Jack recently borrowed $50 from Ricardo for a couple of weeks.Jack, still short of cash, tells Ricardo, "I will wash and wax your car in exchange for the $50 I owe you." Ricardo tells Jack, "OK, that's great!" Jack's performance of his new duty will be:
A)an accord.
B)a novation.
C)a rescission.
D)a satisfaction.

Question

Quizplus · Accepted Answer

Jack's performance of washing and waxing Ricardo's car in exchange for the $50 he owes him is considered a satisfaction of the debt. This means that the original debt is considered fully paid and discharged.

Jack Recently Borrowed $50 from Ricardo for a Couple of Weeks.Jack