Leah and Mason are parties to a contract for the sale of Mason's day care facility to Leah. Before the deal closes, they agree to substitute Nell for Leah as a party to the deal. This does not require
A)the existence of a previous, valid obligation.
B)agreement by all the parties to a new contract.
C)performance of the original contract by all of the parties.
D)a new, valid contract.

Question

Quizplus · Accepted Answer

Performance of the original contract by all of the parties is not required because the substitution of a party (novation) replaces the original contract with a new one, releasing the original party from their obligations.

Leah and Mason Are Parties to a Contract for the Sale