Ultimate Law Resources : Database for Lawyers
If the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need no be performed. Illustrations (a) A owes money to B under a contract. It is agreed between A, B, and C that B shall thenceforth accept C as his debtor instead of A. The old debt of A to B is at an end, and a new debt...
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