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In a termination by waiver, Oone party chooses to relinquish his or her rights to demand performance of the other party to the contract.

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In a termination by waiver, Oone party chooses to relinquish his or her rights to demand performance of the other party to the contract. O neither party chooses to terminate his or her part of the contract. both parties agree to extinguish an existing contract and replace it with a new one. O both parties agree to rescind their contract.

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