Shortly after entering into a contract with Prentice Co. to provide consultation on integrating their office systems, Antonio discovers he is the victim of a neurological disease that will kill him very rapidly. Because of his situation and the excellent service he has provided them in the past, Prentice's president decides to write off the whole of the $30,000 they had advanced him, which was to cover the investigatory and recommendation stages of his work for them, even though failure to perform was cause for rescission of the contract.
a. Prentice's action is either a waiver or a release. Which is it and what is the difference between them?
b. What danger does Antonio face if the president now leaves Prentice Co. and the new president reviews the matter?
c. What should be done to protect Antonio from that problem, at the time the promise is made?

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The Answer of Shortly after entering into a contract with Prentice Co. to provide consultation on integrating their office systems, Antonio discovers he is the victim of a neurological disease that will kill him very rapidly. Because of his situation and the excellent service he has provided them in the past, Prentice's president decides to write off the whole of the $30,000 they had advanced him, which was to cover the investigatory and recommendation stages of his work for them, even though failure to perform was cause for rescission of the contract.
a. Prentice's action is either a waiver or a release. Which is it and what is the difference between them?
b. What danger does Antonio face if the president now leaves Prentice Co. and the new president reviews the matter?
c. What should be done to protect Antonio from that problem, at the time the promise is made?

Shortly After Entering into a Contract with Prentice Co