Examlex
Which of the following statements is true of managing diversity?
Novation
The process of replacing an obligation to perform with a new obligation or substituting a new party to an agreement.
Anticipatory Repudiation
An assertion or action by a party indicating they will not perform their future obligations under a contract, allowing the other party to treat the contract as breached.
Objective Standard
A guideline used in law that is based on what a reasonable person would believe or do under the circumstances, rather than on the subjective intentions of the parties involved.
Illusory Contract
An agreement that lacks a binding obligation from one or more parties, typically because terms are too vague or one party has the option not to perform their promise.
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