56.
X owes Rs.10,000/- to Y under a contract. It is agreed between X,Y, & Z that shall henceforth accept Z as his debtor instead of X for the same amount. Old debt of X is discharged and a new debt from Z to Y is contracted. This is:
A:
Alteration of contract
B:
Rescission of contract
C:
Novation of contract
D:
Change in contract
The answer is:
C
