Novation means Oa. the transfer of contractual rights to a third party b. the sale of a contract Oc. the cancellation of the contractual rights Od. an amendment to contract A valid novation requires O a. a change in contractual terms. Ob. the consent of all parties to a contract. Oc. notification to all parties effected by the contract. Od. a new written contract. Equitable assignment includes the following except... Oa. Does not permit the assignee to bring an action in his or her own name b. Requires notification of the debtor of the assignment Oc. Does not create a binding agreement d. May be oral or written
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the transfer of contractual rights to a third party. Novation refers to the transfer of rights and obligations under a contract to a third party, effectively replacing one party with another. For the second question, the correct answer is d. a new written Show more…
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