If the parties to a contract agree to undo the agreement and return any consideration involved, the contract is discharged by:
A) mutual cancellation
B) mutual rescission.
C) novation
D) accord and satisfaction

Question

Quizplus · Accepted Answer

Mutual rescission is the process where both parties to a contract mutually agree to terminate or cancel the contract, by returning any consideration involved. This type of agreement discharges the contract and releases both parties from their contractual obligations.

If the Parties to a Contract Agree to Undo the Agreement