Asked by Steven McCoy on Jul 03, 2024
Verified
Substituted contracts immediately discharge the original contracts.
Substituted Contracts
New agreements that replace and fulfill the obligations of a prior contract, agreed upon by all parties involved.
Original Contracts
The initial agreements made between parties before any modifications or revisions are made.
- Uncover the judicial mandates and effects pertaining to substituted contracts, novations, and accord and satisfaction.
Verified Answer
ES
Eliyahoo ShayestehpourJul 05, 2024
Final Answer :
True
Explanation :
A substituted contract replaces the original contract and discharges the parties from their obligations under the original agreement, creating new obligations under the substituted agreement.
Learning Objectives
- Uncover the judicial mandates and effects pertaining to substituted contracts, novations, and accord and satisfaction.