Jill contracts to sell Ken her MP3 player for $50. This contract will be fully discharged when Jill and Ken
A) agree to sign a bill of sale.
B) exchange the player for the $50.
C) sign a receipt.
D) shake hands and go their separate ways.

Question

Quizplus · Accepted Answer

The contract states that Jill will sell her MP3 player to Ken for $50. The contract will be fully discharged once the exchange is made, meaning that Jill gives Ken the MP3 player and he gives her the $50. The other options (agreeing to sign a bill of sale, signing a receipt, or shaking hands) may be helpful in documenting the transaction, but they do not fully discharge the contract as the exchange of the MP3 player and $50 is the primary obligation of both parties.

Jill Contracts to Sell Ken Her MP3 Player for $50