Relieves the existing party of liability on the contract

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Reference no: EM132233733

1. Which of the following refers to an agreement that substitutes a new party for one of the original contracting parties and relieves the existing party of liability on the contract?

a. novation

b. mutual rescission

c. accord

d. substituted contract

2. An award of ________ orders the breaching party to perform the acts promised in a contract.

a. reformation

b. injunction

c. specific performance

d. restitution

3. Joe has a 100-year-old oak tree near the boundary of his property and his neighbor, Fred, is mistaken about where the property line is. Fred is worried about the big, old tree and has hired someone to cut it down. Joe discovers this before the tree is cut and wants to prevent Fred from destroying this irreplaceable tree. Which form of equitable remedy would be best?

a. injunction

b. specific performance

c. liquidated damages

d. reformation

Reference no: EM132233733

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