X owes Rs.10,000/- to Y under a contract. It is agreed between X,Y, & Z that shall henceforth accept Z as his debtor instead of X for the same amount. Old debt of X is discharged and a new debt from Z to Y is contracted. This is:
MCQ Question: "X owes Rs.10,000/- to Y under a contract. It is agreed between X,Y, & Z that shall henceforth accept Z as his debtor instead of X for the same amount. Old debt of X is discharged and a new debt from Z to Y is contracted. This is:"