Tippi and Alfred entered into a contract for the sale of birds. Under the terms of that agreement, she was to provide him on a weekly basis with ten lovebirds for his pet store, and he was to pay her $50 on a weekly basis. The agreement also stated that the contract would be in force for one year. For six weeks, each party performed as promised. At the beginning of the seventh week, however, Tippi telephoned Alfred and said that she wanted to bring their agreement to an immediate end. Which of the following statements is TRUE?
A) If the parties agree to immediately discharge their contract, their new agreement will be supported by consideration.
B) The parties' contract will automatically be discharged through the process of novation if neither Tippi nor Alfred ever try to enforce it.
C) The contract can be brought to an end through the process of release only if Tipi provides fresh consideration.
D) The parties cannot use the process of rescission to discharge the contract because they have already performed part of the agreement.
E) The parties can use the process of rescission to discharge the contract, but only if Alfred seals his agreement to Tippi's proposal.
Correct Answer:
Verified
Q5: Because consideration is not received in return,
Q5: Birinder contractually promised to sell 10 000
Q32: Green Thumb Inc contractually agreed to provide
Q33: Kate and Ben entered into a contract.
Q34: Pina contractually agreed to purchase a shipment
Q35: Which of the following statements is TRUE?
A)
Q36: Which of the following situations best demonstrates
Q38: Rande contractually agreed to purchase his electricity,
Q39: Which of the following statements is TRUE
Q40: Zinedine entered into a contract with Sporting
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents