« previous next »

Author Question: Explain the difference between a release and a rescission. What will be an ideal ... (Read 49 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?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator Draw and label a diagram and explain how a factor-dependent transcription (rho-dependent) terminator
Mechanisms of action of adrenergic agonists: (1) stimulation of the release of NE; (2) increased ... Mechanisms of action of adrenergic agonists: (1) stimulation of the release of NE; (2) increased ...
Vision light adaptation & release of the inhibitory neurotransmitter glutamate Vision light adaptation & release of the inhibitory neurotransmitter glutamate
Social scientists have not done well at devising theories to explain lovely romantic moments Social scientists have not done well at devising theories to explain lovely romantic moments
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 ...
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Stimulus (introduction)

For a complete list of videos, visit our video library