Your business may be placed at risk O a. When third parties become involved in what was originally a simple contract between two parties O b. When you are anticipating benefits to your business under a contract, and you still have the right to receive them c. When the terms of the contract are clear Od. When your business retains responsibilities, you had attempted to transfer to another person or business Privity of contract O a Means that contracts must be in writing to be enforceable O b. Means that parties must specifically denote their responsibilities in a contract OC. Means that persons named in a contract can be bound by the contract Od. Means that only persons who are parties to a contract may sue or be sued on the contract, unless there is a special circumstance such as a partnership To establish a novation, which of the following elements must be present O a. The creditor can accept the new contract O b. The original debtor is never discharged O c. The new debtor must assume complete liability O d. he creditor can accept the new debtor as a principal debtor only if there is provision for same To establish a novation, which of the following elements must be present O a. The creditor must accept the new debtor as a principal debtor O b. The new debtor must assume complete liability Oc. The original debtor is discharged Od. All of these O e. The creditor must accept the new contract in full satisfaction of the old contract