Question: What is a novation?

What is a novation?

Step by Step Solution

★★★★★

3.28 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A novation is a new separate agree... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (2 attachments)

PDF file Icon

1805_60b8c121330eb_743483.pdf

180 KBs PDF File

Word file Icon

1805_60b8c121330eb_743483.docx

120 KBs Word File

Students Have Also Explored These Related Law for Business Questions!

Q:

Martin Stern Jr. was an architect who worked in Nevada. Nathan Jacobson asked Stern to draw plans for Jacobsons new hotel/ casino, the Kings Castle at Lake Tahoe. Stern agreed to take on the project...

Q:

What is the difference between a rescission and a novation?

Q:

On March 13, GS Petroleum (GS) signed an agreement to sell a Shell gas station to R and S Fuel, Inc. (Fuel). On April 2, Fuel opened a corporate bank account and began writing checks on it. On April...

Q:

Please answer the four questions in the file February 2013 Exposure Draft ED/2013/2 Novation of Derivatives and Continuation of Hedge Accounting Proposed amendments to IAS 39 and IFRS 9 Comments to...

Q:

1. When an obligation is extinguished because of the passage of time, this is: (Phil CPA, 90-2) a. Fulfillment of resolutory condition. b. Arrival of a resolutory period c. Rescission d. Prescription...

Q:

CAUSES OF EXTINGUISHMENT OF OBLIGATIONS COMPENSATION Article 1279. In order that compensation may be proper, it is necessary: (1) That each of the obligors be bound principally, and that he be at the...

Q:

Articles 1291-1304. MULTIPLE CHOICE: Choose the letter of the correct answer. 1.It is the extinguishment of an obligation by the substitution or change of the obligation by a subsequent one which...

Q:

The transfer of contractual rights to a third party is known as a(n): obligor delegator obligee assignment In a contract, the person to whom a duty, or obligation, is owed is the assignment obligor...

Q:

The transfer of contractual rights to a third party is known as a(n): obligor delegator obligee assignment In a contract, the person to whom a duty, or obligation, is owed is the assignment obligor...

Q:

The transfer of contractual rights to a third party is known as a(n): obligor delegator obligee assignment In a contract, the person to whom a duty, or obligation, is owed is the assignment obligor...

Q:

The Bohring Company manufactures a sophisticated radar unit that is used in a fighter aircraft built by Seaways Aircraft. The first 50 units of the radar unit have been completed, and Bohring is...

Q:

Explain basic principal of cycloconverter.

Q:

The payments were made to the surviving spouse and children rather than to the employee's estate. YesNo b . The employer derived no benefit from the payments. YesNo c . The surviving spouse and...

Q:

3. Describe how to perform different methods of sales analysis for different organizational levels and different types of sales.

Q:

Imagine that you are a portrait painter. Create an ad for your services to be placed in a local paper.

Q:

Write a reward offer for the return of your missing pet skunk. It has not been deodorized.

Q:

Assume that Elisa were allowed to bring a lawsuit against Trenton and was successful. Write a paragraph examining possible remedies that might be appropriate, such as damages or court orders.

Q:

What is the primary difference between the null and the research hypothesis? What is the importance of assuming the null hypothesis is true

Q:

Lipscomb is set to establish a reorder policy for his remote snack bar located on Vacation Island. He sells 10 cases of soda per day and has a lead-time for delivery of one week. Occasionally, bad...

Q:

Your friend Phil, asks you what you think about a new scratch- off lottery game. It costs $10 to play this game, There are two outcomes for the game (win, lose) and the probability that a player wins...