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 best choice would be variation since the original terms of the contract no longer make sense due to the change in courses and the laptop gift. The parties have agreed to modify the terms to better suit their needs by changing the subject matter of the tutoring and adding a new aspect to Samantha's promise. Variation allows for modifications to the original contract terms with the agreement of all parties involved.

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