What were Min-ji,Marcus,and Penelope seeking by requesting a novation in regards to the lawsuit threatened by Callie?
A) An agreement by which Min-ji,Marcus,Penelope,Callie,and the corporation would agree that the corporation would be liable to Callie,and that Min-ji,Marcus,and Penelope would be released.
B) An agreement by which Callie agreed to delay her claim for one year in order to give the corporation a chance to make a profit.
C) An agreement by which the corporation would be substituted as the debtor instead of Min-ji,Marcus,and Penelope so long as the corporation made a profit in its first year of existence.
D) An agreement by which Min-ji,Marcus,Penelope,Callie,and the corporation would agree that the company would be liable to Callie for one half the debt and that Min-ji,Marcus,and Penelope would be liable for only one half of the debt.
E) An agreement by which Min-ji,Marcus,and Penelope would be discharged from the debt so long as the new corporation agreed to do an agreed upon amount of business with Callie for a certain period.
Correct Answer:
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