Author Question: Blake agreed to renovate Jane's house, and they drafted a written contract. However, Blake was ... (Read 253 times)

mp14 · **on:** Jun 24, 2018

Blake agreed to renovate Jane's house, and they drafted a written contract. However, Blake was unable to complete the renovation due to an accident. Blake's friend, Tom, agreed to complete the job, and Jane agreed to release Blake from the contract. The terms of the old contract remained the same. This process of substitution of a contract is known as a(n) _____.
A) rescission
B) novation
C) option
D) counteroffer

Question 2

When a buyer assigns the right to goods under a contract, the buyer's liability to make payment to the seller is:
A)transferred to the third party.
B) terminated.
C) still in effect.
D) shared equally with the third party.