Regarding the discharge of a contract, which of the following is FALSE?
A) Novation is the discharge of one contract by substitution of another.
B) One party to a contract may accept a money payment instead of performance and thus discharge the existing contract.
C) Waiver is the discharge of one agreement by substitution of another.
D) If the contract contains the option to terminate, then with proper notification either or both parties can discharge the contract.
E) If parties to a contract agree to a material alteration of its terms, they have in effect agreed to discharge the contract and replace it with a new one.

Question

Quizplus · Accepted Answer

Waiver is not the discharge of one agreement by substitution of another. Waiver refers to the intentional relinquishment of a known right or claim. The other options are true statements about methods of discharging a contract.

Regarding the Discharge of a Contract, Which of the Following