Asked by Chae-Lynn Normore on May 12, 2024
Verified
________ requires that both the parties return to the other any consideration already received or pay for any services or materials already rendered.
A) Termination by waiver
B) Novation
C) Mutual rescission
D) General release
Mutual Rescission
An agreement between parties to terminate their contract and restore them to their original positions as if the contract had never existed.
Consideration
Consideration is a legal concept referring to something of value promised, given, or received in return to form the basis of a contract.
Services
Activities performed to meet the needs of customers or clients, often in exchange for payment.
- Understand the principles and processes involved in the termination, assignment, and delegation of contracts.
Verified Answer
Learning Objectives
- Understand the principles and processes involved in the termination, assignment, and delegation of contracts.
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