Which of the following statements about a novation is false?
A. Under a novation, the obligee has the right to look to the new obligor for fulfillment of the contract.
B. A novation only requires the obligee's consent to having the delegatee perform the duties.
C. Under a novation, the original obligor has no further obligation under the contract.
D. A novation is a type of substitute contract.
Answer: B
You might also like to view...
Gone With the Wind myths often take place in times of upheaval, such as war
Indicate whether the statement is true or false
Which of the following statements is true concerning prior service cost?
A) Prior service costs are the costs of retroactive benefits. B) Prior service cost is reported as a liability at the date of the plan amendment. C) Prior service cost is reported as a negative element of other comprehensive income at the date of the plan amendment. D) All of these answer choices are correct.
Which of the following is a characteristic of common shares?
A) They have voting rights for directors B) They carry a preferential right to distribution of assets on breakup. C) They carry veto rights in annual general meetings of the company D) They allow for the payment of lower rates of withholding tax on declared dividends E) They attract a greater amount of dividend
Under U.S. law, the ____ is forbidden to be broadcast directly to American citizens
A. TOA B. VOA C. DOA D. BOA