Jimbo owes $5,000 to Credit Corp. according to the terms of their contract, payable in monthly installments for three years. Jimbo falls on hard times and can no longer make payments to Credit Corp. The parties agree that if Jimbo pays $2,000 by August 30th, Credit Corp. will consider Jimbo's duties under the original contract fully performed (even though he still would have owed an additional $1,500 under the original contract). Despite the parties' new agreement, Jimbo does not make the $2,000 payment by August 30th. Which of the following statements is correct?

Group of answer choices

D. Jimbo's obligation to perform has been discharged based on the doctrine of frustration of purpose.

C. Credit Corp. may now sue Jimbo for the remaining $3,500 still owed to Credit Corp. because this is an example of accord and satisfaction.

A. The second agreement between Jimbo and Credit Corp. is called a novation.

B. The second agreement reached by the parties discharged Jimbo's duty to perform under the original contract.