A owes B Rs. 10,000. A pays to B, and B accepts Rs. 7000 in full satisfaction of the claim. It amounts to:
Verified Answer
A. Waiver
B. Remission
C. Alteration
D. Novation
Explanation:
This is a case of 'remission' under Section 63 of the Indian Contract Act, where the promisee may dispense with or remit, wholly or in part, the performance of the promise made to him, or may accept instead of it any satisfaction which he thinks fit.