Which of the following is true?
A) A novation occurs when the parties to a contract agree to terminate it and substitute a new contract.
B) A novation occurs where one party leaves a contract and his or her place is taken by another person.
C) A novation occurs where parties to a contract change the subject matter of a contract.
D) C only
E) A, B, & C

Question

Quizplus · Accepted Answer

A novation occurs when the parties to a contract agree to terminate it and substitute a new contract, where one party leaves a contract and his or her place is taken by another person, and where parties to a contract change the subject matter of a contract.

Which of the Following Is True