Key Terms Instructions: Please Define the Following Key Terms

question 27

Essay

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Thomas Hill Green

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Definitions:

Novation

The process of replacing an existing obligation with a new one, thereby extinguishing the original contract and starting anew.

Privity of Contract

The relationship between parties in a contract that confers rights and obligations. It typically prevents a third party from enforcing or being subject to the terms of the contract.

Equitable Assignment

The transfer of future rights to benefits in property or contracts, recognized by equity rather than common law.

Non Est Factum

A legal defense claiming a contract is invalid because it was misunderstood or misrepresented at the time of signing, not reflective of the signer's intent.