Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which of the following statements is the best description of discharge by novation? Group of answer choices One party leads the other to reasonably believe
Which of the following statements is the best description of discharge by novation?
Group of answer choices
One party leads the other to reasonably believe that strict performance will not be insisted upon.
A new agreement is substituted for the old by the parties.
Both parties abandon their original agreement while it is still executory.
A party who has already performed their obligation agrees to relieve the other party from performing their obligation in return for their doing something different.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started