Multiple choice

A contract is discharged by Rescission, which means the

  1. change in one or more terms of the contract

  2. acceptance of lesser performance

  3. abandonment of rights by a party

  4. cancellation of the existing contract

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Rescission of a contract means the cancellation of the existing contract, releasing the parties from their obligations under it.