Molly and Craig Are the Original Parties to a Contract

question 43

Multiple Choice

Molly and Craig are the original parties to a contract.Craig is obligated to design a Website for Molly.They subsequently make an agreement with Eric that Eric should take the place of Craig and assume all of Craig's rights and duties under the contract.The agreement releases Craig from his obligations under the contract.This agreement is

• A)a novation.
• B)an accord and satisfaction.
• C)an assignment.
• D)a nullification.

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Definitions:

Canada and Mexico

Two countries in North America, each having distinct cultures, economies, and political systems, but are partners with the United States in trade agreements such as the USMCA.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.

Case Law

Law established by judicial decisions in particular cases, instead of by legislative statutes or executive actions.

International Law

A body of rules, agreements, and treaties that are legally binding between countries, governing their conduct and relations on a global scale.