10. Martin Stern sued for his architectural services rendered to Jacobson in Jacobson's development of a hotel and casino, in April Jacobson contracted with Stern for the architect's services and the fee. On May 1. lacobson acquired all the stock of ALW., Inc., a corporation that had previously operated a casino on the site of the new development. On May 9, ALW. began to operate the casino, but it filed bankruptcy. Stern did not file a claim in the bankruptcy proceeding but rather brought suit directly against Jacobson When the trial court awarded Stem $132,590,37. Jacobson appealed on the ground that ALW adopted his obligations, which constituted a novation. Has a valid novation occurred that would release Jacobson from his personal liability? Explain