A(n) ________ is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement.

A) mutual rescission
B) accord and satisfaction
C) novation
D) termination by waiver

Question

Jacob Flask · Accepted Answer

Final Answer : B, Explanation :  Accord and satisfaction is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement. This new agreement involves a compromise where one party agrees to accept something less than what was originally promised, and the other party agrees to provide it in exchange for a release from further obligation. Mutual rescission involves both parties agreeing to terminate the original agreement, novation involves substituting a new party in place of one of the original parties, and termination by waiver involves one party voluntarily giving up their rights under the original agreement without creating a new agreement.

A(n) ________ is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement.

A) mutual rescission
B) accord and satisfaction
C) novation
D) termination by waiver

Definitions

Learning Objectives

Learning Objectives

Related questions

A(n) ________ is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement.A) mutual rescissionB) accord and satisfactionC) novationD) termination by waiver

Definitions

Learning Objectives

Learning Objectives

Related questions

A(n) ________ is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement.

A) mutual rescission
B) accord and satisfaction
C) novation
D) termination by waiver