A Novation Requires the Existence of a Previous, Valid Obligation

question 68

True/False

A novation requires the existence of a previous, valid obligation.​

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Definitions:

Win-lose

A competitive scenario where one party's gain is exactly balanced by another party's loss.

Implementing Agreement

The act of putting into practice or executing the terms and conditions of a settled deal or consensus.

Responsibilities

Duties and tasks that an individual or entity is required to perform or oversee.

Scope

The extent or range of coverage, application, or operation; the breadth of something.