Question $5$

$2$ pts

Mr$.$ and Mrs$.$ Homeowner are upset that their new kitchen cabinets do not match up perfectly with their existing woodwork. They had agreed to pay $$9,000$ to Green Contractors for the new cabinets and the finishing work. Because they are unhappy with the appearance of the cabinets, the company offers to take $$7,500$ for the entire job rather than the $$9,000.$

The Homeowners agree to this arrangement and pay the $$7,500.$ The acceptance of the lesser sum of money by the cabinet company and the payment of the $$7,500$ by Mr$.$ and Mrs$.$ Homeowner illustrates

an accord and satisfaction.

discharge by novation.

All the other choices are correct.

a rescission of a contract.