Barbara and Johann Are Parties to a Contract

question 38

Multiple Choice

Barbara and Johann are parties to a contract. They agree on a novation. The novation requires

• A) ​the existence of a previous, valid obligation.
• B) ​consideration greater than $5,000.
• C) ​performance of the original contract by all of the parties.
• D) ​an accord and satisfaction.

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Definitions:

Stakeholders

Individuals or groups that have an interest in any decision or activity of an organization.

Feminization of Survival

The process through which women increasingly become the primary providers of subsistence for themselves and their families, often in contexts of economic disparity and social marginalization.

Migration

The movement of people from one location to another with the intention of settling temporarily or permanently in the new location.

Income

The financial gain received by an individual or entity, typically through work, investments, or other economic activities.