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According to the Text,which of the Following Statements Is True

question 68

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According to the text,which of the following statements is true?


Definitions:

Equitable Remedy

A non-monetary court order to take or refrain from taking specific actions, granted when money damages are insufficient.

Accord and Satisfaction

A legal agreement between parties to settle a dispute by agreeing on an alternative obligation other than what was originally owed.

Novation

The act of replacing an existing obligation with a new one, effectively transferring the rights and duties to a third party.

Liquidated Damages

A contractual provision that determines in advance the amount of damages to be paid if a party breaches the contract.

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