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Sherry and Jason Have Two Children Each from Previous Marriages

question 82

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Sherry and Jason have two children each from previous marriages.When they marry,they create a


Definitions:

Novation

The act of replacing an old obligation with a new one, substituting a new party for the original party, or changing the terms of an existing obligation.

Delegation

The assignment of authority and responsibility to another person to carry out specific activities while retaining the ultimate accountability.

Mechanic

A professional who repairs and maintains machinery, engines, and other mechanical equipment.

Mortgage

A mortgage is a legal agreement by which a bank or another creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

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