Asked by James O'Connor on Apr 29, 2024
Verified
A written promise not to sue is commonly called a:
A) consideration.
B) forbearance.
C) detriment.
D) release.
Forbearance
The voluntary delay or suspension of an action, such as the enforcement of a debt obligation by a creditor.
Release
The act of freeing someone from obligation, restriction, or duty, or the act of making software, music, film, etc., available for the public.
- Understand the constituents of an effective release, along with accord and satisfaction, in the context of contractual arrangements.
Verified Answer
DD
Danny DaoudMay 05, 2024
Final Answer :
D
Explanation :
A written promise not to sue is commonly referred to as a release. It is a legal agreement in which the releasor gives up all rights to pursue a legal claim or lawsuit against the releasee. This is often done in exchange for some form of compensation or settlement.
Learning Objectives
- Understand the constituents of an effective release, along with accord and satisfaction, in the context of contractual arrangements.
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