B Com Exam  >  B Com Questions  >  What is the term used to describe the cancell... Start Learning for Free
What is the term used to describe the cancellation of a contract?
  • a)
    Rescission
  • b)
    Alteration
  • c)
    Remission
  • d)
    Novation
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What is the term used to describe the cancellation of a contract?a)Res...
Rescission refers to the cancellation of a contract. It can be done by mutual consent of the parties, where they agree to terminate the contract before its breach. It can also be done by the aggrieved party if the other party has committed a breach of the contract. In case of a voidable contract, the party whose consent is not free can also rescind the contract.
Explore Courses for B Com exam
What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer?
Question Description
What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer?.
Solutions for What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for B Com. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free.
Here you can find the meaning of What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice What is the term used to describe the cancellation of a contract?a)Rescissionb)Alterationc)Remissiond)NovationCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice B Com tests.
Explore Courses for B Com exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev