For example, if there is a contract in which Dan Alex has a television and another contract in which Alex Becky gives a television, it is possible to novat the two contracts and replace them with a single contract in which Dan agrees to give Becky a television. Unlike assignment, novation requires the agreement of all parties. The new contract continues to require consideration, but it is generally considered to be the performance of the old contract. Another classic example is that Company A enters into a contract with Company B and a novation is included to ensure that when B sells, merges or transfers the core of its business to another company, the new entity assumes the obligations and commitments that Company B has with Company A under the contract. Therefore, with regard to the contract, a buyer, a merged entity or a purchaser of company B follows in the footsteps of company B with regard to its obligations to company A. Alternatively, in the event of such a change, the novation agreement may have been signed under the original contract. In January 2015 MSC launched the largest container ship, the MSC Oscar registered in Panama, built by Daewoo Shipbuilding & Marine Engineering, with a capacity of 19,224 TEUs. In January, he will join Albatross as part of the 2M VSA (Vessel Sharing Agreement) between Maersk Line and MSC. [8] Later in 2015, MSC launched three more container ships of the same capacity, MSC Oliver, MSC Zoe and MSC Maya. [9] Etymology: [L. novatio; novus nouveau: cf. F. novation.] Underrepresented communities provide affordable access to music production….