Rene Contracts with Scot to Pay Him $5,000 for Repairs

question 25

Multiple Choice

Rene contracts with Scot to pay him $5,000 for repairs to Rene's lake cabin. After Scot performs, Rene tells him that she cannot pay him in full immediately. They sign an agreement in which Rene promises to pay $2,500 now instead of $5,000 later. This is

• A)a mutual agreement to rescind.
• B)an accord and satisfaction.
• C)a novation.
• D)specific performance.

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Definitions:

LAN

Stands for Local Area Network, a computer network that interconnects computers within a limited area such as a residence, school, laboratory, or office building.

WAN

Wide Area Network, a telecommunications network that extends over a large geographic area for the purpose of computer networking.

Fiber-Optic

Referring to the technology of transmitting light through thin, flexible fibers of glass or plastic for telecommunications or lighting.

Dial-Up

A form of internet access that connects users to the internet through a telephone line.