« previous next »

Author Question: Explain the difference between a release and a rescission. What will be an ideal ... (Read 17 times)

KimWrice

  • Hero Member
  • *****
  • Posts: 579
on: Aug 3, 2018
Explain the difference between a release and a rescission.
 
  What will be an ideal response?

Question 2

What is the effect of a waiver on a contractual obligation?
 
  What will be an ideal response?


ryhom

  • Sr. Member
  • ****
  • Posts: 366
Reply #1 on: Aug 3, 2018
Answer to Question 1

One party may unilaterally release.
All parties must consent to a rescission. A release should be in writing, whereas a rescission
might be verbal, depending on Statute of Frauds and UCC requirements

Answer to Question 2

The party to whom the duty is owed gives up the right to the performance.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Release of Dopamine in the Nucleus Accumbens Release of Dopamine in the Nucleus Accumbens
Mechanisms to Explain the Effects of Massage Mechanisms to Explain the Effects of Massage
Difference Between Solar and Sidereal Day Difference Between Solar and Sidereal Day
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
An electron is accelerated from rest through a potential difference. After acceleration the ... An electron is accelerated from rest through a potential difference. After acceleration the ...
As a nerve impulse arrives at the synapse, it triggers the release of a chemical neurotransmitter fr As a nerve impulse arrives at the synapse, it triggers the release of a chemical neurotransmitter fr
Video: Cataract

For a complete list of videos, visit our video library