If There Is a Novation,the Original Promisor Remains Liable to the Original

question 38

True/False

If there is a novation,the original promisor remains liable to the original promisee if the new promisor fails to perform.

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Definitions:

Constant Returns to Scale

A situation in economic production where increasing all inputs by any proportionate amount results in output increasing by the same proportion.

Long-Run Average Total Cost Curve

A graphical representation that shows the lowest possible cost at which a firm can produce any given level of output when all inputs are variable.

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Gasoline Prices

The cost per unit volume of gasoline, typically influenced by factors like crude oil prices, taxes, and demand.