Which of the following occurs when,instead of canceling a contract,the parties substitute a new agreement in place of the original?
A) Accord and satisfaction
B) Novation
C) Substituted contract
D) Mutual rescission
E) Alteration

Question

Quizplus · Accepted Answer

A situation involving a substituted contract occurs when instead of canceling the contract and terminating their relationship, the parties wish to substitute a new agreement in place of the original.

Which of the Following Occurs When,instead of Canceling a Contract,the