In the divorce agreement between Ted and Alice, Alice agreed to assume the debt on Ted's credit card. The credit card company agrees to this arrangement. This is an example of:
A) accord and satisfaction
B) promissory estoppel
C) rescission
D) revocation
E) none of the other choices

Question

Quizplus · Accepted Answer

This scenario is an example of "novation," where a new contract replaces an old one with the consent of all parties involved, including the creditor. However, "novation" is not listed among the provided options, making "none of the other choices" the correct answer.

In the Divorce Agreement Between Ted and Alice, Alice Agreed