Asked by Katie McFarland on May 01, 2024
Verified
Any contract can be discharged by agreement of the parties.
Discharged
In legal terms, this means that a debt has been paid off or obligations have been fulfilled, releasing the debtor from further responsibilities.
Agreement
A mutual understanding or arrangement between two or more parties, often formalized by a contract, outlining terms and conditions of a relationship.
- Understand the role of mutual agreement in modifying, discharging, or terminating contracts.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
True
Explanation :
A contract can be discharged by mutual agreement of the parties involved, which can take the form of a rescission, variation, or novation, effectively ending the contract's obligations.
Learning Objectives
- Understand the role of mutual agreement in modifying, discharging, or terminating contracts.