Mary and Jo enter a contract in which Jo agrees to buy Marys small consignment business for $300,000.00. Jo goes home and realizes the stock market is reducing his financial position and perhaps this is not a good time to by another business. Jo has lunch with Peter and tells him the situation. Peter says he would love to buy Marys business.

Can Jo assign his right to buy Marys business to Peter? Why or why not?

If he cant, how could Jo be fully discharged of any duties under the original contract he signed with Mary?

What do we call this type of discharge?