If Crosby and Dash Are in Disagreement as to the Exact

question 33

Multiple Choice

If Crosby and Dash are in disagreement as to the exact amount of money that Crosby owes Dash,then they may choose to form a new agreement at a set amount.If they both perform the new agreement,their conduct would be an example of

• A)a rescission.
• B)a contract modification.
• C)a preexisting duty.
• D)an accord and satisfaction.

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Definitions:

Negotiable Promissory Note

A written, legally-binding promise to pay a specified sum of money either on-demand or at a set time, which can be transferred to others.

Appears Valid

Describes something that seems to be legally sound, legitimate, or credible, but has not been proven or confirmed.

Altered Check

A check on which information has been modified or forged, such as the payee's name or the amount, without the account holder's authorization.