Which of the following occurs when the parties to the agreement wish to replace one of the parties with a third party?
A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question

Quizplus · Accepted Answer

Sometimes the parties to the agreement want to replace one of the parties with a third party. This substitution of a party is called novation.

Which of the Following Occurs When the Parties to the Agreement