Which of the following statements is true of novation?
A) Novation is a type of discharge of contract in which the original agreement is substituted with a new one.
B) Novation leads to a change in the contractual duties of the new party.
C) Novation can be carried out only if all the original parties agree to the substitution of new parties.
D) Novation refers to a particular future event that terminates the contract if it does not follow the execution of the contract.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true of novation?
A) Novation is a type of discharge of contract in which the original agreement is substituted with a new one.
B) Novation leads to a change in the contractual duties of the new party.
C) Novation can be carried out only if all the original parties agree to the substitution of new parties.
D) Novation refers to a particular future event that terminates the contract if it does not follow the execution of the contract.

Which of the Following Statements Is True of Novation