If, by the terms thereof, the new contract has not taken effect,1 as where it is to take effect when it is reduced to writing, and signed and approved by all the parties thereto, and some of the parties fail to sign and to approve it,2 such new contract does not affect the original contract. A new contract which is intended to be executed by both parties to the original contract, ana the creditors of one of such parties, does not operate as a discharge of the prior contract where not executed by such creditors.3

[rehearing denied (Ky.), 116 S. W. 1201].

3 John King Co. v. Louisville & N. R. Co., 131 Ky. 40, 114 S. W. 308 [rehearing denied (Ky.), 116 S. W. 1201].

4 Waters v. White, 75 Conn. 88, 32 Atl. 401; Sisson v. Kaper, 105 Ia. 599, 75 N. W. 400.

5 Moorman v. Plummer Lumber Co., 113 La. 429, 37 So. 17; King v. Duluth, Missabe & Northern Ry., 61 Minn. 482, 623 N. W. 1105; Carolina Hardware Co. v. Raleigh Banking & Trust Co., 169 N. Car. 744, 86 S. E. 706.

See Sec. 555.

1 Carter v. Rhodes, 135 Cal. 46, 66 Pac. 985.

2 Pease v. McQuillin, 180 Mass. 135, 61 N. E. 819.

3 Johnson v. Broughton, 183 Ky. 628. 210 S. W. 455.

4Kissack v. Bourke, 224 III. 352, 79 N. E. 019.

See Sec. 610.

5 People's Savings Bank v. Wright, 1S3 Ky. 362, 209 S. W. 342 (obiter).

1 Libby v. Barry, 15 N D. 286, 107 X. W. 972.