Which of the Following Involves a Third-Party Substitution

question 72

Multiple Choice

Which of the following involves a third-party substitution?

• A) novation
• B) accord and satisfaction
• C) substitute agreement/modification
• D) rescission

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Definitions:

Ownership Limitations

Restrictions or constraints on the rights of owning property, which may be imposed by law, regulations, or agreements.

Partial Ownership

Holding a fraction or a portion of the total stake or equity in a property, company, or financial asset.

Real Property

Refers to land and anything permanently attached to the land, like buildings and structures.

Stock Investments

The act of putting money into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit, particularly through the purchase of equity securities in companies.