed to comply with.

The questions necessary to be determined are:

The first question must be answered in the affirmative, and is governed by these principles of law:

(1) Novation is the substitution of a new obligation for an existing one and is made (a) by the substitution of a new obligation between the same parties with intent to extinguish the old obligation, (b) by the substitution of a new debtor in place of the former one with intent to…