In a Mutual Rescission,the Parties to a Contract

question 61

Multiple Choice

In a mutual rescission,the parties to a contract:

• A) agree to new terms.
• B) involve a third party in the contract.
• C) agree to undo and cancel a contract.
• D) agree to perform a contract a second time under the same terms as the original.
• E) agree to a set amount as damages.

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Definitions:

Price Trends

The general direction in which the price of a good, service, or asset is moving over a specified period of time, often used to inform investment or purchasing decisions.

Reluctant

Showing hesitation or unwillingness to do something.

Hedging

A financial strategy used to reduce or limit the risk of price movements in commodities, currencies, or securities, by taking an offsetting position in a related security.

Currency Exchange

The process of exchanging one country's currency for another, affecting international trade and investments due to fluctuating exchange rates.