Asked by Talyn Rhodes on Apr 29, 2024

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Verified

If there is a novation, the original promisor's liability to the original promisee is relieved, even if the new promisor fails to perform.

Novation

Novation is the legal act of replacing an existing obligation with a new one, substituting a new party or obligation into an original contract.

Original Promisor

The individual or entity who initially makes a promise in a contractual agreement, especially in contexts involving subsequent assignments or transfers of obligations.

Original Promisee

The individual or entity to whom a promise or commitment is initially made in a contractual agreement.

  • Recognize the legal provisions and impacts of substituted contracts, novations, and accord and satisfaction.
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Verified Answer

JD
Jasleen DhillonApr 30, 2024
Final Answer :
True
Explanation :
In a novation, the original contract is replaced by a new one, releasing the original promisor from their obligations, regardless of whether the new promisor fails to perform.