is a type of discharge of contract in which new parties are substituted for the original parties to the agreement.
A) Impossibility of performance
B) Accord and satisfaction
C) Novation
D) Condition subsequent

Question

Quizplus · Accepted Answer

Novation is a type of discharge of contract in which new parties are substituted for the original parties to the agreement. This typically occurs when there is a change in the ownership or structure of one or both of the original parties, or when one of the original parties is unable to fulfill their obligations under the agreement. The novation agreement effectively releases the original parties from their duties and responsibilities under the original contract, and replaces them with new parties who agree to assume those duties and responsibilities.

Is a Type of Discharge of Contract in Which New