When all or some of the terms of the contract are cancelled.The contract is said to be________?
Correct answer: C. Rescinded
- A. Altered
- B. Novated
- C. Rescinded
- D. None of these
Explanation
Rescission means cancellation or termination of a contract, whether the cancellation concerns the whole agreement or the relevant contractual obligations. Alteration merely changes terms, while novation substitutes a new contract.
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About Civil Law
Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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