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.

Question

Quizplus · Accepted Answer

This situation is an example of an accord and satisfaction, where the parties agree to a new settlement of an existing debt. By performing the new agreement, they are satisfying the previous obligation. Rescission means cancelling a contract altogether, contract modification refers to changing the terms of an existing agreement, and preexisting duty is a legal concept related to performance of contractual obligations.

If Crosby and Dash Are in Disagreement as to the Exact