CAF-4 · Chapter 9 · Question 9 of 12
Alteration of a contract means:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Changing one or more of the terms of the contract with the consent of all parties.
Explanation
Alteration involves modifying existing terms without changing the parties, whereas novation often involves changing the parties or the entire contract.
More Discharge of a contract MCQs
- Q11Which of the following is NOT a ground for 'frustration' (impossibility) of contract?
- Q12Rescission of a contract means:
- Q1If the performance of an act becomes impossible after the contract is made, by reason of some event which the promisor could not prevent…
- Q2If the parties to a contract agree to substitute a new contract for it, or to rescind it, or alter it, the original contract:
- Q3The substitution of a new contract in place of an existing one is legally known as: