A(n) ________ occurs when a party to a contract transfers her duty to perform to a third party that is not part of the original contract.

A) novation
B) assignment
C) delegation
D) substantial performance
E) agency

Novation

The act of replacing one party or obligation in a contract with another, requiring the agreement of all parties involved.

Assignment

The transfer of rights, property, or obligations from one party to another, a common practice in contracts and financial transactions.

Delegation

The process of assigning responsibility and authority to another person to carry out specific activities.