Which of the following occurs when parties agree that they simply wish to discharge each other from their mutual obligations and,therefore,rescind or cancel the contract?
A)Accord and satisfaction
B)Novation
C)Substituted contract
D)Mutual rescission
E)Accord and abeyance

Question

Quizplus · Accepted Answer

Parties may agree that they simply wish to discharge each other from their mutual obligations and,therefore,rescind or cancel their contract.This is known as mutual rescission.

Which of the Following Occurs When Parties Agree That They