Omar and Penn want to discharge their contract by executing a new agreement with performance different from what they originally promised. They can best accomplish this by
A) a mutual agreement to rescind.
B) an accord and satisfaction.
C) a novation.
D) an alteration of the original contract.

Question

Omar and Penn want to discharge their contract by executing a new agreement with performance different from what they originally promised. They can best accomplish this by
A) ​a mutual agreement to rescind.
B) ​an accord and satisfaction.
C) ​a novation.
D) ​an alteration of the original contract.

Quizplus · Accepted Answer

An accord and satisfaction is a legal contract whereby two parties agree to discharge a tort claim, contract, or other liability for an amount based on terms that differ from the original amount of the contract or claim.

Omar and Penn Want to Discharge Their Contract by Executing