Multiple Choice Questions on X owes Rs 15 000 to Y and Y accepts Rs 12 000 in full and final settlement of the outstanding due Th........... for Punjab Government (Allied) Exams Preparation

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Multiple Choice Questions

X owes Rs 15 000 to Y and Y accepts Rs 12 000 in full and final settlement of the outstanding due Th...........

Commercial and Business Laws Law of contract
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    X owes Rs. 15,000/- to Y and Y accepts Rs. 12,000/- in full and final settlement of the outstanding due. This is called

    Cancellation

    Incorrect Answer

    Remission

    Correct Answer

    Alteration

    Incorrect Answer

    Novation

    Incorrect Answer
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    Explanation:

    Remission

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