When Acceptance is made to a promise but not on the complete terms of the promise but to a lesser fulfilment of the promise, it is called __________a)Alterationb)Mergerc)Waiverd)RemissionCorrect answer is option 'D'. Can you explain this answer?

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When Acceptance is made to a promise but not on the complete terms of the promise but to a lesser fulfilment of the promise, it is called __________

a)
Alteration
b)
Merger
c)
Waiver
d)
Remission

Correct answer is option 'D'. Can you explain this answer?

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When Acceptance is made to a promise but not on the complete terms of ...

Remission as a Contractual Term

Remission is a contractual term that refers to the acceptance of a promise on terms that are not complete but on a lesser fulfillment of the promise. It is a concept that is commonly used in contract law and is often seen in situations where one party agrees to a lesser amount or quantity of goods or services than what was originally promised.

Example

For example, suppose that a seller agrees to sell a buyer 100 units of a certain product. However, when the buyer accepts the offer, they only agree to purchase 50 units of the product. In this case, the buyer has accepted the promise on a lesser fulfillment of the original promise, and this is referred to as remission.

Conclusion

In conclusion, remission is a term that is used in contract law to describe a situation where a party accepts a promise on terms that are not complete but on a lesser fulfillment of the promise. It is an important concept in contract law and is often seen in situations where parties negotiate the terms of an agreement to reach a mutually acceptable outcome.

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When Acceptance is made to a promise but not on the complete terms of the promise but to a lesser fulfilment of the promise, it is called __________a)Alterationb)Mergerc)Waiverd)RemissionCorrect answer is option 'D'. Can you explain this answer?

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