Examveda
Examveda

X owes Rs. 10,000 to Y under a contract. It is agreed between X, Y & Z that Y shall henceforth accept Z as his debtor instead of X for the same amount. Old debt of X is discharged and a new debt from Z to Y is contracted. This is:

A. Alteration of contract

B. Rescission of contract

C. Novation of contract

D. Change in contract

Answer: Option C


This Question Belongs to Law >> Indian Contract Act

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