Sue has contracted with Rick to do a landscaping project on her property when she sells the whole property to Sylvia. Sylvia decides she will continue to have Rick do the landscaping project. The parties now need a(n) __________.

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22-07-2022
Business

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Sue has contracted with Rick to do a landscaping project on her property when she sells the whole property to Sylvia. Sylvia decides she will continue to have Rick do the landscaping project. The parties now need a(n) __________.

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pragyavermav1 pragyavermav1 · Answer 1 · 2022-08-04T11:35:04+02:00

Sue has contracted with Rick to do a landscaping project on her property when she sells the whole property to Sylvia. Sylvia decides she will continue to have Rick do the landscaping project. The parties now need a novation.

A Novation agreement is to transfer the rights and obligations of one celebration underneath an agreement to any other birthday celebration with one of the events in the settlement closing the identical.

Novation, in settlement regulation and business regulation, is the act of converting a duty to perform with each other responsibility; including an obligation to perform; or changing a party to an agreement with a modern-day celebration.

A valid novation agreement calls for the following: Assumption of agreement responsibilities. The modern proprietor has to expect all responsibilities beneath the settlement. Waiver of right compensation.

Learn more about the agreement here https://brainly.com/question/27301985

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