Ben and Andrew are parties to a contract. They agree on a novation. The novation does NOT require
A)the existence of a previous,valid obligation.
B)agreement by all the parties to a new contract.
C)performance of the original contract by all of the parties.
D)a new,valid contract.

Question

Quizplus · Accepted Answer

A novation does not require the performance of the original contract by all of the parties. It involves replacing an existing obligation with a new one, with the consent of all parties involved.

Ben and Andrew Are Parties to a Contract