Where the parties to a contract agree to substitute a new contract for it, it is known as

Related MCQs

• The law regarding Novation, i.e., where a new contract is substituted in place of the old one by means of an agreement between the parties to a contract or between them and a third party, is contained in
• Each party to a contract is bound to perform his part of the obligation. After the parties have made due performance of the contract comes to an end. In such a case the contract is said to be discharged :
• An agreement to agree in future upon terms to be settled afterwards between the parties is
• When the performance of a contract becomes impossible, the purpose which the parties had in mind is frustrated. If the purpose becomes impossible because of supervening event, the promisor is excused from the performance of the contract. This is known as :
• When parties enter into a contract on telephone the contract becomes complete at the place where acceptance is heard by the proposer. This has been provided
• For binding contract both the parties to the contract must
• Where the parties to a contract have agreed that a certain sum of money would be paid in case of breach of contract, the Court will ensure that
• When one of the parties to the contract has performed its part of the promise which constitutes the consideration for the promise by the other side, it is known as
• Where there is a contract for the sale of specific goods, and the goods perish before the making of contract, without the knowledge of the seller, the contract is
• Essence of ……. lies not in the dissimilarity of the terms between the two contracts but in the intention of the parties to supersede the old by the new.