Examlex
Describe the six steps of the knowledge management system cycle.
Notice of Assignment
A formal notification that a contract or property has been legally transferred from one party to another.
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.
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