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Define Technology and Describe Its Three Primary Features

question 14

Essay

Define technology and describe its three primary features.


Definitions:

Promisee

The party in a contract who is promised something by another party (the promisor) and stands to benefit from the fulfillment of that promise.

Novation

The act of replacing one obligation with another, which involves a new party or a new agreement and extinguishes the original contract.

Substitute Contract

A legal agreement that replaces a previously made contract, either rectifying it or substituting parties or terms in the contract.

Original Obligor

The individual or entity originally responsible for fulfilling the obligations of a contract or agreement.

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