Ranjit and Samantha, who are both business students, entered into a contract. He promised to tutor her in the law of negotiable instruments, and she promised to type his handwritten notes for him after each class. The contract was to start on September 1 and was to last for one academic year. Before the beginning of September, however, Samantha learned that she was enrolled in a course on mortgages, rather than a course on negotiable instruments. Furthermore, Ranjit received a laptop computer as a present from his parents. Ranjit and Samantha therefore have agreed that the original terms of their contract no longer make much sense. They also agree that it would be preferable if he tutored her in the law of mortgages and she designed a database that will allow him to most effectively use the lectures notes that he types for himself in class. Which of the following processes would best suit the parties' needs?

Question

Quizplus · Accepted Answer

The process of variation involves changing the terms of an existing contract by mutual agreement, which suits Ranjit and Samantha's needs as they want to modify their original contract terms.

Ranjit and Samantha, Who Are Both Business Students, Entered into a Contract