If the host, for which an ARP table entry is present on the connected router, has changed its NIC(so that its MAC address has changed), what will happen when a packet is sent out on the link with the old MAC address by the router?
Will any kind of error message(like ICMP) be generated at layer2/3? If yes, what will be its SIP and DIP?
Nothing will happen, the packet will be "lost", and time-out.
Depending on the implementation, the router will then try with arp again, get the new mac and then send the next* packet to the new address.
*with tcp, the lost packets will be retransmitted, with udp, it depends on the higher protocol (l7) - usually not