A(n)____ is a contract between a promisee and a promisor by which the promisee agrees to accept and the promisor agrees to render a substituted performance in satisfaction of an existing contractual duty.
A) accord
B) mutual rescission
C) material alteration
D) novation

Question

Quizplus · Accepted Answer

An accord is a contract in which the parties agree to accept a substitute performance in place of what was originally agreed, effectively modifying the existing contractual obligations.

A(n)____ Is a Contract Between a Promisee and a Promisor