Juan and Isidro enter into a contract to buy,restore,and reopen the Coastal Park Carousel.Before either party begins to perform,they agree to cancel their deal.This is
A)substantial performance.
B)mutual rescission.
C)accord and satisfaction.
D)novation.

Question

Quizplus · Accepted Answer

Mutual rescission is when both parties agree to cancel a contract before either party begins to perform. This is the best choice because it explicitly states that both parties agreed to cancel the contract, which is the scenario presented in the question. The other choices do not accurately reflect the situation described.

Juan and Isidro Enter into a Contract to Buy,restore,and Reopen