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Question
Henry borrows money from Commerce Bank to purchase a house. However, he moves to another city to attend graduate school and so sells the house to Maria. Henry wants to be released from his payment obligations to Commerce Bank. Which of the following would release Henry from his liability to Commerce Bank?
A. A delegation of the payment obligation by Henry to Maria is will release Henry from liability.
B. The sale of the house by Henry to Maria involuntarily releases his payment obligation.
C. A delegation of the payment obligation to Maria along with a written notice to Commerce Bank can release Henry from the liability.
D. A novation in which Commerce Bank agrees to substitute Maria for Henry will release Henry.
Answer
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