A(n)____ Is a Substituted Contract That Involves an Agreement Among

question 55

Multiple Choice

A(n) ____ is a substituted contract that involves an agreement among three parties to substitute a new promisee in place of an existing promisee,or to replace an existing promisor with a new one.

• A) accord
• B) satisfaction
• C) novation
• D) mutual rescission

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Definitions:

Corporate Customers

Businesses or organizations that purchase a company's products or services, often in bulk or on a contractual basis.

Luxury Food

High-quality, often expensive food items that are considered rare or indulgent, typically consumed as a sign of wealth or for special occasions.

Net 30

A payment term indicating that the full payment is due 30 days from the invoice date or delivery of service/product.

Invoice

A document issued by a seller to a buyer that lists the products or services provided and the amount due for payment.