A unilateral change of contract terms by one of the parties to a contract without the consent of other party is
A. Is it Usury
B. Novation
C. Alteration
D. OTHER
Alteration which makes it void. So I think the answer is C
The effects of the action in question above would be to
a. Is it discharge the obligation of the nonconsenting party
b. make the contract voidable
c. make a valid contract
d. no effect
I think D, NO EFFECT
To determine the correct answers to these questions, let's break down the concepts and analyze each option:
1. A unilateral change of contract terms by one party without the consent of the other party is referred to as "Alteration." The non-consenting party has not agreed to the change in the contract terms, so it would make the alteration void. Therefore, the correct answer is indeed C. Alteration.
2. The effects of this alteration would be:
a. Discharging the obligation of the non-consenting party: This means that the non-consenting party would no longer be obligated to fulfill their role in the contract. However, this is not the case here since the alteration makes the contract void, not discharged. Therefore, the answer is not A.
b. Making the contract voidable: If the alteration makes the contract voidable, it means that the non-consenting party has the option to either continue with the altered contract or cancel it. However, in this case, the alteration makes the contract void, not voidable. So, the answer is not B.
c. Making a valid contract: This is also not the correct choice since making a unilateral change without the consent of the other party would render the contract void, not valid. Therefore, the answer is not C.
d. No effect: This is the accurate choice. Since the alteration makes the contract void, it implies that the contract has no effect. Hence, the correct answer is D. No effect.
Therefore, the correct answers are: A - C (Alteration) and B - D (No effect).