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_______ of contract can take place without consideration
  • a)
    Alteration
  • b)
    Rescission
  • c)
    Novation
  • d)
    Remission
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
_______ of contract can take place without considerationa)Alterationb)...
Remission is said to be done where a party to the contract agrees to:
• Dispense with (waive the per for mance)
• Accept a lesser amount or lesser degree of per for mance for full discharged of contract
• Extends the time of per for mance 
For remission, no consideration is required to be paid by benefiting party. Once the party agrees for remission, it cannot be revoked. However, the remission may be conditional. 

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_______ of contract can take place without considerationa)Alterationb)Rescissionc)Novationd)RemissionCorrect answer is option 'D'. Can you explain this answer?
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