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Choose the co...

Question

Choose the correct answer from the alternatives given.
Mr. X lends Rs. 10,000 to. Mr Y. He later tells Y that he need not repay the amount, the contract is discharged by ________.

A

breach

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B

waiver

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C

novation

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D

performance

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Solution

The correct option is B waiver
A waiver is a lawfully restricting arrangement where either party in an agreement consents to deliberately forfeit a case without the other party being obligated. A waiver is a proper proclamation surrendering a right.
B is the correct option.

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