Which of the Following Refers to an Agreement That Substitutes

question 41

Multiple Choice

Which of the following refers to an agreement that substitutes a new party for one of the original contracting parties and relieves the existing party of liability on the contract?

• A) a novation
• B) a substituted contract
• C) a mutual rescission
• D) an accord

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Definitions:

Planning

The process of defining goals, establishing strategies to achieve those goals, and developing plans to integrate and coordinate activities.

Management Process

Planning, organizing, leading, and controlling the use of resources to accomplish performance goals.

Planning

The process of setting objectives, determining strategies, and outlining tasks and schedules to achieve the goals.

Managerial Efforts

The actions or initiatives taken by managers to achieve organizational goals.