In a Novation

question 65

Multiple Choice

In a novation:

• A)the original obligor is completely discharged from his/her obligations under the contract.
• B)the original obligee is completely discharged from his/her obligations under the contract.
• C)the original obligor remains secondarily obligated.
• D)both the original obligee and the original obligor remain obligated.

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Definitions:

Sequential Games

Games in which players make decisions one after another, with each being aware of the previous players' decisions.

Monopolized

A market scenario where a single company or entity has exclusive control over the production, sales, and distribution of a product or service, limiting competition.

Sequential Game

A strategic game in game theory where players make decisions one after another rather than simultaneously, allowing for the observation of previous moves before making a decision.

Simultaneous Game

A game in which all players make their decisions or select their strategies at the same time without knowledge of the others' choices.