Most Contracts Are Discharged by Rescission

question 36

True/False

Most contracts are discharged by rescission.

---

Definitions:

Negative Equity

Occurs when the value of an asset falls below the outstanding balance on the loan used to purchase that asset.

Drawee

A person on whom a draft is drawn by the drawer.

Checking Account

A bank account from which money can be withdrawn or deposited, often used for daily transactions such as paying bills or receiving payroll deposits.

Drawer

The maker of a draft.