Which of the Following Statements Regarding Novation Is False

question 19

Multiple Choice

Which of the following statements regarding novation is false?

• A) Novation refers to the creation of a new contract through the substitution of a third party for one of the original parties to a contract, with everyone's consent.
• B) Novation requires that the new debtor assume complete liability.
• C) Novation requires the creditor to accept the new debtor as principal debtor, not merely as a guarantor.
• D) Novation requires the creditor to accept the new contract in full satisfaction and substitution for the old contract.
• E) Novation requires the inclusion of a force majeure clause in order to be enforceable.

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Other Cultures

Refers to the customs, beliefs, arts, institutions, and all other products of human work and thought characteristic of a community or population that is different from one's own.

African-American

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The diverse traditions, languages, arts, social institutions, and practices of the people of Africa.