Rosielynn1234 Rosielynn1234

17-05-2024
Business

Answered

Which of the following scenarios is an example of novation?
Unset starred question
Cynthia has a contract with Jack to buy his house. She terminates the contract after the inspection and writes a similar contract on a new property with Jeff.
Doug is buying Norm's farm, but has a serious accident and no longer wants to own a farm, so his daughter Linda decides to buy the property. Norm agrees to the substitution of Linda for Doug in the purchase contract, effectively creating a new contract.
Marcie contracts to buy Suzanna’s beauty salon. Marcie gets cold feet, though, and terminates the contract.
Using a clause in the original purchase contract, Roxanne assigns her contractual right to purchase a property to her friend, Caroline.

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