Which of the following is used when, by agreement, one of the parties substitutes a different performance for his or her original duty under the contract?
A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question

Quizplus · Accepted Answer

Accord and satisfaction is used when one party agrees to accept a different performance than originally agreed upon, effectively substituting the original duty under the contract.

Which of the Following Is Used When, by Agreement, One