Which of the following statements is true about discharge by alteration?
A) When a parties' agreement is represented by a written instrument, a material, intentional alteration of the instrument by one of the parties does not discharge the other party.
B) When a party does not consent to an alteration or objects to it after learning of it, he or she is not discharged.
C) Alterations by third parties without the knowledge or consent of either contracting party do not affect the parties' rights.
D) Discharge by alteration involves statutorily establishing reasonable time within which a lawsuit must be brought.

Question

Quizplus · Accepted Answer

If a parties' agreement is represented by a written instrument, a material, intentional alteration of the instrument by one of the parties discharges the other party. If a party consents to an alteration or does not object to it after learning of it, he or she is not discharged. Alterations by third parties without the knowledge or consent of either contracting party do not affect the parties' rights.

Which of the Following Statements Is True About Discharge by Alteration