NO.PZ2016082406000056
问题如下:
What are the benefits of novation?
选项: Both
parties are allowed to walk away from the contract in the event of default.
In a bilateral contract, it is specified that on default, the non-defaulting party nets gains and losses with the defaulting counterparty to a single payment for all covered transactions.
C.Financial market contracts can be terminated upon an event of default prior to the bankruptcy process.
D.Obligations are amalgamated with others.
解释:
ANSWER: D
Answer A is incorrect because this is a walk-away clause. Answer B is incorrect because this is close-out netting. Answer C is incorrect because this is a termination clause.
这个termination好像看起来可以说和close out差不多?都是在违约的时候,就给取消了?有啥区别吗这两者对比起来