Which of the Following Is a Mutual Agreement,between All Parties

question 65

Multiple Choice

Which of the following is a mutual agreement,between all parties concerned,for the discharge of a valid existing obligation by the substitution of a new valid obligation on the part of the debtor or another?

• A)Novation
• B)Ratification
• C)Accession
• D)Proclamation

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Definitions:

Investment Value

The worth of an asset or security at a specific point in time, taking into account factors such as market conditions and risk.

Interest Earned

The amount of money earned over a period of time through investments or savings that accrue interest.

Simple Interest Rate

This rate calculates interest payments only on the initial amount of money (the principal), not on the interest accrued over time.

Simple Annual Interest

Interest earned or paid on the original principal for a year without compounding.