Which of the Following Statements Is True About Discharge by Alteration

question 10

Multiple Choice

Which of the following statements is true about discharge by alteration?

• A) When a parties' agreement is represented by a written instrument, a material, intentional alteration of the instrument by one of the parties does not discharge the other party.
• B) When a party does not consent to an alteration or objects to it after learning of it, he or she is not discharged.
• C) Alterations by third parties without the knowledge or consent of either contracting party do not affect the parties' rights.
• D) Discharge by alteration involves statutorily establishing reasonable time within which a lawsuit must be brought.

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Definitions:

Cost-Benefit Ratio

A financial assessment tool that compares the costs of an action or project to its benefits, to determine its feasibility or value.

Leverage Ratio

A financial metric indicating the level of a company's debt in relation to its equity or assets.

Organisational Performance

A measure of how well an organization achieves its objectives and fulfills its mission.

Use Resources Efficiently

The practice of utilizing materials, time, and labor in a way that maximizes productivity and minimizes waste.