Which ONE of the following statements concerning transfer and termination of personal rights is CORRECT?

Question

Answer

Delegation takes place when a person becomes both creditor and debtor in respect of the same obligation.

Answer

Release or “waiver” as it is often called is an agreement between the creditor and the debtor in terms of which the old obligation between them is extinguished and a new obligation is created in its place.

Answer

Settlement also called “compromise” is an agreement by which the parties settle a dispute between them about an actual or supposed obligation.

Answer

Novation is an agreement between the creditor and the debtor in terms of which the creditor releases the debtor from his or her contractual obligations.

Crowdly

Which ONE of the following statements concerning transfer and termination of per...

Want instant access to all verified answers on mymodules.dtls.unisa.ac.za?