X owes Rs. 15,000/- to Y and he gave Rs. 12,000/- in full and final settlement of the outstanding due. This is called __

X owes Rs. 15,000/- to Y and he gave Rs. 12,000/- in full and final se

1.	X owes Rs. 15,000/- to Y and he gave Rs. 12,000/- in full and final settlement of the outstanding due. This is called __
A.	Novation
B.	Alteration
C.	Remission
D.	Cancellation
Answer» D. Cancellation