A novation requires the existence of a previous, valid obligation.
Correct Answer:
Verified
Q17: A special form is required to create
Q18: If a contract requires that performance be
Q19: Rights to receive funds can be assigned.
Q20: In most contracts, promises of performance are
Q21: A material breach occurs when performance is
Q23: If no time for performance is stated
Q24: Retail Outlets, Inc., contracts with Smooth Paving
Q25: Performance can be accomplished by tender.
Q26: Illya owes Jenny $1,000. In a separate
Q27: Steel, Inc., and Transport Company enter into
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