the loss of profit from the canceled game. O nothing. Question 48 1.5 pts Pyrama

Question

the loss of profit from the canceled game. O nothing. Question 48 1.5 pts Pyramaze, Inc., contracts with Nordheim to deliver its dairy products though the delivery and payment are a few weeks away. The day after the contract is signed the parties decide to cancel their contract. They can O rescind their entire contract only if one or both parties delegates its rights to a third party. O rescind their contract to the extent that it is executory for at least one of the parties. O rescind their contract if they make a new contract at the same time. O not rescind their contract. Question 49 1.5 pts

Explanation / Answer

48: The answer is “rescind their contract to the extent that it is executory for at least one of the parties” (i.e. the 2nd option).

This is because the law has recognized that two parties can mutually agree to rescind (which means cancel) the contract that they have entered into. But this has to be at least to the extent that it is executory i.e. still to be carried out.

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