Which of the Following Is True of Discharge of Performance

question 83

Multiple Choice

Which of the following is true of discharge of performance by agreement?

• A) A partially executed contract cannot be rescinded.
• B) Mutual rescission requires parties to enter into a second agreement that expressly terminates the first one.
• C) A party is allowed to rescind a contract without the consent of the other party.
• D) Unilateral rescission is not regarded as breach of contract.

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Definitions:

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit changes with increased production.

Lease Price

The amount of money paid for the temporary use of a good, property, or piece of equipment.

Optimal Output

The level of production that maximizes a firm's profit or minimizes its cost under given conditions.

Market Demand

The total quantity of a product or service that all consumers in a market are willing and able to purchase at various prices.