If a person accepts a lesser sum of money than what was contracted for – McqOptions

MCQOPTIONS

1.	If a person accepts a lesser sum of money than what was contracted for, in the discharge of the whole debt, it is known as
A.	a waiver
B.	a remission
C.	an alteration
D.	a rescission
Answer» C. an alteration

Discussion

No Comment Found

Related MCQs

If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:
Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:
Choose the incorrect statement: To constitute a wager, following elements should be present in the agreement:
A positive assertion, in a manner not warranted by the information of the person making it, of that which is not true, though he believes it to be true is said to be a:
In a contract of guarantee, a person who promises to discharge another s liability is known as
The delivery of goods by one person to another as a security for the repayment of a debt is known as a
A person appointed by the original agent to act in the business of the agency but under the control of the original agent is known as a/an
A mercantile agent to whom the possession of the goods is given for the purpose of selling the same is known as a/an
In contract through sea route, where the seller has to put the goods on board a ship at his own expenses, the contract is known as
The general rule is that the buyer of goods is responsible for his choice or selection. This doctrine is