The Substitution of an Old Contract for a New One

question 4

Multiple Choice

The substitution of an old contract for a new one that replaces an obligation or a party for another is a:

• A) novation.
• B) warranty.
• C) assignment.
• D) delegation of duties.

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Definitions:

Violation

The act of breaking or disregarding a law, agreement, or code of conduct.

Sherman Act

A foundational antitrust law passed by the U.S. Congress in 1890 aimed at preventing monopolies and promoting competition in business.

Concerted Activity

Activities undertaken jointly by employees for the purpose of collective bargaining or other mutual aid or protection regarding workplace conditions.

Antitrust Jurisdiction

The legal authority granted to courts or regulatory bodies to oversee, enforce, and regulate laws that promote competition and prevent monopolistic practices.