Question:
A Contract is discharged by novation which means the
A Contract is discharged by novation which means the
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Novation (Sec. 62) = new contract replaces old.
Updated On: Jun 4, 2025
- Cancellation of the existing contract
- Change in one or more terms of the contract
- Substitution of existing contract for a new one
- None of the above
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The Correct Option is C
Solution and Explanation
Novation under Section 62 of the Indian Contract Act involves substituting an existing contract with a new one, discharging the original.
\[ \boxed{\text{Substitution of existing contract for a new one}} \]
\[ \boxed{\text{Substitution of existing contract for a new one}} \]
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