Through which of the following circumstances may a contract be discharged?

Question

Quizplus · Accepted Answer

All of the given circumstances, namely mutual cancellation, mutual rescission, and accord and satisfaction, may result in the discharge of a contract. Mutual cancellation occurs when both parties agree to cancel the contract, while mutual rescission involves an agreement to terminate the contract and return to the parties any consideration exchanged. Accord and satisfaction involves the parties agreeing to a new arrangement to fulfill the obligations of the original contract. In each case, the original contract is discharged.

Through Which of the Following Circumstances May a Contract Be