Multiple Choice Questions on Change of the nature of the obligation in a contract is known as ........ for Judicial Services Exam (JS) Preparation

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Multiple Choice Questions

Change of the nature of the obligation in a contract is known as ........

Indian Contract Act (ICA)1872 Performance of a Contract
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    Change of the nature of the obligation in a contract is known as:

    Rescission

    Incorrect Answer

    Novation

    Correct Answer

    Renovation

    Incorrect Answer

    Alteration

    Incorrect Answer
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    Explanation:

    Section 62 of Indian Contract Act, 1872 –

    Section 62. Effect of novation, rescission, and alteration of contract. If the parties to a contract agree to substitute a new contract for it, or to rescind or alter it, the original contract need not be performed.

    By: Parvesh Mehta
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