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• A) A partially executed contract cannot be rescinded.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:

Federal Legislation

Laws enacted by the national government of a country, in this case, the United States, which apply to all states and citizens.

Cost-Benefit Analysis

A systematic approach to estimate the strengths and weaknesses of alternatives; it is used to determine options that provide the best approach to achieve benefits while preserving savings.

Social Theory

A framework or set of ideas that aims to explain how societies function, change, and develop.

Indirect Costs

Expenses not directly attributable to a specific product or service but necessary for the general operation of a business.