{"id":34553,"date":"2024-04-15T09:32:31","date_gmt":"2024-04-15T09:32:31","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=34553"},"modified":"2024-04-15T09:32:31","modified_gmt":"2024-04-15T09:32:31","slug":"a-owes-rs-10000-to-b-under-a-contract-it-is-agreed-between-a-b-and-c-that-b-shall-henceforth-accept-c-as-his-debtor-instead-of-a-for-the-same-amount-old-debt-of-a-is-discharged-and-a-new-debt-fro","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-owes-rs-10000-to-b-under-a-contract-it-is-agreed-between-a-b-and-c-that-b-shall-henceforth-accept-c-as-his-debtor-instead-of-a-for-the-same-amount-old-debt-of-a-is-discharged-and-a-new-debt-fro\/","title":{"rendered":"A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. This is"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Alteration of contract&#8221; option2=&#8221;Rescission of contract&#8221; option3=&#8221;Novation of contract&#8221; option4=&#8221;Charge in contract&#8221; correct=&#8221;option3&#8243;]<!--more--><\/p>\n<p>The correct answer is C. Novation of contract.<\/p>\n<p>A novation is a contract that replaces an existing contract between two or more parties. In this case, the existing contract is between A and B, and the new contract is between B and C. The old debt of A is discharged, and a new debt from C to B is contracted.<\/p>\n<p>Alteration of contract is a change to an existing contract. This can be done with the consent of all parties to the contract.<\/p>\n<p>Rescission of contract is the cancellation of an existing contract. This can be done with the consent of all parties to the contract, or by a court order.<\/p>\n<p>Charge in contract is a security interest that is created over property that is the subject of a contract. This can be done with the consent of the owner of the property, or by a court order.<\/p>\n<p>In this case, the old contract between A and B is replaced by a new contract between B and C. This is a novation, not an alteration, rescission, or charge.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Alteration of contract&#8221; option2=&#8221;Rescission of contract&#8221; option3=&#8221;Novation of contract&#8221; option4=&#8221;Charge in contract&#8221; correct=&#8221;option3&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[704],"tags":[],"class_list":["post-34553","post","type-post","status-publish","format-standard","hentry","category-legal-aspects-of-business","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. This is<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/a-owes-rs-10000-to-b-under-a-contract-it-is-agreed-between-a-b-and-c-that-b-shall-henceforth-accept-c-as-his-debtor-instead-of-a-for-the-same-amount-old-debt-of-a-is-discharged-and-a-new-debt-fro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. This is\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Alteration of contract&#8221; option2=&#8221;Rescission of contract&#8221; option3=&#8221;Novation of contract&#8221; option4=&#8221;Charge in contract&#8221; correct=&#8221;option3&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/a-owes-rs-10000-to-b-under-a-contract-it-is-agreed-between-a-b-and-c-that-b-shall-henceforth-accept-c-as-his-debtor-instead-of-a-for-the-same-amount-old-debt-of-a-is-discharged-and-a-new-debt-fro\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T09:32:31+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. This is","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/a-owes-rs-10000-to-b-under-a-contract-it-is-agreed-between-a-b-and-c-that-b-shall-henceforth-accept-c-as-his-debtor-instead-of-a-for-the-same-amount-old-debt-of-a-is-discharged-and-a-new-debt-fro\/","og_locale":"en_US","og_type":"article","og_title":"A owes Rs. 10,000 to B under a contract. It is agreed between A, B and C that B shall henceforth accept C as his debtor instead of A for the same amount. Old debt of A is discharged and a new debt from C to B is contracted. 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