awhetzell6385 awhetzell6385

22-01-2020
Business

contestada

Following the formation of a corporation, which of the following terms best describes the process by which the promoter is released from, and the corporation is made liable for, preincorporation contractual obligations?
A. Assignment.
B. Novation.
C. Delegation.
D. Accord and satisfaction.

Respuesta :

agboanthony124 agboanthony124

23-01-2020

Answer:

The correct option is option B

Novation.

Explanation:

Novation is the substitution of a new contract in place of an old one. It is the act of replacing an obligation to perform with another obligation .

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