Which of the following is a difference between a novation and assignment?
A)Novation has new terms, whereas assignment does not.
B)Novation must be agreed to, whereas assignment must not.
C)All of the above are differences between a novation and assignment.
D)None of the above are differences between a novation and assignment.

Question

Quizplus · Accepted Answer

Novation involves the substitution of a new contract or party with new terms, while assignment transfers the rights and obligations of one party to another party without altering the original terms of the contract. Additionally, novation requires the agreement of all parties involved, while assignment may not always require agreement. Therefore, all of the above options are differences between novation and assignment.

Which of the Following Is a Difference Between a Novation