How do the legal remedies differ for the obligee in the event of a breach of contract of the promise arrived at through accord a

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snow_lady [41]

1 year ago

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How do the legal remedies differ for the obligee in the event of a breach of contract of the promise arrived at through accord a

nd satisfaction vs. the promise arrived at through novation?

Social Studies

1 answer:

12345 [234] · Answer 1 · 2023-07-28T09:51:30+03:00

The legal remedies differ for the obligee in the event of a breach of contract of the promise arrived at through accord and satisfaction vs. the promise arrived at through novation as accord and satisfaction allows the obligee to sue for performance of the original contract, while novation does not.

An accord and satisfaction is a legal contract.

In this two parties agree to a claim, contract, or other liability for an amount that is different from the original.

Novation refers to the process wherein an existing contract is replaced with a replacement contract, where the contracting parties reach a consensus.

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