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Discuss Thomas M.Garrett's principle of proportionality.What are the five factors that managers need to consider in their decisions?
Novation
The act of replacing an obligation to perform with a new obligation or replacing a party to an agreement with a new party.
Mortgage
A legal agreement by which a bank, building society, etc., lends money at interest in exchange for taking the title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Assignment
The transfer of rights or property from one party to another.
Delegation
The act of assigning responsibility or authority from one person or group to another.
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