A Release or Waiver of a Contract Means That

A release or waiver of a contract means that:

A) the contract is released for sale on the open market to the highest bidder.
B) both parties who have partially performed their obligations agree to release each other from their remaining obligations.
C) one party who has performed all its obligations releases the other one from its obligations.
D) neither party has performed their obligations but they agree to release each other from their obligations.