Jane and Kelly want Lucy to replace Kelly as a party to their con?tract.They can best accomplish this by
A)a mutual agreement to rescind.
B)an accord and satisfaction.
C)a novation.
D)an alteration of the contract.

Question

Quizplus · Accepted Answer

A novation is the best option as it involves the substitution of a new party (Lucy) for one of the original parties (Kelly) in the contract. This requires the mutual agreement of all parties involved and releases the original party (Kelly) from any further obligations under the contract while Lucy assumes all rights and responsibilities. Option A, a mutual agreement to rescind, would essentially cancel the existing contract and require a new agreement to be formed with Lucy included. Option B, an accord and satisfaction, typically involves the settlement of a disputed claim and would not be applicable in this scenario. Option D, an alteration of the contract, would require the consent of all parties and would not necessarily result in the replacement of Kelly with Lucy.

Jane and Kelly Want Lucy to Replace Kelly as a Party