Liabilities Under a Contract Can Be Assigned (Transferred)from One Party

question 13

Multiple Choice

Liabilities under a contract can be assigned (transferred) from one party to another by 'novation'.This means that all the parties agree:

• A)to replace the old contract with a new one that contains the same terms but allows a third party to be substituted for one of the original parties.
• B)to enter into an additional contract and pay novo damages to one or more parties.
• C)to replace the old contract with a new one that contains different terms.
• D)to discharge (end)the original contract and try to find new business partners

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Definitions:

Pay For Performance

A compensation strategy where employee pay is directly linked to their performance, often measured through objectives, metrics, or outcomes.

Meaningful Work

Work that is perceived to have significance and purpose by an individual, contributing to a sense of personal accomplishment and satisfaction.

Compensation Management

The practice of designing and implementing reward strategies and structures to fairly and effectively compensate employees for their contributions to the organization.

Compensation Specialists

Human resources professionals specialized in designing and administering compensation programs to ensure fair and competitive salary and benefits offerings.